Priority Action - Law Dictionary Search Results
priority action
Matched in: Term priority action
Priority
Matched in: Term Priority
Dearle v. Hall
takes its name from this case, reported 1823, 3 Russ. 1, originated with the bankruptcy rule conferring the priority of assignments of choses in action according to the date of notice to the debtor by the assignment,
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Abstract of title
they should have notice of the intended purchase, in order to exclude a subsequent purchaser or incumbrancer, since priority of notice gives priority of equity in dealings with equitable things in action, and dealings (after 1925) inequitable
office action
Matched in: Term office action
Assets
at common law brought against him by a creditor; they were administered in accordance with certain rules of priority. Equitable assets, on the other hand were those which would only be made available for the payment of … which the personal representative became entitled virtute officii and for which he would have been answerable in an action at common law brought against him by a creditor; they were administered in accordance with certain rules of
class
b : a group of securities (as stocks or bonds) having similar distinguishing features (as voting rights or priority of redemption) c : a group whose members are represented in a class action d : protected class
Chose
assignor would have been entitled to claim such debt, etc., is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice (a) the … that which is movable, and may be taken away, or carried from place to place. (3) Chose in action, otherwise called chose in suspense, a thing of which a man has not the possession or actual enjoyment,
Equitable mortgage
a formal deed or a written memorandum, notice being given to the trustees in order to preserve the priority. As a rule these mortgages include mortgages (not being mortgages of a legal estate) under a trust for … the subject of the mortgage is an equity of redemption, which is merely a right to bring an action in the Chancery Division to redeem the estate. Now under the (English) L.P. Act, 1925, Sched. I., Parts
Debt
known as 'Hinde Palmer's Act'), special contract debts, as by bonds, covenants, and other instruments under seal, took priority over debts by simple contract; but this Act abolished that distinction as to priority. As to attachment of … Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed
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