GARNISHEE ORDER Meaning and
Definition
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A garnishee order is a legal directive issued by a court that allows a creditor to collect funds from a third party, known as the garnishee, in order to satisfy a debt owed by a debtor. The garnishee order is typically obtained by the creditor after obtaining a judgment against the debtor in a court of law.
The garnishee, in this context, could be an individual, a company, or a financial institution that holds money or assets belonging to the debtor. Once served with a garnishee order, the garnishee is legally obligated to comply with the directive and withhold a specified amount of money from the debtor's account or any other financial assets in their possession.
The purpose of a garnishee order is to enable the creditor to recover the outstanding debt owed by the debtor by accessing funds from a source other than the debtor directly. This legal tool provides a means of debt recovery when other methods have failed or have proved to be ineffective.
It is important to note that the garnishee order should be in compliance with the applicable laws and regulations governing debt collection in a particular jurisdiction. Failure to comply with the order can result in legal consequences for the garnishee, while the debtor may also have avenues to challenge the order if they believe it was wrongfully issued.
Common Misspellings for GARNISHEE ORDER
- farnishee order
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Etymology of GARNISHEE ORDER
The word "garnishee" is derived from the Old French term "garnir", which means "to warn, provide, or equip". In medieval times, it was used in the context of legal proceedings to denote the act of serving a summons or warrant. Over time, the term evolved to refer to a legal process of attaching or seizing assets or money owed to a debtor in order to satisfy a debt or judgment.
The word "order" in "garnishee order" simply signifies the legal document or directive issued by a court, instructing a garnishee (a third party holding money or assets of the debtor) to surrender those funds or assets to satisfy the debt owed to the creditor.
