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.
Correct Answer:

Verified
Correct Answer:
Verified
Q36: With regard to guarantees, which of the
Q37: When the value of the security is
Q38: The Bankruptcy and Insolvency Act allows a
Q39: Explain the role of the trustee in
Q40: Distinguish between bankruptcy and insolvency.
Q42: Some debtors can submit a reorganization proposal
Q43: Identify which of the following statements best
Q44: The practice of paying out one creditor
Q45: When a tenant fails to pay rent
Q46: What obligations are placed on the owner