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TeachMeFinance.com
attachment -- a seizure of a defendant's property by court order with the property held as security for any judgment the plaintiff may recover in a legal action.
historic definition...
Attachment -- A writ authorizing the seizure by the sheriff
of property belonging to the defendant in an action at law and
to hold it to satisfy any judgment that the plaintiff may
recover.
An attachment is a provisional remedy. It is the exercise
of judicial power to save a vigilant creditor from loss by taking
possession of property of the debtor and holding it to
satisfy any judgment that may afterwards be obtained. It is
usual to require from the creditor a bond in double the amount
of the claim for the payment of any loss or damage sustained
by the debtor should the attachment subsequently be vacated
as illegal or improperly granted. The grounds ordinarily
upon which an attachment are issued are non-residence, fraud
or deceit in obtaining credit, or actual or contemplated removal
of the person or property of the debtor from the jurisdiction
of the court.
About the author
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Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".
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Copyright © 2005 by Mark McCracken, All Rights Reserved.
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