Dictionary of Law
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claim in bankruptcy :: legal definition


Claim in bankruptcy - n. the written claim filed by persons or businesses owed money (creditors) by a party who files for bankruptcy (debtor) to benefit from the distribution if money becomes available. The known creditors receive written notice of the bankruptcy and will receive a creditor's claim form. They may also receive notice that the bankrupt party has no assets to distribute and that they should not file a claim until further notice (this is bad news for the creditor).

See also: bankruptcy bankruptcy proceedings and Related Law Terms ↓


Related Law Terms

acceptance :: n. 1) receiving something from another with the in ... ered into. See also: contract offer
amend :: v. to alter or change by adding, subtracting, or s ... mended pleading statute stipulation
amicus curiae :: n. Latin for "friend of the court," a party or an ... party's presentation to the court.
appeal :: 1) v. to ask a higher court to reverse the decisio ... ng, as in "he has filed an appeal."
appearance :: n. the act of a party or an attorney showing up in ... neral appearance special appearance
attachment :: n. the seizing of money or property prior to getti ... bond. See also: writ of attachment
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
clean hands doctrine :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
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
consign :: v. 1) to deliver goods to a merchant to sell on be ... or by order of a bankruptcy judge.
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
court costs :: n. fees for expenses that the courts pass on to at ... ee also: cost bill prevailing party
creditor's claim :: n. a claim required to be filed in writing, in a p ... e also: claim in bankruptcy probate
cross-complaint :: n. after a complaint has been filed against a defe ... g prayer service of process summons
damages :: n. the amount of money which a plaintiff (the pers ... liquidated damages special damages
deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed
default :: 1) n. failure to respond to a summons and complain ... default judgment notice of default
discovery :: n. the entire efforts of a party to a lawsuit and ... ee also: deposition interrogatories
divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support
enjoin :: v. for a court to order that someone either do a s ... so: injunction temporary injunction
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
heir :: n. one who acquires property upon the death of ano ... y pretermitted heir succession will
hold harmless :: n. a promise to pay any costs or claims which may ... e other party agrees to cover them.
impleader :: n. a procedural device before trial in which a par ... than having two suits in a series.
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
inheritance :: n. whatever one receives upon the death of a relat ... intestacy intestate succession will
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
intervene :: v. to obtain the court's permission to enter into ... ntion joinder multiplicity of suits
joint and several :: adj. referring to a debt or a judgment for neglige ... ution contributory negligence joint
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
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
misjoinder :: n. the inclusion of parties (plaintiffs or defenda ... ent transactions. See also: joinder
motion :: n. a formal request made to a judge for an order o ... g, an oral motion may be permitted.
motion for a summary judgment :: n. a written request for a judgment in the moving ... strict procedures. See also: motion
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
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
petition :: 1) n. a formal written request to a court for an o ... dent. See also: divorce motion writ
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").
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
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
reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation.
reorganization :: n. the implementation of a business plan to restru ... also: bankruptcy corporation merger
sanction :: n. 1) a financial penalty imposed by a judge on a ... ction." See also: contempt of court
satisfaction of judgment :: n. a document signed by a judgment creditor (the p ... ord. See also: abstract of judgment
service by mail :: n. mailing legal pleadings to opposing attorneys o ... attorney by mail. See also: service
setoff :: (offset) n. a claim by a defendant in a lawsuit th ... ee also: affirmative defense offset
shortening time :: n. an order of the court in response to the motion ... e notice is served within 24 hours.
specific performance :: n. the right of a party to a contract to demand th ... artwork. See also: contract prayer
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
subrogee :: n. the person or entity that assumes the legal rig ... aid. See also: subrogation subrogor
surrebutal :: n. in written or oral legal argument, the response ... h until the judge stops the debate.
tax costs :: n. a motion to contest a claim for court costs sub ... sts" to avoid paying these charges.
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.
unjust enrichment :: n. a benefit by chance, mistake or another's misfo ... perty. See also: constructive trust
venue :: n. 1) the proper or most convenient location for t ... ion. See also: forum non conveniens
voluntary bankruptcy :: n. the filing for bankruptcy by a debtor who belie ... kruptcy court. See also: bankruptcy
will :: n. a written document which leaves the estate of t ... will and testament probate testator
wrongful death :: n. the death of a human being as the result of a w ... ual beneficiaries (family members).

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.