revocatory action

Definition of "revocatory action"
  1. A lawsuit filed by a creditor with the aim of overturning a contract made by the debtor that intensifies the debtor's financial instability or insolvency
How to use "revocatory action" in a sentence
  1. The creditor, noticing potential fraud, initiated a revocatory action to void a transaction that increased the debtor's insolvency.
  2. With the help of her attorney, the creditor is taking a revocatory action to have the contract set aside, as it aggravated the debtor's financial condition.
  3. Due to the debtor's insolvency, the creditor chose to pursue a revocatory action, believing the debtor's recent transaction to be harmful to their financial interests.

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