Legal Dictionary of Pakistan

colorable claim

1. A claim that is legitimate and that may reasonably be asserted. given the facts presented and the current law (or a reasonable and logical extension or modification of the current law). 2. A claim in which the debtor and property holder are, its a tnatter of law, not adverse. one example of a colorable claim is one made by a person holding property as an agent or bailee of the bankrupt.