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A B C D E F G H I J L M N O P Q R S T U V W Z
DA DE DI
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Damages
Cash compensation awarded by a Court to offset losses or suffering caused by another person's negligence or fault.
Date of the Initial Bankruptcy Event
"In respect of a person, it means the earliest of the date of filing or making: an assignment into bankruptcy; a proposal; a Notice of Intention to Make a Proposal; the first petition More…
De Facto
"In fact, rather than in law; e.g. de facto trustee. "
De Jure
According to law.
Debenture
"Security instrument evidencing a debt due from one party to another, payable on demand or otherwise, which can be a fixed and/or floating charge on assets and which can grant the More…
DEBTOR
Party against whom an order for the payment or recovery of money may be enforced.
Debtor
"A person who owes money, goods or services to another. "
Decree Absolute
"The name given to the final and conclusive Court Order after the condition of a ""decree nisi"" is met. "
Decree Nisi
A provisional decision of the Court that does not have absolute effect until certain conditions are met.
Deemed Trust
"A trust that is established by statute to be in effect even though there may not be any actual asset or monies held in that trust. For example, Revenue Canada in a bankruptcy or More…
Default
Failure to pay or otherwise perform obligations under a contract.
DEFAULT JUDGMENT
"A document signed by a clerk for relief claimed against a defendant who has not (1) replied to a claim, (2) disputed a claim, or who has (3) failed to maintain offered payments." More…
DEFENCE
"A dispute or reply to the claim (in Small Claims Court, it may also mean a request for time to pay the debt)."
DEFENCE FORM
The form used by the party who is being sued to dispute or reply to a claim.
DEFENDANT
Party who is being sued (the one the claim is made against).
Defer
To delay to a future time.
Demand
To ask for with authority; claim as a right.
Demand Letter
"A letter usually from a lawyer on behalf of a client that makes a demand for payment or some other action which is in default. Under the Bankruptcy and Insolvency Act, a financial More…
Directive
Subsection 5(4) of the Act empowers the Superintendent to issue directives. Every person to whom a directive is issued must comply with the directive. Directives may be issued concerning: More…
Disallowance
"To refuse or to set aside. For example, the Trustee in Bankruptcy, under the Bankruptcy and Insolvency Act, can disallow a claim submitted by a creditor. "
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