Creditor’s claim (sometimes referred to as a proof of claim) is a filing with a bankruptcy or probate court to establish a debt owed to that individual or organization. The claim usually gives specific details of the debt, how it came about,...
money and financial problems
creditor's rights
Creditor’s rights can refer to many different aspects of creditor-debtor and creditor-creditor relations including a creditor’s rights to place a lien on a debtor’s property, garnish a debtor’s wages, set aside a fraudulent conveyance, and...
currency
Currency can be defined as a system of money issued by a State on a national territory, used by people in that nation, allowing to carry out monetary exchanges.
Issued by public authorities, currency is a unit of account and...
current asset
Current assets are assets expected to be sold or used in business operations within one year. Examples of current assets are cash, accounts receivable, stock inventory, and other liquid assets.
[Last updated in November of...
damages
In civil cases, damages are the remedy that a party requests the court award in order to try to make the injured party whole. Typically damage awards are in the form of monetary compensation to the harmed party. Damages are imposed if the...
dealer
A dealer has two common definitions in the legal context:
A retailer who purchases goods or services for resale to consumers in a principal capacity. In securities law, a person who functions at least part time as an agent, broker, or...debenture
Debentures refer essentially to unsecured bonds within the United States. Corporations and governments use debentures as long term funding options, usually for major expansions and projects in the case of corporations. Debentures have set...
debt
Debt is a financial liability or obligation owed by one person, the debtor, to another, the creditor.
Debt is mainly composed of two elements: principal and interest. While debt can take many forms, the main variables by...
debt-management plan (DMP)
Debt-management plan (DMP) is a term used in credit counseling to describe an agreement concluded between a debtor, a credit counseling firm and the debtor’s creditors. Under the DMP, the debtor makes a payment to the counseling firm, which...
debtor
A debtor is someone who owes a debt or obligation to someone else. Most commonly, this is the obligation to pay money. A classic example is within the situation where a bank extends a loan to an individual or business entity, creating the...