Subsequent creditor under recording statute
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 224 U.S. 262 - Holt v. Crucible Steel Company of America · 1912Most cited · 179 citing opinions
On the one hand, the unrecorded lien is upheld as against creditors who cannot be presumed to have given credit upon the faith of the property held in lien. On the other hand, creditors who may be presumed on such faith to have given credit are protected as against the secret lien in the rights which they secure by their diligence in the levy of their execution or attachment.