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Preferential payments

and the (English) Companies Act, 1929, s. 264, by which these debts are directed to be paid in priority to all others; and by s. 264 (4) (b) of the Companies Act, 1929, these debts are to

Notice

a prior equitable right, who obtains the legal estate at the time of his purchase, is entitled to priority in equity, as well as at law, according to the maxim: 'Where conflicting equities are equal, the law

Mortgage

affects any purchaser (including a registered mortgagee) with notice of a prior title. Mortgages without the deeds obtain priority not necessarily by order of the date of creation but according to date of registration [s. 97, (English)

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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

Better Equity

court of equity the court holds that one of them, either on the ground of notice or of priority in time or for some other sufficient reason, is entitled to priority over the other, such claimant is

perfected

perfected : completed in accordance with statutory procedure for giving notice and thereby having a status of priority over security interests that are the subject of such procedure at a later date or that are not

perfect

court by satisfying procedural requirements b : to put (one's security interest) in a position or status having priority over subsequently perfected security interests or unperfected security interests by taking statutorily prescribed steps to give notice esp.

mortgage

of equity because the parties intended it to be a mortgage first mortgage : a mortgage that has priority over all other security interests except those imposed by law fixed rate mortgage : a mortgage having an

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

Hinde Palmer's Act

Hinde Palmer's Act. The Administration of Estates Act, 1869 (32 & 33 Vict. c. 46), which abolished the priority of specialty (see SPECIALTY) over simple contract debts in the administration of the estates of persons dying after

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