Dischargeable Debt - Law Dictionary Search Results
Home Dictionary Name: dischargeable debtdischargeable debt
dischargeable debt A debt for which the Bankruptcy Code allows the debtor's personal liability to be eliminated. Source: Administrative Office of the U.S. Courts ...
objection to dischargeability
objection to dischargeability A trustee's or creditor's objection to the debtor being released from personal liability for certain dischargeable debts. Common reasons include allegations that the debt to be discharged was incurred by false pretenses or that debt arose because of the debtor's fraud while acting as a fiduciary. Source: Administrative Office of the U.S. Courts ...
discharge
discharge 1 : to release from an obligation: as a : to relieve of a duty under an instrument (as a contract or a negotiable instrument) ;also : to render (an instrument) no longer enforceable [a formal instrument…may be discharged by either cancellation or surrender "J. D. Calamari and J. M. Perillo"] b : to release (a debtor in bankruptcy) from liability for his or her debts 2 : to release from confinement, custody, or care [ a prisoner] 3 a : to dismiss from employment : terminate the employment of b : to release from service or duty [ a jury] [ a witness] 4 a : to get rid of (as a debt or obligation) by performing an appropriate action b : to fulfill a requirement for [evidence which is required to the burden of going forward "W. R. LaFave and A. W. Scott, Jr."] 5 : to order (a legislative committee) to end consideration of a bill in order to bring it before the house for action dis·charge·abil·i·ty [dis-chÄ r-jə-bi-lə-tē...
Discharge
Discharge, to relieve of a duty. A sheriff is said to be discharged of his prisoner; a prisoner discharged from custody; a jury discharged from the cause. See next title.A rule nisi is discharged when the Court decides that it shall not be made absolute, i.e., that the party who obtained the rule nisi should take nothing, and the suit remain in statu quo. See RULE.In a warrant case instituted otherwise than on a police report, 'discharge' or 'acquittal' of accused are distinct concepts applicable to different stages of the proceedings in Court. The legal effect and incidents of 'discharge' and 'acquittal' are also different. An order of discharge in a warrant case instituted on complaint, can be made only after the process has been issued and before the charge is framed. S. 253(1) shows that as a general rule there can be no order of discharge unless the evidence of all the prosecution witnesses has been taken and the Magistrate considers for reasons to be recorded, in the light of the...
Order of Discharge
Order of Discharge, an order made under the Bankruptcy Act 1914, s. 26, by a Court of bankruptcy, the effect of which is to discharge a bankrupt from all debts, claims, or demands provable under the bankruptcy, except Crown debts, debts incurred by fraud, and certain judgments (s. 28)....
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 ...
reaffirm
reaffirm 1 : to affirm again 2 : to agree to the payment of (a dischargeable debt) with a creditor prior to the discharge of debts in bankruptcy [ed her debt in order to keep her car] re·af·fir·ma·tion [-a-fər-mā-shən] n ...
Bankruptcy debt
Bankruptcy debt, in relation to a bankrupt, means (1) any debt or liability to which he is subject at the commencement of the bankruptcy or (b) any debt or liability to which he may become subject after the commencement of the bankruptcy (including after his discharge from bankruptcy) by reason of any obligation incurred before commencement of the bankruptcy, R (Steele) v. Birmingham City Council, (2006) 1 WLR 2380 (CA).Bankruptcy debt, in relation to a bankrupt, means (1) any debt or liability to which he is subject at the commencement of the bankruptcy (b) any debt or liability to which he may become subject after the commencement of the bankruptcy by reason of any obligation incurred before the commencement of the bankruptcy, Glenister v. Rowe, (1999) 3 WLR 716 (CA)....
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....
release
release re·leased re·leas·ing 1 a : to relieve or free from obligation, liability, or responsibility [the debtor is released from all dischargeable debts] b : to give up (a claim, title, or right) to the benefit of another person : surrender 2 : to set free from confinement [was released on personal recognizance] n 1 a : discharge from an obligation or responsibility that bars a cause of action [did not effect a of the school for any negligence] b : the giving up or renunciation of a right or claim that bars a cause of action [was a of the remainder of the debt] NOTE: A release may in some situations require consideration in order to be valid. A release of one joint obligor sometimes is considered to release all the obligors. 2 : an act or instrument that effects a release [signed a issued by the insurer] called also release of all claims compare hold harmless 3 : the act or instance of freeing esp. from custody ...
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