Priority Action - Law Dictionary Search Results
Abatement
of legacies, upon a deficiency of assets after payment of the debts they abate in proportion, unless a priority is specially given to any particular legacy. A testator is always presumed to intend that the legacies shall … Abatement, a making less:- (1) Abatement of Freehold.-The title of a real action which has been abolished. This takes place where a person dies seised of an inheritance, and before the
Magna Carta
and their sureties appears to be clear and satisfactory. It is the prerogative of the Crown to claim priority for taxes and penalties before all other creditors, and to recover by a very prompt and efficacious process, … by them, shall be referred to our justicers of the bench, and there shall be ended.' Assizes or actions of novel disseisin and mort-dauncestor have long been abolished, and more simple remedies established. A novel disseisin was
Remainder
in remainder (if there be any), otherwise the estate in reversion, will become an estate in possession, with priority as to the estate in remainder, when there are several, according to the order in which they are … and restored the rules relating to contingent remainders to their pristine vigour although the Act had abolished real actions on which they were largely based. This Act, however, provided that the accidental determination by forfeiture, surrender or
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Deposit
borrowed sum of money constitutes an equitable mortgage which does not require registration to establish its validity or priority of effect, see LAND CHARGES; NOTICE; RESCISSION; STAKEHOLDER. Includes deposit of money with a bank company, proprietary concern, … 49. By s. 49(2), where the Court refuses to grant specific performance of a contract or in any action for the return of a deposit the Court may, if it thinks fit, order the repayment of any
notice
of, relating to, or being a recording act in which a party having an interest in property has priority over any earlier unrecorded claims of which the party had no notice compare pure race, race-notice … [appeals noticed for the coming session] [a noticed shareholder meeting] 2 : to recognize formally [in a civil action or proceeding, the court shall instruct the jury to accept as conclusive any fact judicially noticed "Federal Rules
grace period
security interests (as those in fixtures or purchase money security interests) must be perfected in order to have priority over conflicting security interests under Article 9 of the Uniform Commercial Code called also days of grace … grace period : a period of time beyond a scheduled date during which a required action (as payment of an obligation) may be taken without incurring the ordinarily resulting adverse consequences (as penalty or
lien
or equitable process (as judgment, levy, attachment, or execution) ju·nior lien : a lien that is lower in priority relative to other liens landlord's lien : a lien against the goods and valuables of a tenant to … 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 that identifies the lienor, the property subject to the lien, and the amount
privilege
law of Louisiana : a right of a creditor conferred by the nature of a debt to have priority over the debtor's other creditors 2 : any of various fundamental or specially sacred rights considered as particularly … liability granted as a special benefit, advantage, or favor: as a : an exemption from liability where an action is deemed to be justifiable (as in the case of self-defense) or because of the requirements of a
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