Business Studies, asked by kumarsubash1969, 6 months ago

When garnishee order is issued by the court
attaching the account of customer, the
banker is called​

Answers

Answered by Anonymous
3

Explanation:

The creditor at whose request the order is issued is called the judgement- creditor, the debtor whose money is frozen is called judgement- debtor and the banker who is the debtor of the judgement debtor is called the Garnishee. The Garnishee Order is issued in two parts.

Answered by Anonymous
0

When garnishee order is issued by the court attaching the account of customer:

  • A garnishee order is a court order that directs the judgement debtor's funds, which are held by a third party, to be paid to the judgement creditor.
  • When the bank receives the Garnishee order, the bank's responsibility to honor the customer's check up to the attached amount is terminated.
  • The consumer shall be advised of the attachment of any available balance in his account as soon as the Court order is received.
Similar questions