Mr Holden, a Program Developer, Developed Software for Inventory Control

question 19

Multiple Choice

Mr. Holden, a program developer, developed software for inventory control that was superior to others on the market. He launched an ad campaign and all went well for several months-until a competitor came out with a cheaper program. In time, he could not pay his debts when they became due and owing. A supplier sued for damages and was awarded judgment for $21,000. Holden did not pay. With regard to the supplier's position at this time, which of the following is false?

• A) Since the decision is in his favour, the supplier would be a judgment creditor, Holden, a judgment debtor.
• B) The supplier could have a garnishee order served on Holden's bank, ordering the bank to pay money into court instead of to Holden.
• C) The supplier could examine Holden under oath about his assets and sources of income.
• D) The supplier could obtain a writ of execution that directs a court official to seize Holden and detain him in court until he arranges payment.
• E) The supplier could get a government-authorized official to seize and sell enough of Holden's property to satisfy the debt.

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Definitions:

Economic Well-Being

Economic well-being refers to the degree of prosperity, financial security, and the ability to meet basic needs, enjoyed by an individual, group, or society.

Low-Income Earners

Individuals who receive earnings that are significantly lower than the average for their community or country, often leading to financial struggles and limited access to resources.

High-Income Earners

Individuals or households that earn a significantly higher income than the average or median for a particular region or society.

Lobbies

Groups of people or organizations that seek to influence political decisions and policies, typically by engaging with legislators or members of government.