Grab Law Law and Legal Definition
Grab law refers is a statute that deals with debt collection and providing remedies outside the scope of federal bankruptcy law. For example, attachment and garnishment.
Grab law governs debtor and creditor transactions that emphasize the importance of prompt action by creditors. It also ensures payment of the debtor's outstanding debts. Under grab law, quicker the creditor acts to seize or "grab" the debtor's assets, the greater the chance the creditor's claims will be satisfied. As a result, grab law has come to designate aggressive, and is considered as an aggressive debt collection practice. [Pleasant Hill Cemetery v. Davis, 76 Me. 289 (Me. 1884)].
