quick ST

Question 1

Priority of judgment liens

Answer 1

If perfected interest: first in time. Lien will beat a perfected interest if it is acquired before the perfection.
Unperfect interests are inferior to judgment liens

Question 2

Buyer in the ordinary course of business

Answer 2

Takes the collateral free of the security interest even if he knew of the SI and even if it was perfected. SI must be created by Buyer’s seller.

Question 3

Garnishment objections

Answer 3

BE PIMPS

Question 4

When can execution on judgment begin?

Answer 4

not until 21 days after the final judgment has been entered. SOL is ten years.

Question 5

How to garnish wages

Answer 5

Periodic writ of garnishment. Allowd employer to take a little bit each time. max 25% per week

Question 6

Joint bank accounts and garnishment

Answer 6

Joint tenants with surviviorship rights. Presumed that they are equal contributors. Probably can only get half. Non-periodic writ

Question 7

Personal Property

Answer 7

Get an order of seizure of property

Question 8

Uniform Voidable Transactions Act

Answer 8

Covers:
-conveyances with intent to defraud
-conveyance made without reasonably equivalent value
-conveyance where debtor believed or should have believed would make him insolvent.
These are treated as void as to the creditor.

Question 9

exception to UVTA

Answer 9

if trasnferee is an innocent purchaser for value