Consumer Debts - Law Dictionary Search Results
Home Dictionary Name: consumer debts Page 1 of about 22 results ( seconds)consumer debts
consumer debts Debts incurred for personal (as opposed to business) needs. Source: Administrative Office of the U.S. Courts ...
consumer debt
consumer debt ...
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 ...
consumer credit
consumer credit : credit extended by merchants or banks to finance the purchase of consumer goods (as home appliances) or services (as travel or hotel accommodations) compare consumer debt at debt ...
consumer debtor
consumer debtor A debtor whose debts are primarily consumer debts. Source: Administrative Office of the U.S. Courts ...
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 ...
Consumer
Consumer, 'consumer' would include 'any person who consumes electrical energy supplied by a person who generates electrical energy for his own consumption', Jiyajee Rao Cotton Mills Ltd. v. State of Madhya Pradesh, AIR 1963 SC 414: (1962) Supp 1 SCR 282.The definition of the word 'consumer' shows that it would include a person who consumes energy generated by himself. The proposition that in the matter of the levy of electricity tax the Court should differentiate between cases wherein the energy consumed has been generated by someone other than the consumer and those wherein such energy has been generated by the consumer himself cannot, therefore, be countenanced, State of Mysore v. West Coast Papers Mills Ltd., (1975) 3 SCC 448: AIR 1975 SC 5: (1975) 2 SCR 127.The word 'consumer' is a comprehensive expression. It extends from a person who buys any commodity to consume either as eatable or otherwise from a shop, business house, corporation, store, fair price shop to use of private or p...
Tippling Act
Tippling Act. The (English) Sale of Spirits Act, 1750 (24 Geo. 2, c. 40), s. 12, by which no person may maintain any action for any debt 'for any spirituous liquors, unless such debts shall have really been contracted at one time to the amount of 20s.'By the Sale of Spirits Act, 1862 (25 & 26 Vict. c. 38), the above enactment is repealed so far only as relates to spirituous liquors sold to be consumed elsewhere than on the premises where sold, and delivered at the residence of the purchaser thereof in quantities not less at any one time than a reputed quart.By the (English) County Courts Act, 1934, s. 188, replacing (English) County Courts Act, 1888, s. 182, no action may be brought in any Court to recover any debt alleged to be due for ale, porter, beer, cider, or perry, consumed on the premises where sold...
back end ratio (debt ratio)
back end ratio (debt ratio) a ratio that compares the total of all monthly debt payments (mortgage, real estate taxes and insurance, car loans, and other consumer loans) to gross monthly income. Source: U.S. Department of Housing and Urban Development ...
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] ...
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