Creditor

Section 77(b) defines 'creditors' as 'all holders of claims of whatever character against the debtor or its property' and specifically defines 'liens' as 'claims.

+ 4 more definitions — see all 12 over time

A person to whom a debt is owing by another person. 43 111. App. 426. He who has a right to require the fulfillment of an obligation or contract. 122 111. 404; 80 IlL App. 219. One to whom a sum of money is due for any cause. 80 111. 219.

He who has a right to require the fulfillment of an obligation or contract. A person to whom any obligation is due. New Jersey Ins. Co. v. Meeker, 37 N. J. L. 300. See Pettibone v. Roberts, 2 Root (Conn.) 261. Preferred creditors are those who, in consequence of some provision of law, are entitled to some special privilege in the order in which their claims are to be paid.

A person to whom a debt is owing by another person, Called the "debtor." Mohr v. Elevator Co., 40 Minn. 348, 41 N. W. 1074; Woolverton v. Taylor Co., 43 III. App. 424; Insurance Co. v. Meeker, 37 N. J. Law, 300; Walsh v. Miller, 51 Ohio St 462, 38 N. E. 381. The foregoing is the strict legui sense of the term; but in a wider sense it means , one who has a legal right to demand and recover from another a sum of money on any account whatever, and hence may include the owner of any right of action against another, whether arising on contract or for a tort, a penalty, or a forfeiture. Keith v. Hiner, 63 Ark. 244, 38 S. W. 13; Bongard v. Block, 81 III. 186, 25 Am. Rep. 276; Chalmers v. Sheehy, 132 Cal. 459, 64 Pac. 709, 84 Am. St Rep. 62; Pierstoff v. Jorges, 86 Wis. 128, 56 N. W. 735, 39 Am. St. Rep. 881. Classification. A creditor is calied a "simple contract creditor," a "specialty creditor," a "bond creditor," or otherwise, according to the nature of the obligation giving rise to the debt Other compound and descriptive terms.

— Attaching creditor. One who has caused an attachment to be issued and levied on property of his debtor.

— Catholic creditor. In Scotch law, one whose debt is secured on ali or on several distinct parts of the debtor's property. The contrasted term (designating one who is not so secured) is "secondary creditor."

— Certificate creditor. A creditor of a municipal corporation who receives a certificate of indebtedness for the amount of his claim, there being no funds on hand to pay him. Johnson v. New Orleans, 46 La. Ann. 714, 15 South. 100.

— Confidential creditor. A term some-, times applied to creditors of a failing debtor who furnished him with the means of obtaining credit to which his real circumstances did not entitle him, thus involving loss to other creditors not in his confidence. Gay v. Strickland, 112 Ala. 567, 20 South. 921,

— Creditor at large. One who has not established his debt by the recovery of a judgment or has not otherwise secured a lien on any of the debtor's property. U. S. v. Ingate (C. C.) 48 Fed. 254; Wolcott v. Ash-enfelter, 5 N. M. 442, 23 Pac. 780, 8 L. R. A. 691.

— Domestic creditor. One who resides in the same state or country in which the debtor has his domicile or his property.

— Execution creditor. One who, having recovered a judgment against the debtor for his debt or claim, has also caused an execution to be issued thereon.

— Foreign creditor. One who resides in a state or country foreign to that where the debtor has his domicile or his property.

— General creditor. A creditor at large (supra), or one who has no lien or security for the payment of his debt or claim. King v. Fraser, 23 S. C. 543, Wolcott v. Ashenfelter, 5 N. M. 442, 23 Pac. 7SO, 8 L R A. 691,

— Joint creditors. Persons jointly entitled to require satisfaction of the same debt or demand.

— Judgment creditor. One who has obtained a judgment against his debtor, under which he can enforce execution. King v. Fraser, 23 S. C. 548; Baxter v. Moses, 77 Me. 465, 1 Atl. 350, 52 Am. Rep. 783; Code Civ. Proc. N. Y. 1899, § 3343

— Junior creditor. One whose claim or demand accrued at a date Later than that of a claim or demand held by another creditor, who is called correlatively the "senior" creditor.

— Lien creditor. See Lien.

— Preferred creditor. See Preferred.

— Principal creditor. One whose claim or demand very greatly exceeds the claims of all other creditors in amount is sometimes so called. See In re Sullivan's Estate, 25 Wash. 430, 65 Pac. 793.

— Secnred creditor. See Secured.

— Subsequent creditor. One whose claim or demand accrued or came into existence after a given fact or transaction, such as the recording of a deed or mortgage or the execution of a voluntary conveyance McGhee v. Wells, 57 S. C. 280. 35 S. E. 529, 76 Am. St. Rep. 507; Evans v. Lewis, 30 Ohio St. 14,

— Warrant creditor. A creditor of a municipal corporation to whom is given a municipal warrant for the amount of his claim, because there are no funds in hand to pay it. Johnson v. New Orleans, 46 La. Ann. 714, 15 South. 100.

One who gives or has given credit to another; one to whom a debt is due.

JUDGMENT. One who has obtained a judgment against his debtor, under which he can enforce execution.

Lat. & Eng. [from credere, to trust.] One who gives or has given cred^it to anotner; one who trusts another; one to whom a debt is due.* In a larger sense, one to whom any oblifation is due. Credit orum appellatione non i tantum accipiuntur qui pecuniam crediderunt, sed omnes quibus ex qualibet caiisd debetur. Dig. 50. 16. 11.

persons, contracts. A creditor is he who has a right to require the fulfilment of an obligation or contract. Creditors may be divided into personal and real. The former are so called, because their claims are mainly against the person, and who afiect the property of their debtors only by virtue of the general rul2 by which he who has become personally obligated, 1s bound to fulfil his engagements, with all his property, acquired and to be acquired, which ig a common guaranty for all his creditors. The latter are called real, because they have mortgages or other securities binding on the real estates of their debtors. It is proper to state that personal creditors may be divided in two classes: first, those who have a right on all the property of their debtors, without considering the origin, or the nature of their claims; secondly, those who, in consequence of some provision of law, are entitled to some special prerogative, either in the manner of recovery, or in the rank they are to hold among creditors; these are entitled to preference. As an example, may be mentioned the case of the United States, when they are creditors, they have always a preference in case of insolvent estates.: A creditor sometimes becomes so, unknown to his debtor, as is the case when the former receives an assignment of commercial paper, the title to recover which may be conveyed either by endorsement, or, in some cases, by mere delivery. But in general, it is essential there should be a privity of contract between the parties. Vide, generally,.7 Vin. Ab. 42; 3 Com. Dig. 343; 8 Com.