| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 3,920,935,324 visitors served. |
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
Priority of Satisfaction of Claims |
0.01 sec. |
|
|
Priority of Satisfaction of Claims
under Soviet law, the legally established order in which payments are made when the debtor does not have sufficient monetary resources to satisfy all the demands of the creditors. Demands are divided into five groups, or orders, and the demands of creditors in each successive group are satisfied after the demands of the preceding group have been fully met. If monetary resources are insufficient to satisfy the demands of a group, payment is made in proportion to the amount awarded to each creditor. The priority of satisfaction of claims against the accounts of enterprises and organizations at credit institutions is determined by USSR law, and the priority of satisfaction of claims during execution of court decisions in civil cases is established by the civil procedural codes of the Union republics. Claims of the first order include alimony, wages, compensation for harm caused by injury or death, and social insurance payments. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
|
| Encyclopedia |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup |
|---|