Collectability Law and Legal Definition
Collectability refers to the extent to which defendants/perpetrators have the financial means to pay judgments from assets on hand. Assets include assets reasonably to be expected in the future, or financial assistance from such sources as insurance coverage.
The following is an example of a case law on collectability:
The issue of collectability is closely related to the issue of proximate causation. [Graefe v. Connolly, 1987 U.S. Dist. LEXIS 4077 (D. Ill. 1987)].