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creditor's claim :: legal definition


Creditor's claim - n. a claim required to be filed in writing, in a proper form by a person or entity owed money by a debtor who has filed a petition in bankruptcy court (or had a petition filed to declare the debtor bankrupt), or is owed money by a person who has died. Notice of the need to file a creditor's claim in the estate of a person who has died must be printed in a legal advertisement giving notice of death. Then a creditor has only a few months to file the claim, and it must be in a form approved by the courts.

See also: claim in bankruptcy probate and Related Law Terms ↓


Related Law Terms

account stated :: n. a statement between a creditor or the person to ... ending on the state. See also: debt
ad litem :: adj. legal Latin meaning "for the purposes of the ... of age. See also: guardian ad litem
after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction
answer :: n. in law, a written pleading filed by a defendant ... emurrer general denial verification
assignment for benefit of creditors :: n. a method used for a debtor to work out a paymen ... ar basis to pay the debtor's bills.
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bankruptcy proceedings :: n. the bankruptcy procedure is: a) filing a petiti ... ankruptcy court claim in bankruptcy
bulk sales acts :: n. state laws (spelled out in the Uniform Commerci ... g without paying current creditors.
claim :: 1) v. to make a demand for money, for property, or ... the government, it is lawsuit time.
claim against a governmental agency :: n. any time one believes he/she has a right to pay ... orter than other types of lawsuits.
claim against an estate :: n. upon the death of a person and beginning of pro ... ade to the heirs. See also: probate
claim in bankruptcy :: n. the written claim filed by persons or businesse ... : bankruptcy bankruptcy proceedings
commencement of action :: n. an action (a lawsuit) commences (begins officia ... ing a complaint. See also: petition
common counts :: n. claims for debt alleged in a lawsuit (included ... so: cause of action complaint count
complaint :: n. the first document filed with the court (actual ... g prayer service of process summons
conservator :: n. a guardian and protector appointed by a judge t ... ies. See also: conservatee guardian
consign :: v. 1) to deliver goods to a merchant to sell on be ... or by order of a bankruptcy judge.
constructive notice :: n. a fiction that a person got notice even though ... personally. See also: constructive
contributory negligence :: n. a doctrine of common law that if a person was i ... : comparative negligence negligence
copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark
corporation :: n. an organization formed with state governmental ... ation public corporation securities
debtor in possession :: n. in bankruptcy proceedings when a debtor has fil ... n possession." See also: bankruptcy
default :: 1) n. failure to respond to a summons and complain ... default judgment notice of default
discharge in bankruptcy :: n. an order given by the bankruptcy judge, at the ... red creditors. See also: bankruptcy
divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support
examination :: n. 1) the questioning of a witness by an attorney. ... irect examination testimony witness
file :: 1) v. to deposit with the clerk of the court a wri ... rrespondence and notes on the case.
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
garnishment :: n. the entire process of petitioning for and getti ... heriff. See also: garnish garnishee
guardian :: n. a person who has been appointed by a judge to t ... torship. See also: conservator ward
head of household :: n. 1) in federal income tax law, the person filing ... n or daughter. 3) "head of family."
in personam :: adj. (in purr-soh-nam) from Latin for "directed to ... here. See also: in rem jurisdiction
insanity :: n. mental illness of such a severe nature that a p ... M'Naughten rule temporary insanity
insolvency :: n. 1) the condition of having more debts (liabilit ... the property. See also: bankruptcy
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
joint and several :: adj. referring to a debt or a judgment for neglige ... ution contributory negligence joint
joint liability :: n. when two or more persons are both responsible f ... See also: joinder joint and several
judgment creditor :: n. the winning plaintiff in a lawsuit to whom the ... 's rights judgment prevailing party
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.).
libel :: 1) n. to publish in print (including pictures), wr ... libel per se public figure slander
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
notice to quit :: n. the notice given by a landlord (owner) to a ten ... h-to-month notice unlawful detainer
offset :: 1) n. also called a "setoff," the deduction by a d ... e also: counterclaim defense setoff
paid into court :: adj. referring to money deposited with the clerk o ... differences. See also: interpleader
party :: n. 1) one of the participants in a lawsuit or othe ... y real party in interest respondent
personal service :: n. delivering a summons, complaint, notice to quit ... process substituted service summons
preference :: n. in bankruptcy, the payment of a debt to one cre ... nds or assets. See also: bankruptcy
priority :: n. the right to be first or ahead of the rights or ... (in the "race to the courthouse").
probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will
process :: n. in law, the legal means by which a person is re ... service of process subpena summons
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title
ransom :: 1) n. money paid to a kidnapper in demand for the ... ive. See also: abduction kidnapping
real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust.
receiver :: n. 1) a neutral person (often a professional trust ... owing they were obtained illegally.
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
reorganization :: n. the implementation of a business plan to restru ... also: bankruptcy corporation merger
satisfaction of judgment :: n. a document signed by a judgment creditor (the p ... ord. See also: abstract of judgment
service of process :: n. the delivery of copies of legal documents such ... by publication substituted service
setoff :: (offset) n. a claim by a defendant in a lawsuit th ... ee also: affirmative defense offset
standing :: n. the right to file a lawsuit or file a petition ... so: actual controversy jurisdiction
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
timely :: adj. within the time required by statute, court ru ... ed on the 61st day is not "timely."
toll :: v. 1) to delay, suspend or hold off the effect of ... bridge or take passage on a ferry.
tools of trade :: n. in bankruptcy law, the equipment a person requi ... pay creditors. See also: bankruptcy
trustee in bankruptcy :: n. a person appointed by a bankruptcy court to sup ... f the debtors. See also: bankruptcy
voluntary bankruptcy :: n. the filing for bankruptcy by a debtor who belie ... kruptcy court. See also: bankruptcy

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - C

C.I.F. :: n. the total of cost, insurance and freight charge ... aid on goods purchased and shipped.
calendar :: 1) n. the list of cases to be called for trial bef ... clerk of the court calendars cases.
calendar call :: n. the hearing at which a case is set for trial. ... g at which a case is set for trial.
call :: n. the demand by a corporation that a stockholder ... assessment on shares already owned.
calumny :: n. the intentional and generally vicious false acc ... 's reputation. See also: defamation
cancel :: v. to cross out, annul, destroy, void and/or resci ... g, so that it cannot be used again.
cancellation :: cancel ... cancel
caning :: n. a punishment for crimes employed in certain Asi ... last century in the United States.
canon law :: n. laws and regulations over ecclesiastical (churc ... nduct with no religious connection.
cap :: n. slang for maximum, as the most interest that ca ... "adjustable rate" promissory note.
capital :: 1) n. from Latin for caput, meaning "head," the ba ... count capital assets stock in trade
capital account :: n. the record which lists all basic assets of a bu ... or the alleged value of good will.
capital assets :: n. equipment, property, and funds owned by a busin ... . See also: capital capital account
capital expenditure :: n. payment by a business for basic assets such as ... y intended to improve productivity.
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
capital investment :: capital expenditure ... capital expenditure
capital offense :: n. any criminal charge which is punishable by the ... . See also: bail capital punishment
capital punishment :: n. execution (death) for a capital offense. The U. ... or death. See also: capital offense
capital stock :: n. the original amount paid by investors into a co ... price. See also: corporation stock
capitalization :: n. 1) the act of counting anticipated earnings and ... for conversion into capital assets.