Definition of attachment

a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p
q
r
s
t
u
v
w
y
z

search

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

Mark McCracken

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".


Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.