Priority Claim - Law Dictionary Search Results
priority claim
priority claim An unsecured claim that is entitled to be paid ahead
Priority
Priority, an antiquity of tenure in comparison with another less ancient; … it must, for the purposes of establishing priority among competing claims, be in writing, Law of Property Act, 1925, s. 137;
Chose
debt, etc., is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer … person from whom the assignor would have been entitled to claim such debt, etc., is effectual in law (subject to equities
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interest
levy on the property. Further, it provides the creditor with priority over competing claims against the property. terminable interest : an … among + esse to be] 1 : a right, title, claim, or share in property Article Nine security interest : security
priority
priority pl: -ties : precedence in exercise of rights in the … of rights in the same subject matter [a creditor] [a claim] 2 : of or relating to priority [a contest]
notice
in which a party having an interest in property has priority over any earlier unrecorded claims of which the party had … 1 a : a notification or communication of a fact, claim, demand, or proceeding see also process, service NOTE: The requirements
Preferential payments
by which these debts are directed to be paid in priority to all others; and by s. 264 (4) (b) of … Act, 1929, these debts are to have priority over the claims of holders of debentures or debenture stock under any floating
absolute priority rule
absolute priority rule : a rule that provides for the satisfaction in … a rule that provides for the satisfaction in full of claims of senior creditors before any payments can be made to
trustee in bankruptcy
purpose of making payments to the creditors according to the priority of their claims: as a : the trustee in a … payments to the creditors according to the priority of their claims: as a : the trustee in a chapter 7 or
Crown debts
Crown debts. It is a prerogative of the Crownto claim priority for its debts before all other creditors, and to recover
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