Quiz 23: Credit and Secured Transactions
Attachment Is a Post-Judgment Court Order That Permits the Seizure
Attachment is a post-judgment court order that permits the seizure of a debtor's property that is in the debtor's possession.
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To obtain a writ of attachment,a creditor must follow the procedures of state law,give the debtor notice,and post a bond with the court.
Execution is a pre-judgment court order that permits the seizure of a debtor's property that is in the debtor's possession while a lawsuit against the debtor is pending.
A writ of execution is a court order directing the sheriff or other government official to seize the debtor's property in the debtor's possession and authorizing a judicial sale of that property.
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