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.