To the person first applying. In probate practice, where there are several persons equally entitled to a grant of administration, (e.g., next of kin of the same degree,) the rule of the court is to make the grant priori pctenti, to the first applicant Browne, Prob. Pr. 174; Coote, Prob. Pr. 173, 180. … [Read more...] about PRIORI PETENTI
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PRINCIPAL
This word has several meanings: (A) Criminal Law. Refers to the primary perpetrator of a crime. (B) Legal Documents. A person who appoints their own agent in a document, for example, the person creating a power of attorney document and appoints an attorney-in-fact or agent to manage affairs and take action on behalf of the principal. (C) Commercial Law. The total amount of a … [Read more...] about PRINCIPAL
PRIORITIZATION
The ranking of different items in order of importance. … [Read more...] about PRIORITIZATION
PRINCIPAL CONTRACT
One entered into by both parties, on their own accounts, or in the several qualities they assume. It differs from an accessory contract. Vide Contract. … [Read more...] about PRINCIPAL CONTRACT
PRINCIPAL OBLIGATION
That obligation which arises from the principal object of the engagement which has been contracted between the parties. It differs from an accessory obligation. For example, in the sale of a horse, the principal obligation of the seller is to deliver the horse; the obligation to take care of him till delivered is an accessory engagement. By principal obligation is also … [Read more...] about PRINCIPAL OBLIGATION