one action rule

one-action rule. In debtor-creditor law, the principle that when a debt is secured by real property, the creditor must foreclose on the collateral before proceeding against the debtor’s unsecured assets. — Also termed one-form-of-action rule. [Cases: Mortgages 218.4, 337, 411. C.J.S. Mortgages §§ 325–326, 335, 456, 473, 494, 581.]

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词条贡献者

资深译员Jeffrey，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，专注翻译各种与建设工程诉讼有关的法律文件。