California Court holds Antique Tools Held as Inventory are Not Exempt from Execution of Judgment
Under California law, all property of a judgment debtor is subject to enforcement of judgment, with few statutory exceptions such as “[t]ools, implements, instruments...' under Section 704.060(a) of the Cal. Code Civ. Proc. Judgment debtors operated a business selling antique tools. When judgment creditor attempted to take some of their inventory in satisfaction of judgment, they objected. Held: Since tools held as inventory are not used in debtors' trade, they are not exempt from enforcement of judgment.
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I am a litigation lawyer, licensed to practice law in the State of California. You can reach me by phone at (310) 286-2000.
I am a litigation lawyer, licensed to practice law in the State of California. You can reach me by phone at (310) 286-2000.
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