One who, by settlement upon the public land, or by cultivation of a portion of it has obtained the right to purchase a portion of the land thus settled upon or cultivated, to the exclusion of all other persons. Dillingham v. Fisher, 5 Wis. 480. And see Doe v. Beck, 106 Ala. 71, 19 South. 802. … [Read more...] about PRE-EMPTIONER
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PREEMPTIVE RIGHT
The right of a stockholder to purchase new stock issued by a corporation in the proportion that the stockholder had before the new issuance of stock (to maintain one's percentage of ownership in the entity.) … [Read more...] about PREEMPTIVE RIGHT
PREFECT
In French law. The name given to the public functionary who is charged in chief with the administration of the laws, in each department of the country. The term is also used, in practically the same sense, in Mexico. But in New Mexico, a prefect is a probate judge. … [Read more...] about PREFECT
PREFER
To show favor or preference for someone or something more than others. To bring before; to prosecute; to try; to proceed with. Thus, preferring an indictment signifies prosecuting or trying an indictment. To give advantage, priority, or privilege; to select for first payment as to prefer one creditor over others. … [Read more...] about PREFER
PREFERENCE
(A) A payment that is made by a debtor to a creditor during a period just prior to filing for bankruptcy. It is called a preference because the debtor has decided which of his creditors should receive the balance of his or her assets at the unfair expense of others who will be left with nothing to collect. Usually this period of preference deals with disposition of money or … [Read more...] about PREFERENCE