Practice question
A creditor obtains preliminary attachment of a debtor’s machine to secure a possible money judgment. The creditor says the attachment itself authorizes using the machine as its own production equipment. Which is correct?
- Attachment necessarily gives the creditor ownership.
- Every secured asset automatically becomes the applicant’s inventory.
- A provisional writ always is a final sale.
- The security purpose does not itself transfer ownership or an unrestricted personal-use right.
- The debt is conclusively paid by issuance alone.
Legal references
- Rules of Court, Rules 57-61, provisional-remedy purposes and the particular provisions identified in each explanation: https://lawphil.net/courts/rules/rc_1-71_civil.html
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