Case summary: A company GHC obtained a judgment to secure $45,458.86 from two people G and N in Ohio state court and filed for garnishment seeking funds from various banks held by the people G and N. People G and N disputed the company GHC’s right of garnishment and claimed that the funds were exempted amount but offered no proof. In response, banks deposited $23,911.97 with the court which was delivered to the company GHC. Later, the people G and N filed a bankruptcy petition in the court. After the people G and N were granted a discharge, they filed a “motion to return funds to debtors” but offered no proof that their debt to the company GHC was included in the discharge.
To find:The arguments of the company GHC in response to the motion filed by the people G and N.
Trending nowThis is a popular solution!
Chapter 15 Solutions
Bundle: The Legal Environment Of Business: Text And Cases, 10th + Mindtap Business Law, 1 Term (6 Months) Printed Access Card
- Answer this general accounting questionarrow_forwardDJ Chase carries portfolios of both trading securities and available-for-sale securities. At the end of 2018 and 2017, the trading securities were valued at $468.4 billion and $595.6 billion, respectively; and the available-for-sale securities were valued at $205.9 billion and $85.4 billion, respectively. Together, the investments comprise about 25 percent of the company's total assets as of December 31, 2018. Unrealized gains reported on the 2018 income statement totaled $9.9 billion. Trading securities are carried on the balance sheet at market value. Compute the net decrease in the investment in trading securities during 2018.arrow_forwardPlease provide this question solution general accountingarrow_forward
- Provide answer general accountingarrow_forwardOn January 1, 2021, Nohara Inc, had cash and share capital of Yen 60,000,000. At that date, the company had no other asset, liability, or equity balances. On January 2, 2021, it purchased for cash Yen 20,000,000 of equity securities that it classified as non-trading. It received cash dividends of Yen 4,500,000 during the year on these securities. In addition, it has an unrealized holding gain on these securities of Yen 6,500,000 net of tax. Determine the following amounts for 2021: a) Net income. b) Comprehensive income. c) Other Comprehensive Income, and d) Accumulated other comprehensive income (end of 2021).arrow_forwardCORRECT ANSWER✅arrow_forward
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education