Nulla bona
Nulla bona is a Latin legal term meaning "no goods" – a sheriff writes this when he can find no property to seize to pay off a court judgment. Synonymous with return nulla bona, it denotes the return of a writ of execution signifying that the officer made a strict and diligent search but was unable to find any property of the defendant liable to seizure under the writ, whereof to make a levy.
It may also be used as a plea by a garnishee, denying that he holds property of, or is indebted to, the defendant.
The nulla bona is issued by the Master of High court if after the issue of a warrant of execution, the attached property of the debtor is found to be insufficient to suffice for the payment of creditors.
This article is issued from
Wikipedia.
The text is licensed under Creative Commons - Attribution - Sharealike.
Additional terms may apply for the media files.