'Priority of debts' definitions:

Definition of 'Priority of debts'

From: GCIDE
  • Priority \Pri*or"i*ty\, n. [Cf. F. priorit['e]. See Prior, a.]
  • 1. The quality or state of being prior or antecedent in time, or of preceding something else; as, priority of application. [1913 Webster]
  • 2. Precedence; superior rank. --Shak. [1913 Webster]
  • Priority of debts, a superior claim to payment, or a claim to payment before others. [1913 Webster]
  • Syn: Antecedence; precedence; pre["e]minence. [1913 Webster]