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LSDefine

Simple English definitions for legal terms

double creditor

Read a random definition: labor agreement

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

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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
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