(Solved) Mr. Holden, a program developer, had a successful business helping small firms and shops computerize ...

Mr. Holden, a program developer, had a successful business helping small firms and shops computerize their businesses. In his spare time, he 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 released a cheaper program. In time, Holden could not pay his debts when they became due and owing. A supplier sued for damages and was awarded $21 000. Holden did not pay. With regard to the supplier's position at this time, which of the following is true?

▸ Since the decision is in his favour, the supplier would be a judgment creditor and Holden would be a judgment debtor.

▸ The supplier could get a government official to seize and sell enough of Holden's property to satisfy the debt.

▸ The supplier could ask for a post-trial hearing to identify Holden's assets and sources of income.

▸ The supplier could have a garnishee order served on Holden's bank, ordering the bank to pay money into court instead of to Holden.

▸ All of the above

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Mr. Holden, a program developer, had a successful business helping small firms and shops computerize ...

Legal Fundamentals for Canadian Business

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