Prefer

1.

To bring a matter before a court of justice; as in saying that A preferred a charge of assault against B. 2. To apply; to move for. Thus "to prefer for costs " is a phrase meaning to apply for costs.

3.

To give advantage, priority, or privilege; to select for first payment, as to prefer one creditor over others.

Preference

A priority of payment given by a debtor to one or more creditors, over others, when he cannot pay all in full. Preferences are allowable by the general law of debtor and creditor, but have been forbidden by statute in several of the states; and are contrary to the policy and express provisions of the bankrupt laws. Preference, or preferential shares. New shares in a company, created as a means of raising money, and which have priority over the original shares. Such shares entitle their holders to a preferential dividend; so that a holder of them is entitled to have the whole of his dividend (or so much thereof as represents the extent to which his shares are, fore any dividend is paid to the ordinary shareholders.

Preferential assignment

A conveyance of a debtor's property for benefit of creditors, which directs that one or some shall be paid in full before others receive any thing; an assignment giving preferences. Preferred, or preferential debt. A demand which has priority; which is payable in full before others are paid at all.

Preferred creditor

A creditor or a demand which the debtor has directed shall be paid before others.