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:

Hot-Dog Stand

A small-scale food retail outlet specializing in selling hot dogs, often found at busy street locations, events, or fairs.

Reservation Price

The reservation price is the maximum price that a consumer is willing to pay for a good or service or the minimum price a seller is willing to accept.

Barbara Streisand CDs

Physical compact discs containing music recorded by the American singer, actress, and filmmaker Barbara Streisand.

Complements

Goods that are often consumed together, such that an increase in demand for one leads to an increase in demand for the other.