Consumer Debtor - Law Dictionary Search Results
Home Dictionary Name: consumer debtorconsumer debtor
consumer debtor A debtor whose debts are primarily consumer debts. Source: Administrative Office of the U.S. Courts ...
credit
credit 1 : recognition see also full faith and credit 2 a : the balance in an account which may be drawn upon and repaid later compare loan b : the use of resources (as money) in the present obtained by the debtor's promise to repay the creditor in the future usually with interest as compensation to the creditor and often secured by a pledge of property or the right to attach the debtor's income in case of a failure to repay see also consumer credit compare debt c : financial reputation [to borrow money on the of the United States "U.S. Constitution art. I"] d : letter of credit 3 a : a deduction from an expense or asset account b : a reduction of an amount otherwise due ;esp : tax credit [a for child-care expenses] compare deduction, exclusion, exemption vt 1 : to supply goods on credit to 2 : to trust in the truth of 3 a : to enter upon the credit side of an account b : to place an amount to the credit of [ his account with ten dollars] ...
Security
Security, is anything that makes the money more assured in its payment or more readily recoverable as distinguished from e.g. a mere IOU which is only evidence of a debt. The word is not confined to a document which gives a charge on specific pro-perty but includes personal securities for money, Chetumal v. Noorbhoy, AIR 1928 Sind 89: 107 IC 213.Security, it may range from a mere personal bond or promissory note or guarantee, or even a mere pledge of something of no intrinsic value, to a mortgage of property from out of which the money can be realised, AIR 1963 Ker 128 (134). (T.P. Act, 1882, s. 134)Means 'a mortgage, charge, pledge, bond, deben-ture, indemnity, guarantee, bill, not or other right provided by the debtor....or at his request......to secure the carrying out of the obligations of the debtor....under the agreement, Wilson v. First Country Trust Ltd., (2001) LR 407 (QB). [Consumer Credit Act, 1974 (C39), ss. 189(1)]Means an instrument which guarantees the certainty of some ...
equipment
equipment : the implements used in an operation or activity ;specif in the Uniform Commercial Code : goods that are bought for or used in a business enterprise or by a debtor which is a nonprofit organization or a government agency and that are not inventory, farm products, or consumer goods ...
statement of intention
statement of intention A declaration made by a chapter 7 debtor concerning plans for dealing with consumer debts that are secured by property of the estate. Source: Administrative Office of the U.S. Courts ...
False pretence, obtaining property
False pretence, obtaining property, this offence, though allied to larceny, is distinguishable from it, as being perpetrated through the medium of a mere fraud; it is a misdemeanour at Common Law. By the Larceny Act, 1916, s. 32:-Every person who, by any false pretence:(1) with intent to defraud, obtains from any other person any chattel, money or valuable security, or causes or procures any money to be paid or any chattel or valuable security to be delivered to himself or to any other person for the use or benefit or on account of himself or any other person; or(2) with intent to defraud or injure any other person fradulently causes or induces any other person:(a) to execute, make, accept, endorse or destroy the whole or any part of any valuable security; or(b) to write, impress or affix his name or the name of any other person, or the seal of any corporate body or society, upon any paper or parchment in order that the same may be afterwards made or converted into, or used or dealt wi...
Debtor
Debtor, he that owes something to another. As to the meaning of 'debtor' in the Bankruptcy Act, 1914, see s. 1, sub-s. 2, of the Act. See CREDITOR and BANKRUPT.Debtor, in relation to an attachment of earnings order, or to proceedings in which a court has power to make an attachment of earnings order or to proceedings arising out of such an order, means the person by whom payment is required by the relevant adjudication to be made, Attachment of Earnings Act, 1971, sub-s. 2(e), 25(1) (UK) Halsbury's Laws of England 3(2), para 864, p. 465.In relation to a proposal for the purpose of Part VIII, means the individual making or intending to make that proposal; Insolvency Act, 1986, s. 385(1)(a) (UK) Halsbury's Laws of England 3(2), para 76, p. 466.Means the person to whom a motor vehicle is bailed under such an agreement, Shogum Finance Ltd. v. Hudson [HL (E)], (2003) 3 WLR [Hire-Purchase Act, 1964, s. 29(4)]In relation to a motor vehicle which has been bailed under a hire-purchase agreement...
good
good bet·ter best 1 : commercially sound or reliable [a risk] 2 a : valid or effectual under the law b : free of defects 3 a : characterized by honesty and fairness b : conforming to a standard of virtue [shall hold their offices during behavior "U.S. Constitution art. III"] ;also : characterized by or relating to good behavior n 1 : advancement of prosperity and well-being [for the of the community] 2 : an item of tangible movable personal property having value but usually excluding money, securities, and negotiable instruments usually used in pl. : as a pl : all things under section 2-105 of the Uniform Commercial Code that are movable at the time of identification to the contract for sale other than the money that is to be paid, investment securities, and choses in action b pl : all things under section 9-104 of the Uniform Commercial Code that are movable at the time that a security interest in them attaches or that are fixtures but excluding money, documents,...
Composition
Composition. 1. An amicable arrangement of a law-suit. See COMPROMISE.2. An agreement between a parson, patron, or ordinary, and the owner of lands, for commutation of tithes, e.g., that such lands shall for the future be discharged from payment of tithes, by reason of some land or other real recompense given to the parson in lieu and satisfaction thereof. Tithe Act, 1832, s. 2, and see TITHES.3. Also an agreement made between an insolvent debtor and his creditors, by which the latter accept a part of their debts in satisfaction of the whole. See ARRANGEMENTS.(According to Mr. Brandenstein) within the original meaning of that expression which -- at least in part -- were not consumed before the transfer to private use, or independently (or additionally) acquired goods, Fisher v. Finanzamt Burgdorf (ECJ), (2002) 2 WLR 1207.Is an agreement between the compounding debtor an all or some of his creditor by which the compounding creditors agree with the debtor, and, expressly or impliedly, wi...
debt
debt [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1 : something owed: as a : a specific sum of money or a performance due another esp. by agreement (as a loan agreement) [to pay the s…of the United States "U.S. Constitution art. I"] [a for alimony] b : an obligation to pay or perform on another's claim [discharged the ] compare asset, equity NOTE: It is often up to the courts to decide what is or is not a debt under various laws. Courts disagree whether criminal restitution is a debt under the Bankruptcy Code. The historical practice of imprisoning debtors for nonpayment is no longer used. antecedent debt : debt that is incurred prior to a property transfer paying or securing the debt compare preference bad debt : a debt that cannot be collected NOTE: An income tax deduction is allowed for bad debts. consumer debt : debt that is incurred by an individual primarily for the purchase of ...
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