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Simple English definitions for legal terms
judgment proof
Read a random definition: out of the money
A quick definition of judgment proof:
Term: Judgment Proof
Definition: When someone is considered judgment proof, it means that even if they owe money to someone else, that person cannot collect the money from them because they don't have enough assets or income to pay it back. It's like having an empty piggy bank - there's nothing to take even if someone wants to.
A more thorough explanation:
Definition: When a person or entity is unable to pay a debt or legal judgment against them because they have no assets or income that can be seized or garnished.
Example: If someone owes a creditor $10,000 but has no job, no property, and no savings, they may be considered judgment proof. Even if the creditor wins a lawsuit against them, they will not be able to collect any money.
Explanation: Being judgment proof means that a person or entity is essentially "immune" to legal action because they have nothing that can be taken away to satisfy a debt or judgment. This can happen if someone is very poor, unemployed, or has no assets in their name. In the example given, the person owes money but has no way to pay it back, so the creditor cannot collect anything from them.