JUDGMENT DEBTOR Meaning and
Definition
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A judgment debtor refers to an individual or entity that has been legally assessed by a court of law to pay a specific sum of money or fulfill a non-monetary obligation to another party, known as the judgment creditor. The assessment typically arises from a court judgment, ruling, or order that determines the debtor's liability for an obligation or debt.
In simple terms, a judgment debtor is someone who has been found legally responsible for a debt, damages, or an outstanding obligation, typically due to a breach of contract, tort or liability claim, or failure to pay a debt. Once the court issues a judgment in favor of the creditor, the debtor becomes obligated to pay the specified amount within a given timeframe.
The status of being a judgment debtor may lead to various legal consequences, allowing the judgment creditor to pursue collection activities. These activities can include wage garnishment, putting a lien on the debtor's property, seizing certain assets or funds, or ordering the sale of assets to satisfy the debt. However, the specific remedies available to the judgment creditor can vary based on local laws or the terms of the original judgment.
Overall, a judgment debtor is an individual or entity who has been legally found responsible for a debt, and is subject to legal enforcement by the judgment creditor to ensure the debt is satisfied.
Common Misspellings for JUDGMENT DEBTOR
- hudgment debtor
- nudgment debtor
- mudgment debtor
- kudgment debtor
- iudgment debtor
- uudgment debtor
- jydgment debtor
- jhdgment debtor
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- judfment debtor
- judvment debtor
Etymology of JUDGMENT DEBTOR
The word "judgment debtor" is derived from two main components: "judgment" and "debtor".
1. "Judgment": The word "judgment" originated from the Old French term "jugement", which can be traced back to the Latin word "judicium". In Latin, "judicium" refers to a legal decision or verdict rendered by a judge. Over time, "judgment" came to be used in English to describe a formal decision or determination made by a court or legal authority.
2. "Debtor": The term "debtor" can be traced back to the Old French word "detor" or "debtur". It ultimately evolved from the Latin word "debitor", which is derived from "debere", meaning "to owe". A debtor refers to an individual or entity that owes money or is in debt to another party.
