Legal Definitions - primo venienti

PRIMO VENIENTI

Primo venienti is a Latin term that means "to the one first coming." It refers to the practice of estate executors paying off debts as they are presented, without considering whether the estate has enough assets to pay all the debts.

For example, if an estate executor receives a bill from a creditor, they would pay it immediately, even if it meant that there would not be enough money left to pay other debts. This practice was common in the past, but it is no longer used today.

Another example could be if an estate executor receives multiple bills from different creditors, they would pay the first creditor who presented their bill, regardless of the amount owed or the priority of the debt.

The examples illustrate how the term "primo venienti" was used in the past to describe the practice of paying off debts as they were presented, without considering the overall financial situation of the estate. This practice could lead to some creditors being paid in full while others received nothing, which is unfair and inefficient. Today, estate executors are required to follow specific rules and procedures to ensure that all debts are paid fairly and equitably.