Debtor - Law Dictionary Search Results
Home Dictionary Name: debtor Page: 4 Page 4 of about 322 results (0.002 seconds)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...
Interest
Interest, an interest for the purposes of the regula-tion was not limited to a direct financial interest and included membership of a panel such as the panel of which the claimant's solicitors were members that, therefore, the Claimant's Solicitors had had an interest in recommending the insurance which they recommend to her; that, in the circumstances, there had not been sufficient disclosure of that interest; and that, accordingly, there had been a material breach of regulation 4(2)(e)(ii) and the conditional fee agreement was unenforceable [See (English) Conditional Fee Agreements Regulation, 2000 (SI 2000/692), reg. 4(2)(c)(e)(ii)], Garrett v. Halton BC, (2007) 1 WLR 554 CA Cir.Interest, inter alia as the compensation fixed by agreement or allowed by law for the use or detention of money, or for the loss of money by one who is entitled to its use; especially, the amount owed to a lender in return for the use of the borrowed money [Black's Law Dictionary (7th Edn.) pp. 393-94 para 3...
Receiving order
Receiving order. An order of the court on the petition of a creditor, or of the debtor himself, granted for the protection of the estate on an act of bankruptcy being established. The order con-stitutes the official receiver the receiver of the debtor's property. Legal proceedings against the person or property of the debtor in respect of debts provable in bankruptcy can thenceforth be restrained by the official receiver. The effect of the order is that unless a scheme or composition is accepted by the creditors the debtor is adjudged bankrupt. See (English) Bankruptcy Act, 1914, ss. 3, 7, 37 (2), 107(4), and (English) Bankruptcy Rules, 1915, rr. 179-188A. Receiving orders in bankruptcy, whether or not known to affect land, must be registered at the Land Registry every five years or else the title of the trustee in bankruptcy will be void against a purchaser of a legal estate in good faith for money or money's worth without notice of an available act of bankruptcy under a conveyance ma...
lien
lien [Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind] : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an improvement made by a municipality and that secures payment of the taxes assessed to pay for the improvement attachment lien : a lien acquired on property by a creditor upon levy of an attachment car·ri·er's lien : a lien against freight conferring on the carrier the right to retain the property until the amount due is paid charging lien : a lien attaching to a judgment or recovery awarded to a plaintiff and securing payment of the plaintiff's attorney's fees and expenses called also special lien choate lien : a lien that requires no further action to be made enforceable and th...
Creditor
Creditor [Lat.], one who trusts or gives credit, correlative to debtor. A creditor is entitled totake out letters of administration if there be no next of kin, or the next of kin will not. And see BANKRUPTCY, ADMINISTRATION OF ASSETS, and COMPANY.(ii) includes a decree-holder, 'debt' includes a judg-ment-debt, and 'debtor' includes a judgement-debtor. [Provincial Insolvency Act, 1920, s. 2 (1) (a)]In relation to a bankrupt, means a person to whom any of the bankruptcy debts is owed, being, in the case of an amount falling within the Insolvency Act, 1986, s. 382(1) (c) Halsbury's Laws of England, Vol. 3(2), para 84, p. 52.Includes all creditors who may assent to, or take the benefit of, a deed of arrangement Deeds of Arrangement Act, 1914, s. 30(1) (UK) Halsbury's Laws of England, Vol. 3(2), para 830, p. 444....
Bankruptcy notice
Bankruptcy notice, a notice (taking the place of the 'debtor's summons' (see that title) under the (English) Bankruptcy Act, 1869) to pay a judgment debt for any amount, non-compliance with which notice within a limited time amounts, by s. 1(1)(g) of the (English) Bankruptcy Act, 1914, to an 'act of bankruptcy.' The notice may be given by any creditor who has obtained a 'final judgment' or 'final order,' and if the debtor does not within seven days of service of the notice, if served in England, either comply with its requirements or satisfy the Court that he has a cross demand equalling or exceeding the judgment debt, and which he could not set up in the action in which judgment was obtained, he commits an 'act of bankruptcy' (see that title). Two or more debts cannot be included in one notice. A substantial defect in the notice cannot be amended [Re a Debtor, 1908 (2) KB 684]....
Benefit of cession
Benefit of cession, means a debtor's immunity from imprisonment for debt. The immunity arises when the debtor's property is assigned to the debtor's creditors, Black Law Dictionary, 7th Edn., p. 151....
Appropriation of payments
Appropriation of payments, the application to one of several debts of a sum of money paid by a debtor on a general account. The general rule as to appropriation of payments is this: The debtor may in the first instance appropriate the payment, solvitur in modum solventis; if he omit to do so, the creditor may make the appropriation, recipitur in modum recipientis; if neither debtor nor creditor make any appropriation, the law appropriates the payment upon equitable principles and prima facie to the earlier debt, Mills v. Fowkes, (1839) 5 Bing NC 461; Clayton's Case, (1816) 1 Mer 605; The Mecca, 1897, AC 286. A creditor can appropriate a general payment to a statute-barred debt, but he cannot appropriate such a payment made before judgment, after a judgment deciding that such a debt is statute barred, Smith v. Betty, 1903 (2) KB 317. See CLAYTON'S CASE....
Crown debts
Crown debts. It is a prerogative of the Crownto claim priority for its debts before all other creditors, and to recover them by a summary process called an extent. See 33 Hen. 8, c. 39.Every person having money belonging to the Crown is a Crown-debtor. When upon in quisition a personis found to be a Crown-debtor by simple contract, the debt immediately becomes a specialty; but a person givien to the Crown a bond on condition is not a bond-debtor before the condition is broken.S. 28(1) of the Bankruptcy Act, 1914, provides that an order of discharge shall not release a bankrupt from his Crown debts.It is provided by the (English) Land Chargs Act, 1900 (63 & 64 Vict. c. 26), replaced by the Land Charges Act,1925, ss. 6 and 7, and see also the Law of Property Act, 1925, that Crown debts shall not affectlands until writ or ordr for the purpose of enforcing the judgment has been issued and registered. See Chitty's Statutes, tit. 'Land,' and titles EXTENT; PREFERENTIAL PAYMENTS....
Fieri facias
Fieri facias, usually abbreviated fi. fa. (that you cause to be made), a judicial writ of execution, the most commonly used that lies for him who has recovered any debt or damages in the King's Courts. It is a command to the sheriff, that of the goods and chattels of the party he 'cause to be made' the sum recovered by the judgment, with interest at 4l. per cent. from the time of entered-up judgment, to be rendered to the party who sued it out. If the sheriff return nulla bona, an alias fi. fa. may issue; and upon that being returned, a pluries or testatum fi. fa. may be issued into another county. The 12th s. of the Judgments Act,1838 (1 & 2 Vict. c. 110), authorizes the sheriff to seize money, bank notes, cheques, bills of exchange, etc., of the person against whose effects the writ is sued out; but he cannot seize money or bank notes after the death of the debtor, Johnson v. Pickering, (1908) 1 KB 1.A writ of execution that directs a marshal or sheriff to seize and sell a defendants...
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