M borrowed $5,000 from the bank and gave $4,000 bearer bonds as collateral. P signed on the surety note promising to pay the debt if M defaults.
, P can enforce the demand for securities held by the bank.
This is known as the right to get securities. The surety has made the payment to bank. Thus, surety has the right to get all securities into his possession from creditor.
Difference between an exception to discharge and an objection to discharge:
Under exceptions to discharge, the creditor may deny the debtor of a discharge of his debt. However, he allows discharge of all other debts of the debtor debts so that the creditor has no other creditors to compete to collect his own debt. An exception to discharge takes place when debtor has shown any misconduct towards a particular creditor.
Under objections to discharge, on the other hand, the creditor may deny the debtor of a discharge of his debt. An objection to discharge takes place when debtor has shown misconduct towards all his creditors, in general.
Thus, the main difference between an exception to discharge and an objection to discharge is that the former involves a debtor's misconduct towards a particular creditor while objections to discharge may involve deception in the context of the bankruptcy case.
Company J can put Artisan's lien and make claim for the amount invested for development of the property. It can file lien on the house in which work has been done and hold it till the payment has been achieved.
Company A can file Mechanic's lien for collecting the amount given by it for improving the property. It can make claim over the property which has been developed and sell it of for gathering its payment.