Once Action Rule
Legal definition for Indian law research
Definition
Once action rule, means 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, Black's Law Dictionary, 7th Edn., p. 1116.
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.