priority

priority
The attribute or quality of that which is earlier or previous in point of time. Precedence. Of lien:–a superiority of security over other liens either in point of time or as declared by law from considerations of public policy. Of claim:–the right to have one's claim against a decedent's estate satisfied out of estate assets before other claimants are permitted to resort to such assets, 21 Am J1st Ex & Ad §§ 393 et seq; the status of a claim in insolvency proceedings which calls for payment of it before any payment is made on other claims, 29 Am J Rev ed Insolv §§ 46 et seq; in bankruptcy, distribution in order determined by classes of debts of funds not subject to lien in the hands of the trustee in bankruptcy as assets of the estate in bankruptcy. 9 Am 12d Bankr § 528. See preference.

Ballentine's law dictionary. . 1998.

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  • priority — pri·or·i·ty 1 /prī ȯr ə tē/ n pl ties: precedence in exercise of rights in the same subject matter secured interests have priority over unsecured ones priority 2 adj 1: having precedence over another in the exercise of rights in the same subject …   Law dictionary

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  • priority — priority, precedence can both mean the act, the fact, or, especially, the right of preceding another. When the reference is to the right, both terms usually imply an established or accepted code that determines which shall precede the other.… …   New Dictionary of Synonyms

  • priority — The Bankruptcy Code establishes the order in which claims are paid from the bankruptcy estate. All claims in a higher priority must be paid in full before claims with a lower priority receive anything. All claims with the same priority share pro… …   Glossary of Bankruptcy

  • Priority — Pri*or i*ty, n. [Cf. F. priorit[ e]. See {Prior}, a.] 1. The quality or state of being prior or antecedent in time, or of preceding something else; as, priority of application. [1913 Webster] 2. Precedence; superior rank. Shak. [1913 Webster]… …   The Collaborative International Dictionary of English

  • Priority — Priority, est le label d une compagnie de disque indépendante Artistes produits : Homesick James Portail de la musique Ce document provient de « Priority ». Catégorie : Label de musique indépendant …   Wikipédia en Français

  • priority — late 14c., from O.Fr. priorite (14c.), from M.L. prioritatem (nom. prioritas) fact or condition of being prior, from L. prior (see PRIOR (Cf. prior) (adj.)) …   Etymology dictionary

  • priority — [n] first concern antecedence, arrangement, crash project*, greatest importance, lead, order, precedence, preeminence, preference, prerogative, previousness, rank, right of way*, seniority, superiority, supremacy, transcendence; concept727 Ant.… …   New thesaurus

  • priority — ► NOUN (pl. priorities) 1) the condition of being regarded as more important. 2) a thing regarded as more important than others. 3) the right to proceed before other traffic …   English terms dictionary

  • priority — [prī ôr′ə tē, prīär′ə tē] n. pl. priorities [ME priorite < ML prioritas] 1. the fact or condition of being prior; precedence in time, order, importance, etc. 2. a) a right to precedence over others in obtaining, buying, or doing something b)… …   English World dictionary

  • priority — Used for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be …   Financial and business terms

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