Dictionary of Law
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priority :: legal definition


Priority - n. the right to be first or ahead of the rights or claims of others. In bankruptcy law, the right to collect before other creditors is given to taxing authorities, judgment holders, secured creditors, bankruptcy trustees and attorneys. The right also can apply to mortgages, deeds of trusts or liens given priority in the order they were recorded (in the "race to the courthouse").


Related Law Terms

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
claim in bankruptcy :: n. the written claim filed by persons or businesse ... : bankruptcy bankruptcy proceedings
creditor's claim :: n. a claim required to be filed in writing, in a p ... e also: claim in bankruptcy probate
judgment creditor :: n. the winning plaintiff in a lawsuit to whom the ... 's rights judgment prevailing party
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
preference :: n. in bankruptcy, the payment of a debt to one cre ... nds or assets. See also: bankruptcy
reorganization :: n. the implementation of a business plan to restru ... also: bankruptcy corporation merger

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 - P

paid into court :: adj. referring to money deposited with the clerk o ... differences. See also: interpleader
pain and suffering :: n. the physical and mental distress suffered from ... l damages special damages suffering
palimony :: n. a substitute for alimony in cases in which the ... the relationship. See also: alimony
pander :: 1) v. to solicit customers for a prostitute. 2) n. ... ons or favors. See also: prostitute
panderer :: n. 1) a person who panders or solicits for a prost ... special interests. See also: pander
panel :: n. the list of people selected to appear for jury ... or jury duty. See also: jury venire
paper hanger :: n. slang for a person who criminally writes and ca ... ey in them. See also: forgery fraud
par :: n. 1) an equal level. 2) the face value of a stock ... common stock preferred stock stock
paralegal :: n. a non-lawyer who performs routine tasks requiri ... h less than that for the attorneys.
paramount title :: n. a right to real property which prevails over an ... n's claim of title. See also: title
parcel :: n. a defined piece of real estate, usually resulti ... See also: real estate real property
pardon :: 1) v. to use the executive power of a Governor or ... also: amnesty commutation reprieve
parens patriae :: (paa-rens pat-tree-eye) n. Latin for "father of hi ... pport custody divorce guardian ward
parent :: n. the lawful and natural father or mother of a pe ... natural parent. See also: adoption
parental neglect :: n. a crime consisting of acts or omissions of a pa ... usive or sexually predatory person.
pari delicto :: adj. equal fault. See also: in pari delicto ... al fault. See also: in pari delicto
parish :: n. 1) a geographic area served by a church (partic ... overnmental equivalent of a county.
parody :: n. the humorous use of an existing song, play, or ... l significance. See also: copyright
parol :: adj. oral. See also: parol evidence rule ... oral. See also: parol evidence rule
parol evidence rule :: n. if there is evidence in writing (such as a sign ... or contradict the written document.