Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

double creditor

Read a random definition: lease option

A quick definition of double creditor:

A double creditor is someone who is owed money by another person or entity and has a claim on two different funds. This means that they have the right to be paid from two different sources. For example, if someone owes money to two different banks, both banks could be considered double creditors because they each have a claim on the debtor's assets. Double creditors are different from single creditors, who only have a claim on one fund.

A more thorough explanation:

A double creditor is a creditor who has a lien on two funds. This means that they have a claim on two different sources of money or property that a debtor owes. For example, if a person owes money to two different banks and both banks have a lien on the same property, they are both double creditors.

Double creditors are different from single creditors, who only have a lien on one fund. An example of a single creditor would be a bank that has a lien on a person's car as collateral for a loan.

Understanding the difference between single and double creditors is important in situations where a debtor is unable to pay their debts. In such cases, the creditors may have to compete with each other to recover their money or property. Double creditors have an advantage over single creditors because they have a claim on two funds, which increases their chances of recovering their debt.

double complaint | double criminality

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.