How do we collect money from another business that owes for equipment?
The repair terms would be governed by contract law and the warranty applicable under the sales contract. Generally, a product must be fit for its intended use. There are implied warranties in every sales transaction that the goods sold are fit for the ordinary purposes for which such goods are used. This is called the "implied warranty of merchantability".
If you obtain a judgment for breach of the sales contract and that judgment goes unpaid, the judgment may be used to place a lien on the defendant's assets. In essence, the unpaid judgment is used to have the court order the sheriff or other authority to attach or seize the judgment debtor's assets. This process is sometimes referred to as executing a judgment.
The following are IN statutes:
IC 34-55-1-1 When a judgment requires the payment of money or....
When a judgment requires the payment of money or delivery of real or personal property, the judgment may be enforced by execution as provided in this chapter. When the judgment requires the performance of any other act, a certified copy of the judgment may be served upon:
(1) the party against whom the judgment is given; or
(2) the person or officer who is required by the judgment or by law to obey the judgment;
and the person's obedience to the judgment may be enforced. If the person refuses to obey the judgment, the person may be punished by the court as for contempt.
IC 34-55-1-3 There are three (3) kinds of executions:
There are three (3) kinds of executions:
(1) Execution against the property of the judgment debtor.
(2) Execution against the person of the judgment debtor.
(3) Execution for the delivery of the possession of real or personal property, or such delivery with damages for withholding real or personal property.