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preference of creditors

Defined in 1 dictionary — Case Law

Definitions from Case Law

From 24 U.S. 78 - Brooks v. Marbury · 1826Most cited · 74 citing opinions

The right of a debtor to prefer particular creditors, where no bankrupt or other law prohibiting such preference exists, is not questioned. Yet, such preference defeats all other creditors, whether they amount to a majority in number and value or not. The Court ought not to have left it to the jury to defeat this right, because they might think it unjust.