Patricia Has a Valid Judgment Against David, Which She Now

question 13

Multiple Choice

Patricia has a valid judgment against David, which she now wishes to execute. David has no assets in the state where the judgment was entered. He has now moved to California where rumor has it he owns thousands of acres of beach-front property. Patricia may execute her judgment in California based on what type of jurisdiction?

• A) Subject matter jurisdiction.
• B) Concurrent federal jurisdiction.
• C) Quasi in rem jurisdiction.
• D) Diversity of citizenship jurisdiction.

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Definitions:

Asymmetric Information

A situation in which one party in a transaction has more or superior information than the other, leading to an imbalance in the transaction.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive, reflecting producers' benefit.

Costume Jewelry

Fashionable jewelry made from non-precious materials, intended for temporary use with specific outfits rather than as long-term investments.