Search Results for: PROOF OF DEBT

proof of claim

proof of claim. Bankruptcy. A creditor’s written statement that is submitted to show the basis and amount of the creditor’s claim. Pl. proofs of claim.[Cases: Bankruptcy 2891–2904. C.J.S. Bankruptcy §§ 268–279.] informal proof of claim. A proof of claim stating a creditor’s demand for payment and intent to hold the debtor’s bankruptcy estate liable, but

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judgment proof

judgment-proof, adj. (Of an actual or potential judgment debtor) unable to satisfy a judgment for money damages because the person has no property, does not own enough property within the court’s jurisdiction to satisfy the judgment, or claims the benefit of statutorily exempt property. — Also termed execution-proof.

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antapocha

antapocha (ant-ap-[schwa]-k[schwa]). [Latin “counter-receipt”] Roman & civil law. A counterpart to a receipt (i.e., an apocha), signed by the debtor and delivered to the creditor as proof of payment. Cf. APOCHA.

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known creditor

A creditor whose identity or claim is either known or reasonably ascertainable by the debtor. • Known creditors are entitled to notice of the debtor’s bankruptcy or corporate dissolution, as well as notice of any deadline for filing proofs of claim.

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vergens ad inopiam

vergens ad inopiam (v[schwa]r-jenz ad in-oh-pee-[schwa]m), adj. [Latin “verging on poverty”] Civil law. Tending to become insolvent. “When a debtor is clearly vergens ad inopiam, a creditor may legally resort to certain measures, for the purpose of protecting his interests, which would not otherwise be competent to him. Thus if the debtor be bound under

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common count

Hist. In a plaintiff’s pleading in an action for debt, boilerplate language that is not founded on the circumstances of the individual case but is intended to guard against a possible variance and to enable the plaintiff to take advantage of any ground of liability that the proof may disclose. • In the action for

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