Priority - Law Dictionary Search Results
subrogate
a second creditor) for another with regard to a legal right or claim [s the trustee to the priority and avoidance rights of certain unsecured creditors "J. J. White and R. S. Summers"] [the surety who pays
subordinate
or position 2 : submissive to or controlled by authority [sə-bȯrd-n-āt] vt -nat·ed -nat·ing : to assign lower priority to (as a debt or creditor) : postpone satisfaction of until after satisfaction of another [the equitable assignee
simultaneous death act
been adopted by most states. It covers situations where the title to or transfer of property depends on priority of death. In general, for determining the disposal of property, each decedent is considered to have survived the
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reduction to practice
for its desired purpose NOTE: Under federal patent law reduction to practice is taken into account in establishing priority of invention.
recording act
forth the requirements for recording a deed or interest (as in real property) and the standards for determining priority among different parties with claims on the same property see also notice, pure race, race-notice
receiver's certificate
certificate : a debt instrument that is issued by the receiver of a corporation and that may have priority over other liens against the company
Degree
O. Fr.; gradus, Lat.], a step; the difference in relative importance of the same species, also to denote priorities in family relationships; the state of a person, as to be a barrister-at-law, or to be a Bachelor
Qui prior est tempore potior est jure
by s. 137 of the Law of Property Act, 1925, has lessened the importance of the maxim. See PRIORITIES.
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