senior interest
An interest that takes precedence over others; esp., a debt security or preferred share that has a higher claim on a corporation’s assets and earnings than that of a junior obligation or common share.
Search Results for: debt security
treasury note
Treasury note. An intermediate-term debt security issued by the federal government, with a maturity of two to ten years. • These notes are considered risk-free, but they usu. pay relatively little interest. — Abbr. T-note. [Cases: United States 90. C.J.S. United States §§ 162, 167.]
treasury bond
Treasury bond. A long-term debt security issued by the federal government, with a maturity of 10 to 30 years. • These bonds are considered risk-free, but they usu. pay relatively little interest. — Abbr. T-bond. [Cases: United States 91. C.J.S. United States §§ 164, 167.]
treasury bill
Treasury bill. A short-term debt security issued by the federal government, with a maturity of 13, 26, or 52 weeks. • These bills — auctioned weekly or quarterly — pay interest in the form of the difference between their discounted purchase price and their par value at maturity. — Abbr. T-bill. [Cases: United States 89.
disguised installment sale
Bankruptcy. A debtor’s leasing ploy to try to keep property outside the bankruptcy estate, whereby a lease either presents the lessee-debtor with a bargain purchase option or transfers title to the lessee-debtor at the end of the lease term. • When such a lease is discovered, the property is treated as part of the bankruptcy
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loan broker
A person who is in the business of lending money, usu. to an individual, and taking as security an assignment of wages or a security interest in the debtor’s personal property.
attachiamenta bonorum
attachiamenta bonorum ([schwa]-tach-ee-[schwa]-men-t[schwa] b[schwa]-nor-[schwa]m), n. [Law Latin] Hist. A distress taken on goods and chattels by bailiffs, as security to answer an action for debt.
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redemption
redemption, n. 1. The act or an instance of reclaiming or regaining possession by paying a specific price. [Cases: Secured Transactions 241. C.J.S. Secured Transactions § 184.] 2. Bankruptcy. A debtor’s right to repurchase property from a buyer who obtained the property at a forced sale initiated by a creditor. [Cases: Bankruptcy 3034. C.J.S. Bankruptcy
constitutum possessorium
constitutum possessorium (kon-sti-t[y]oo-t[schwa]m pah-ses-sor-ee-[schwa]m). [Latin “possessory agreement”] Roman law. 1. A type of constructive delivery in which mediate possession is transferred while the immediate control or custody remains in the transferor. 2. The agreement by which this transfer is brought about. • In the context of a security interest, the pledged property may remain in
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statute staple
statute staple. Hist. 1. A 1353 statute establishing procedures for settling disputes among merchants who traded in staple towns. • The statute helped merchants receive swift judgments for debt. Cf. STATUTE MERCHANT. 2. A bond for commercial debt. • A statute staple gave the lender a possessory right in the land of a debtor who