Definition of 'Judgment'
A judgment is a final order of the court, and it is enforceable by the sheriff or other law enforcement officials. If the person or company who owes the money fails to pay, the creditor can ask the court to enforce the judgment by garnishing wages, seizing assets, or even putting the person or company in jail.
Judgments can have a significant impact on a person's or company's financial well-being. If you are facing a judgment, it is important to take action to protect your rights. You may want to consult with an attorney to discuss your options.
Here are some additional details about judgments:
* A judgment can be entered against a person or company for any amount of money, up to the maximum amount allowed by law.
* A judgment can be entered for damages, which are compensation for a loss or injury, or for costs, which are the expenses of the lawsuit.
* A judgment can also be entered for attorney's fees, which are the fees that the creditor's attorney incurred in bringing the lawsuit.
* A judgment can be appealed to a higher court, but the appeal process can be time-consuming and expensive.
* If a judgment is not paid, the creditor can take steps to enforce it, such as garnishing wages, seizing assets, or even putting the person or company in jail.
If you are facing a judgment, it is important to take action to protect your rights. You may want to consult with an attorney to discuss your options.
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