exemption lawglossary / EXEMPTION LAW exemption law. A law describing what property of a debtor cannot be attached by a judgment creditor or trustee in bankruptcy to satisfy a debt. See EXEMPT PROPERTY(1). [Cases: Exemptions 1; Homestead 1.] 词条贡献者 资深译员Pablo,毕业于一所培养高级翻译以及跨文化事务专家的精英大学,专注翻译各种与上市公司代理有关的法律文件。