ILEC
Unit 14: Debtor-creditor
Unit 14: Debtor-creditor
Kartei Details
| Karten | 19 |
|---|---|
| Sprache | English |
| Kategorie | Englisch |
| Stufe | Andere |
| Erstellt / Aktualisiert | 01.12.2011 / 07.12.2011 |
| Weblink |
https://card2brain.ch/cards/ilec13
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| Einbinden |
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debtor
Schuldner
a person, group, or organization that owes money [? creditor].
creditor
Kreditgeber, Geldgeber
a person, bank, or company that you owe money to [? debtor]
lien
A lien is the right to retain the lawful possession of the property of another until the owner fulfills a legal duty to the person holding the property, such as the payment of lawful charges for work done on the property. A mortgage is a common lien. The right of lien generally arises by operation of law. However, in some cases it is created by express contract. There are two kinds of lien such as particular and general.
Liens can be consensual or non-consensual. Consensual liens are imposed by a contract between the creditor and the debtor. Nonconsensual liens arise by statute or by the operation of the common law. Liens are also “perfected” or “unperfected.” Perfected liens are those liens for which a creditor has established a priority right in the encumbered property with respect to third party creditors.
consensual lien
created upon agreement between debtor and creditor.
examples: mortgages and security interests
judicial lien
a result of some sort of judicial proceedings brought by the creditor.
examples: attachement liens, garnishment (Pfändung), judgment liens, execution liens.
statutory liens
created by legislation due to the economic relationsship between the debtor and creditor.
Examples: tax liens, mechanic's liens.
priority
Vorrang, Vorrecht
becomes an issue when the debtor is unable to make payment of his debts when they become due and a group of creditors take action to secure payment on their particular claim.
the law has a system of priorities under which certain creditors are paid before other
priority creditors
creditor who is given priority over other creditors, or has first claim befor others.
attachment
Pfändung, Beschlagnahme
a situation in which part of the money someone earns or money that is owed to them is taken by a court of law and used to pay their debts.
insolvency practitioner
Insolvenzberater
advises insolvent entities about how to deal with their financial difficulties and assists with bankruptcy and liquidation procedures.
PQE
post-qualification experience
NQ
newly qualified
cover letter / covering letter (UK)
Bewerbungsschreiben / Motivationsschreiben
British Englisha letter that you send with documents or a package that gives information about its contents [= cover letter American English]
Send your CV and a covering letter to the address below.
appropriate style
im angemessenen Stil, fomell...
relinquish
abtreten, überlassen, verzichten
to let someone else have your position, power, or rights, especially unwillingly [= give up]:
onerous
beschwerlich, drückend, lästig
work or a responsibility that is onerous is difficult and worrying or makes you tired:
to vest
übertragen
to give someone the official right to do or own something:
to vest
übertragen
to give someone the official right to do or own something:
sequestration
Beschlagnahmung
to take property away from the person it belongs to because they have not paid their debts.
