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The arranging or ranking of assets in the due order of administration. Such an arrangement of the different funds under administration as shall enable all the parties having equities therein to receive their due proportions, notwithstanding any intervening interests, liens, or other claims of particular persons to prior satisfaction out of a portion of these funds. The … [Read more...] about MARSHALING ASSETS

The primary body of agreement which sets forth a master or complete set of agreed upon terms and conditions that will apply to all other agreements or work orders that may be agreed to between the parties. This makes it easier for the parties to agree upon procedures and issues that are common and would be associated with each work order or statement of work and dispenses with … [Read more...] about MASTER AGREEMENT

equity. When a party has two funds by which his debt is secured, and another creditor has a claim only on one of these funds, a court of equity will compel the creditor having a double security to resort to that fund which will leave the other creditor his security, this is called marshalling assets. 4 Bouv. Inst. n. 3788; 1 Story, Eq. Jur. 633 Amb. 91; 8 Ves. 389; 9 Ves. 209. … [Read more...] about MARSHALLING SECURITIES

An antiquated term to describe the employer and employee relationship. … [Read more...] about MASTER AND SERVANT

In English law. A prison belonging to the king's bench. It has now been consolidated with others, under the name of the "King's Prison." Marshalsea, court of. The court of the Marshalsea had jurisdiction in actions of debt or torts, the cause of which arose within the verge of the royal court. It was abolished by St. 12 & 13 Vict. c. 101. 4 Steph. Comm. 317, note d. … [Read more...] about MARSHALSEA