Debtor and Creditor Law

Creditors need to be careful when entering into settlement agreements with debtors because the debtor may get the debt discharged in bankruptcy

Creditors may unknowingly enter into agreements with debtors if they use a mere email to modify a credit agreement. Minn. Stat. § 513.33, subd. 2

Businesses may face sanctions if they do not respond to lawsuits and update their addresses

When property is subject to a security interest, an exercise of dominion or control over the property that is inconsistent with the rights of the secured party constitutes, as to that secured party, a conversion of the property

Mechanics liens have priority over mortgages

A guarantor can be held liable even if he did not sign the guaranty

An accord and satisfaction is a substituted—and usually compromised—performance for an existing contractual obligation.

Reverse piercing corporate veil action a claimaint seeks to reach the assets of a corporation to satisfy a judgment against an insider

A creditor cannot garnish a spendthrift trust

A creditor can get an injunction against a debtor from spending his money

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