E-currency exchanger listing

Friday, May 13, 2011

Garnishee Order:

In case a debtor fails to pay the money due to is creditor, the latter may apply to the court to issue a garnishee order, on the debtor's banker. As a result of this order the debtor's account with the bank is frozen and the bank cannot make any payment out of the account. The creditor, on whose request such an order is issued is called the judgement creditor, the debtor, whose account is frozen is called the judgement debtor and the banker who has the customer's account is called the Garnishee.

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