JUDGMENT DEBT Meaning and
Definition
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"Judgment debt" refers to a legal term that signifies the financial obligation owed by one party to another as a result of a court judgment. When a lawsuit is filed and a judgment is rendered in favor of the plaintiff, the court may order the defendant to pay a sum of money to fulfill the judgment. This monetary amount is known as the judgment debt.
The judgment debt represents a legal obligation and must be paid by the party against whom judgment has been granted. It is typically in the form of a specific amount and may include additional costs, such as court fees and interest accrued over time. The court's judgment serves as the authoritative determination that the defendant is liable for the debt and specifies the timeline for payment.
If the judgment debtor fails to satisfy the judgment debt voluntarily, the judgment creditor can pursue various legal avenues to enforce payment. These methods may include garnishing the debtor's wages, placing liens on their property, or seizing their assets to satisfy the outstanding debt. The judgment debt remains enforceable until it is fully paid or until the court determines otherwise.
The term "judgment debt" emphasizes the legal and binding nature of the obligation, signifying that the debtor is legally bound to fulfill the monetary obligation imposed by the court's judgment.
Common Misspellings for JUDGMENT DEBT
- hudgment debt
- nudgment debt
- mudgment debt
- kudgment debt
- iudgment debt
- uudgment debt
- jydgment debt
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- jurgment debt
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- judfment debt
- judvment debt
Etymology of JUDGMENT DEBT
The etymology of the term "judgment debt" can be traced back to the Middle English and Latin origins of its constituent words.
The word "judgment" can be traced to the Middle English word "jug(e)ment", which was derived from the Old French "jugement". The Old French term was adopted from the Latin word "iūdicāmentum", derived from the verb "iūdicāre", meaning "to judge". In this context, "judgment" refers to the formal decision or opinion of a court or judge.
The word "debt" originates from the Old French term "dete", which was derived from the Latin word "debitum", meaning "something owed". It came from the past participle of the Latin verb "debēre", which means "to owe".
