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LSDefine

Simple English definitions for legal terms

prior creditor

Read a random definition: successor agent

A quick definition of prior creditor:

A prior creditor is someone who is owed money by another person or entity. They have a claim that came before any other claims and will be paid first if there is not enough money to pay everyone. For example, if someone owes money to two people and they can only pay one, the prior creditor will be paid first.

A more thorough explanation:

A prior creditor is a person or entity who has a claim against a debtor that predates the order for relief concerning the debtor. This means that they have a higher priority in receiving payment from the debtor's assets compared to other creditors.

For example, if a company goes bankrupt and owes money to multiple creditors, the prior creditor who had a claim before the bankruptcy filing will be paid first from the company's assets before other creditors.

Another example is a mortgage lender who has a lien on a property. If the property owner defaults on the mortgage, the prior creditor (mortgage lender) has the right to foreclose on the property and sell it to recover the debt before any other creditors can make a claim on the property.

prior consistent statement | prior-exclusive-jurisdiction doctrine

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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