absolute bar rule

absolute-bar rule. The principle that, when a creditor sells collateral without giving reasonable notice to the debtor, the creditor may not obtain a deficiency judgment for any amount of the debt that is not satisfied by the sale. [Cases: Mortgages 375, 559(3); Secured Transactions 230, 240. C.J.S. Mortgages §§ 674–676, 934–935, 937, 950; Secured Transactions §§ 162–170, 172, 174–175.]

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词条贡献者

双语律师Lorna，国际知名商学院金融专业，擅长翻译涉及金融创新和金融科技领域的法律文件。