ONE-ACTION RULE

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. ¡ª Also termed one-form-of-action rule. [Cases: Mortgages 218.4, 337, 411. C.J.S. Mortgages ¡ì¡ì 325¨C326, 335, 456, 473, 494, 581.]
How do bilingual lawyers in China usually translate the term ONE-ACTION RULE?
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