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In Scotland this term is used to signify the order in which the debts of a bankrupt ought to be paid. … [Read more...] about RANKING

Such as U.S. Patent law, a law in certain jurisdictions that the first to file (as opposed to invent or perform some other essential process) is the holder of the right. … [Read more...] about RACE STATUTE

In French law. A term including the repairs made to a ship, and a fresh supply of furniture and victuals, munitions, and other provisions required for the voyage. 8 Pard. Droit Commer. f 602. … [Read more...] about RADOUB

Is the Scotch term for the arrangement of the property of a debtor according to the claims of the creditors, in consequence of the nature of their respective securities. Bell. The corresponding process in England is the marshalling of securities in a suit or action for redemption or foreclosure. Paterson. … [Read more...] about RANKING OF CREDITORS

An artificial canal dug in the earth; a channel cut in the ground. Wilder v. De Cou, 26 Minn. 17, 1 N. W. 4& The channel for the current that drives a water-wheel. Webster. … [Read more...] about RACE-WAY