Which One of the Following Is False with Regard to Creditors

question 41

Multiple Choice

Which one of the following is false with regard to creditors' remedies?

• A) A garnisheeing order is an order to the sheriff or civil enforcement agent to seize assets of a judgment creditor to satisfy a judgment debt.
• B) A person who wins in an action and is awarded damages is called a judgment creditor.
• C) A guarantor is a person who agrees to be responsible for a debt if the borrower (the person primarily liable) defaults.
• D) A General Security Agreement debenture can create a security interest in "all present and after acquired property."
• E) A guarantor may avoid liability if the creditor does some act or enters into an agreement that weakens the guarantor's position.

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Definitions:

Average Variable Cost

The total variable costs divided by the quantity of output produced.

Total Variable Costs

The sum of all costs that vary with output level, including costs for raw materials, labor, and other expenses that increase with production.

Output Increases

A situation in which the quantity of goods or services produced in an economy rises.

Production Technique

The method or process used by businesses to produce goods or services, which can vary in efficiency, cost, and quality.