Debts And Liabilities - Law Dictionary Search Results

heir

the amount of his or her liability for the decedent's debts bod·i·ly heir : heir of the body in this entry … of inventory which limits the amount of his or her liability for the decedent's debts bod·i·ly heir : heir of the

extinguish

void : nullify 3 : to get rid of (a debt or other liability) by payment or other compensatory adjustment ex·tin·guish·able … 3 : to get rid of (a debt or other liability) by payment or other compensatory adjustment ex·tin·guish·able adj ex·tin·guish·ment n

codebtor

codebtor : one that shares liability for a debt : a fellow debtor … codebtor : one that shares liability for a debt : a fellow debtor

acquittal

acquittal 1 : release or discharge from debt or other liability 2 : a setting free or deliverance … acquittal 1 : release or discharge from debt or other liability 2 : a setting free or deliverance from the charge

liquidate

litigation the precise amount of ;also : to settle (a debt) by payment or other adjustment 2 a : to determine … payment or other adjustment 2 a : to determine the liabilities and apportion the assets of esp. in bankruptcy or dissolution

Surety and guarantor

Surety and guarantor, are both answerable for debt, default, or miscarriage of another but liability of guarantor is, … both answerable for debt, default, or miscarriage of another but liability of guarantor is, strictly speaking, secondary, and collateral, while that

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