dictionary priority
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priority — pri·or·i·ty 1 /prī ȯr ə tē/ n pl ties: precedence in exercise of rights in the same subject matter secured interests have priority over unsecured ones priority 2 adj 1: having precedence over another in the exercise of rights in the same subject … Law dictionary
priority date — Generally the first person to apply for a patent for an invention will own the patent and this position applies in most countries. However the effect of international patent conventions is that the first application is termed the priority date… … Law dictionary
priority claim — An unsecured claim that is paid ahead of other unsecured claims based upon the priority scheme established by the Bankruptcy Code (SA Bankruptcy.com) See under claim; priority claim (Bernstein s Dictionary of Bankruptcy Terminology) An unsecured… … Glossary of Bankruptcy
priority of mortgages — Where there are two or more mortgages secured on a property, the order in which the lenders are entitled to be repaid when the property has to be sold. The priority is a concern where there are insufficient funds to repay all of the lenders in… … Law dictionary
priority debt — A type of debt that is paid first if any creditors are paid in a Chapter 7 bankruptcy case, and must be paid in full in a Chapter 13 bankruptcy case. Priority debts include alimony and child support, wages owed to employees, and fees owed to the… … Law dictionary
priority of claim — Claims of some employees, employee benefit plans, domestic support obligations, taxing bodies, and others may be entitled to payment prior to the claims of general unsecured creditors. Wages owed to employees for the last pay period prior to… … Glossary of Bankruptcy
priority claims — USA Certain unsecured claims which are entitled to be paid in full before general unsecured claims are paid. These include administrative expenses and salaries, unpaid wages, employee benefits, consumer deposits and prepetition taxes. Practical… … Law dictionary
priority need — in housing law, persons who are entitled to local authority housing ahead of others: pregnant women, persons residing with dependent children, emergency cases, those vulnerable from old age, mental illness or disability. Collins dictionary of law … Law dictionary
priority — Used for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be … Financial and business terms
absolute priority rule — n: a rule that provides for the satisfaction in full of claims of senior creditors before any payments can be made to junior creditors under a chapter 11 bankruptcy plan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. absolute… … Law dictionary
Japanese dictionary — Japanese dictionaries have a history that began over 1300 years ago when Japanese Buddhist priests, who wanted to understand Chinese sutras, adapted Chinese character dictionaries. Present day Japanese lexicographers are exploring computerized… … Wikipedia
