Creditor - A person to whom a debt is owed by another.
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Creditor at Legal Glossary What is it? A person or entity (such as a bank) to whom a debt is owed.
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Creditor definition:
A person to whom money, goods or services are owed by the debtor.
Related Terms: Debtor, Debt
A person to whom a debt or some other obligation is due.
CREDITOR - A person (or institution) to whom money is owed.
A creditor is someone who has a right to require the fulfilment of an obligation or contract.
Creditors may be divided into personal and real.
Creditor's Claim
It is a the claim by the person or organisation (creditor) who is suppose to get the money from another person or entity who may have decalred themselve bankrupt or any person who is dead. Such claim needs to be in writing.
Creditor: A person to whom money is owed.
Cross Reference Case: A separate case involving one parent in common, but in which there are other children from a different mother or father. Either parent can have cross reference cases.
Creditor who has obtained against a debtor a Judgment through which the creditor can obtain the sum due him.
Creditor -A person to whom a debt is owed by another.
Crime -An act in violation of the penal laws of a state or the United States. A positive or negative act in violation of penal law.
Creditor:
A person to whom money, goods or services are owed by the debtor.
That person who has a claim, preferred, secured or unsecured, provable under the Bankruptcy and Insolvency Act.
CREDITOR: A person (or institution) to whom money is owed.
CROSS EXAMINATION: The questioning of an opposing party's witness about matters brought up during direct examination.
CREDITOR: A person (or institution) to whom money is owed.
CRIME - A positive or negative act in violation of penal law; an offense against the state classified either as a felony or misdemeanor.
Creditor's Remedies
The area of law dealing with the legal means and procedures to collect debts and judgments.
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creditor A person to whom a debt is owing by another person, called the debtor.
crime An activity dangerous to the whole of society, as determined by law.
Creditor's bill
Definition
: an equitable bill by which a creditor who has won a court judgment against a debtor can compel payment from the debtor out of the property that is not otherwise reachable by legal process
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Notice To Creditors
Nuncupative Will
The Legal Dictionary has taken steps to ensure that all legal, law, and court terms contained in our legal dictionary are correct.
9. - 5. A creditor has a right to enter the close of his debtor to demand the duty owing, though it is not to be rendered there. Cro. Eliz. 876.
OBLIGEE or CREDITOR
contracts. The person in favor of whom some obliga- tion is contracted, whether such obligation be to pay money, or to do, or not to do something.... more ...
Debtor and Creditor Law
Mortgage Law Overview
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judgment creditor - The party in whose favor a judgment has been rendered.
judgment debtor - The party against whom a judgment has been rendered.
Notice to creditors - A notice given by the bankruptcy court to all creditors of a meeting of creditors.
Nuncupative will - An oral (unwritten) will.
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For example, a creditor at the request of the debtor agrees to take another person as his debtor in the place of the original debtor, its effect is to release the obligation of the former party and to impose them on the new party.
Secured Creditor - A creditor holding a lien (secured claim) on property.
Security - A guarantee, as applied to an obligation, such as a mortgage, given a debtor to insure the payment or performance of its debt.
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.
security deposit ...
This term is often used in bankruptcy proceedings where creditors are said to be "pari passu" which means that they are all equal and that distribution of the assets will occur without preference between them.
Debtor A person who owes money, goods or services to another, the latter being referred to as the creditor.
stops, the rights of creditors to sue a person or company that’s filed for protection in the bankruptcy court. If a creditor can show his claim is based on a fraud or crime, i.e.
Pari passu: (Latin: with equal step) Often used in bankruptcy proceedings where creditors are said to rank pari passu, which means the assets are distributed without preference between them.
satisfaction of judgment - A document such as an execution enforced by the judgment creditor and indicating that the judgment has been paid.
For example, if the contract is a loan contract, a tender would be an act of the debtor where he produces the amount owing and offers to the creditor.
The Government then placed in the wheel cheques in payment of commodities and services rendered for conveyance to their creditors, and the creditors in turn used the wheel to carry the cheques to the credit of their accounts in the banks, ...
The arrest is one of the means which the law gives the creditor to-secure the person of his debtor while the suit is pending, or to compel him to give security for his appearance after judgment. Art. 211.
Balance of Probabilities(see Burden of Proof)BankruptInsolvent and involved in a proceeding to become bankrupt or against whom a creditor has started a proceeding to put them into bankruptcy.
in law, device for protecting a creditor by giving him an interest in property of his debtor. In common law a mortgage was a conditional sale; i.e.
to obtain a court order directing a party holding funds (such as a bank) or about to pay wages (such as an employer) to an alleged debtor to set that money aside until the court determines (decides) how much the debtor owes to the creditor.
A guarantor undertakes that he will repay a debt incurred by another person or company to a bank or other creditor and the bank or other creditor can require him to pay the outstanding amount if that person cannot or will not pay their indebtedness.
Court order made so that a person who is owed money (creditor) can obtain full or part payment from a third party whom in fact owes or holds money for the debtor.
A trader who secretes himself, or does certain other acts tending to defraud his creditors. 2 Bl. Com. 285, 471. See Trader.
A legally declared inability of an individual or organization to pay their creditors. A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts.
Property in bankruptcy usually is administered for the benefit of the bankrupt person's creditors. Some forms of bankruptcy seek to discharge all debt if there are no assets to distribute to the creditors.
garnishment - a remedial device used by a creditor to have property of the debtor or money owed to the debtor that is in the possession of a third party attached to pay the debt to the creditor.
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Term: Subordination Agreement
Definition: An agreement establishing the priority of payment of claims, whereby a creditor may agree that claims of other creditors are discharged before payment is made to the subordinated creditor.
pignus - a pledge by which a creditor obtained possession of property. Ownership remained with the debtor, but the creditor had certain rights upon default.
Winding Up: The process of paying creditors and distributing assets that occurs before the dissolution of a corporation.
Witness: One who testifies at a trial or a deposition.
Secured debts - In bankruptcy, a debt is secured if the debtor gave the creditor a right to repossess the property or goods used as collateral.
Securities an Exchange Commission (SEC) - A federal agency which monitors the securities industry.
Deficiency Judgment - Judgment for a creditor for an amount equal to the difference between the amount owed by the debtor and the amount collected from sale of the collateral.
Judgment debtor - One who owes money as a result of a judgment in favor of a creditor.
Judicial lien - A lien obtained by judgment or other judicial process against a debtor.
Involuntary bankruptcy - A proceeding initiated by creditors requesting the bankruptcy court to place a debtor in liquidation.
Joint and Several
A liability which allows the creditor to sue any one of the debtors or sue all together.
Secured Debt: In bankruptcy proceedings, a debt is secured if the debtor gave the creditor a right to repossess the property or goods used as collateral.
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general assignmentThe voluntary transfer, by a debtor, of all property to a trustee for the benefit of all of his or her creditors.
WRIT OF ATTACHMENT An order of court to seize a debtor's property so as to secure the claim of a creditor.
 See also: Credit, Law, Person, State, Court
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