distraint distraint

Definition(s):

  • (n) the seizure and holding of property as security for payment of a debt or satisfaction of a claim

Usage(s):

  • Our dollar accounts in one bank, which my wife and I opened in 1985, long before I became a senator, were put on constructive distraint in complete violation of the law on .

Quotes

  • Mr. Binay, in a statement, said, "Government property is not subject to distraint or levy, and this is a clearly established principle in tax law. The move of the BIR, therefore, is patently unlawful and illegal."
    on Apr 8, 2010 By: Jejomar Binay Source: BusinessWorld Online

Word of the Day
maxim maxim
/ˈmæk səm /