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LSDefine

Simple English definitions for legal terms

priority

Read a random definition: hominatio

A quick definition of priority:

Priority: The right to be first in line before others. This means that certain people or organizations have the right to collect money or property before others. For example, in bankruptcy cases, the government, people who won court cases, and those who have secured loans get paid before other creditors. Mortgages, deeds of trust, and liens also have priority based on when they were recorded.

A more thorough explanation:

Definition: The right to be ahead of the rights or claims of others.

In bankruptcy law, certain creditors have priority over others when it comes to collecting debts. These include:

  • Taxing authorities
  • Holders of court judgments
  • Secured creditors
  • Bankruptcy trustees
  • Bankruptcy attorneys

For example, if a business goes bankrupt and owes money to both the IRS and a supplier, the IRS would have priority and be paid first.

Priority can also apply to mortgages, deeds of trusts, or liens. These are given priority in the order they were recorded. For instance, if two people have liens on a property, the one who recorded their lien first would have priority over the second.

Overall, priority means that certain people or entities have the right to be paid or have their claims addressed before others.

Prior(s) | priority date

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JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
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