John bought a ring for Sue on credit. After six months John defaulted on his debt to Big Rock Jewelers. Big Rock sues John for payment of his debt. If Big Rock is worried that John might sell the ring before court proceedings, something it doesn't want to happen, it should obtain:

Question

07-04-2020
Business

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John bought a ring for Sue on credit. After six months John defaulted on his debt to Big Rock Jewelers. Big Rock sues John for payment of his debt. If Big Rock is worried that John might sell the ring before court proceedings, something it doesn't want to happen, it should obtain:

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tutorAnne tutorAnne · Answer 1 · 2020-04-09T04:48:02+02:00

Answer:An attachment lien

Explanation:

An attachment lien is a is a legal right granted by the owner of a property as a monetary claim against property to ensure payment. it guarantees the repayment of a loan which enables the creditor seize or sell the property to cover the debt, if not obliged to.

for example: since John failed to make the payments on a ring bought from Big Rock Jewelers, it can lead to the Jewelry company, Big Rock repossessing and selling the ring to obtain payment and this should be done before John attempts selling the ring.