skiptracing agency
skiptracing agency. A service that locates persons (such as delinquent debtors, missing heirs, witnesses, stockholders, bondholders, etc.) or missing assets (such as bank accounts).
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Search Results for: account debtor
factor
factor, n. 1. An agent or cause that contributes to a particular result ( punishment was a factor in the court’s decision). 2. An agent who is employed to sell property for the principal and who possesses or controls the property; a person who receives and sells goods for a commission (a factor was employed
tally
tally. 1. Hist. A stick cut into two parts and marked with notches to show what was due between a debtor and creditor. “The tally, used as a receipt for money or chattels, was a narrow wooden stick with notches of varying dimensions to represent the amount received. After the notches had been cut, the
bankruptcy remote entity
bankruptcy-remote entity. A business entity formed in a manner designed to minimize the risk of becoming a debtor in a bankruptcy case. • The entity’s organizational charter usu. requires at least one independent director to be appointed, as well as a unanimous vote by the entity’s directors, before a bankruptcy petition may be filed. The
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inventory
inventory, n. 1. A detailed list of assets; esp., an executor’s or administrator’s detailed list of the probate-estate assets (make an inventory of the estate). • The term also sometimes denotes a divorcing spouse’s detailed list of all his or her marital and separate assets and liabilities. — Also termed inventory and appraisement. See PROBATE
ex mora debitoris
ex mora debitoris (eks mor-[schwa] deb-i-tor-is). [Latin] Hist. On account of the debtor’s delay. • The phrase appeared in reference to a basis for charging interest on a debt.
deduction in respect of a decedent
A deduction that accrues to the point of death but is not recognizable on the decedent’s final income-tax return because of the accounting method used, such as an accrued-interest expense of a cash-basis debtor.
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statement of financial affairs
statement of financial affairs. Bankruptcy. A document that an individual or corporate debtor must file to answer questions about its past and present financial status, including any previous bankruptcy, the location of any current accounts, and its recent or current debt. — Also termed statement of affairs. [Cases: Bankruptcy 2321. C.J.S. Bankruptcy § 44.]
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nomen transcripticium
nomen transcripticium (noh-men tran-skrip-tish-ee-[schwa]m). [Latin “entry (in an account) transferred”] Roman law. A creditor’s entry of a money debt into a new account (expensilatio) after closing another account, thereby creating, with the debtor’s permission, a literal contract from an existing obligation, which may or may not have been enforceable. Pl. nomina transcripticia. “The subject will,
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administrative freeze
administrative freeze. Bankruptcy. The refusal by a debtor’s bank to permit withdrawals from the debtor’s bank account after the bank learns that the debtor has filed bankruptcy, usu. because the debtor owes money to the bank in addition to maintaining funds on deposit. [Cases: Bankruptcy 2678. C.J.S. Bankruptcy § 164.]
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