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Garnishee

Garnishee, a debtor who has been warned to pay his debt not to his own creditor but to some third party

Debitor

A debtor

Extent

of execution at the suit of a subject, because under it the body, lands, and goods of the debtor may all be taken at once, in order to compel the payment of the debt. It is not

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Bankrupt

and ruptus, Lat., broken, denoting thereby one whose shop or place of trade is broken or gone]. A debtor who does certain acts, tending to defeat or delay his creditors, may be adjudged bankrupt, and so made

exemptions, exempt property

exemptions, exempt property Certain property owned by an individual debtor that the Bankruptcy Code or applicable state law permits the debtor to keep from unsecured creditors. For example,

Magna Carta

seize any land or rent for any debt, as long as the present goods and chattels of the debtor do suffice to pay the debt, and the debtor himself be ready to satisfy there for. Neither shall

Act of Bankruptcy

Act of Bankruptcy, an act, the commission of which by a debtor renders him liable to be adjudged a bankrupt if the petition is presented within three months thereafter. Under

Banking policy

efficient use of these deposits and resources. [Banking Regulation Act, 1949 (10 of 1949), s. 5 (ca)]Means a debtor (as an individual or organization) whose property is subject to administration under the bankruptcy laws for the benefit

bankruptcy

: the quality or state of a bankrupt [filed for ] 2 : the administration of an insolvent debtor's property by the court for the benefit of the debtor's creditors [the debt was discharged in ] [

earmarking doctrine

earmarking doctrine [probably so called because the loan has been earmarked, i.e., specifically designated, by the debtor to pay a specific creditor] : a doctrine in bankruptcy law: a loan made by a third person

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