See Also: PREFERENCE(law)
preference(dictionary)
preference(dictionary)
Preference(money)
Preference(finance)
Preference share(finance)
Preference stock(finance)
Tax preference item(finance)
liquidity preference(encyclopedia)
Liquidation Preference(law)

PREFERENCE (law)


PREFERENCE. The paying or securing to one or more of his creditors, by an insolvent debtor, the whole or a part of their claim, to the exclusion of insolvent debtor, the whole or a part of their claim, to the exclusion of the rest. By preference is also meant the right which a creditor has the rest. By preference is also meant the right which a creditor has acquired over others to be paid first out of the assets of his debtor, as, acquired over others to be paid first out of the assets of his debtor, as, when a creditor has obtained a judgment against his debtor which binds the when a creditor has obtained a judgment against his debtor which binds the latter' s land, he has a preference. latter' s land, he has a preference. 2. Voluntary preferences are forbidden by the insolvent laws of some of 2. Voluntary preferences are forbidden by the insolvent laws of some of the states, and are void, when made in a general assignment for the benefit the states, and are void, when made in a general assignment for the benefit of creditors. Vide Insolvent; Priority. of creditors. Vide Insolvent; Priority.





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Paying or securing to one or more creditors, by an insolvent debtor, of all or a part of a claim to the exclusion of other creditors or special advantage given to someone.