In a Few States, If a Judgment Debtor Does Not

question 56

True/False

In a few states, if a judgment debtor does not have a family, a creditor may be entitled to collect the full amount realized from the sale of the debtor's home.

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Definitions:

Parol Evidence

Oral or verbal evidence that is not included in the written contract, often discussed in the context of disputes about what the parties agreed upon.

Written Contract

A legally binding agreement that has been formulated in writing and signed by the parties involved.

Parol Evidence

A rule in contract law that prevents parties from presenting extrinsic evidence to alter or add to the terms of a written agreement.

Insurance Claim

A formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.