Priority - Law Dictionary Search Results
Presentation
one in turn according to seniority, and this part which the oldest thus takes by virtue of her priority of age is called the enitia pars. By 7 Anne, c. 18, s. 2, if co-parceners, or joint-tenants,
Attendant term
it, through the medium of the term so assigned, which being the elder title would have taken the priority in point of legal effect. Hence the expression 'protecting against mesne (middle) incumbrances.' Consult Sugden's Vendors and Purchasers,
senior
senior : having higher rank or priority [a lienholder] ;specif : having a claim on corporate assets and income prior to other securities
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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
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
bankruptcy
debts are repaid in a bankruptcy. The court determines which debts are to be repaid according to their priority, and the debtor is typically granted a discharge from unpaid debts that are dischargeable under the Bankruptcy Code.
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
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
inferior
inferior : of lower status, rank, or priority
interest
need to obtain a judgment in court and levy on the property. Further, it provides the creditor with priority over competing claims against the property. terminable interest : an interest (as in a life estate) that will
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