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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
PA PE PL PO PP PR
selected terms: 31 page 1 of 2
Pari Passu
"Equally and without preference. This term is often used in bankruptcy proceedings where creditors are said to be paid pari passu, or each creditor is paid pro rata in accordance with More…
PARTY
"Any individual, corporation, unincorporated organization, sole proprietorship or partnership named as a plaintiff or a defendant in a Small Claims Court action."
PE Ratio
An equation which gives you a very rough estimate as to how much confidence there is in a company's shares (the higher it is the more confidence). The equation is: current share price More…
Perfection
An action that has to be taken before a security interest is secured.
Personal Property
"Property that is not real property; things moveable, also known as chattels. Personal property encompasses all things subject to ownership that are not interests in land. The Personal More…
Personal Property Security Act (PPSA)
Canadian (Provincial) legislation modelled after Article 9 of the United States Uniform Commercial Code (UCC) which codifies and reforms the law of secured credit transactions.
Petition (Application for a Bankruptcy Order)
"The application made under the Bankruptcy and Insolvency Act for the Court to hand down a Receiving Order (Bankruptcy Order) stating the person is in bankruptcy. In an amendment dated More…
PLAINTIFF
"The person who brings a claim against another person, company or organization."
Plaintiff
"A person who initiates a case in Court. That person may also be referred to as the Claimant, Petitioner or Applicant. The person who is being sued is generally called the Defendant More…
Possession Date
"That time that is mutually agreed that the person buying property will take ownership, control or possession of it. "
Possessory Lien
"Charge for an unpaid debt, enforced by having physical custody of the asset to which the lien applies. "
Post
"To affix a notice to a post, wall or the like; to supply or put up; e.g., post a bond."
Postponement
To place after in order of importance; to put off to a later time.
Power of Attorney
An instrument authorizing another to act as one's agent or attorney.
Power of Sale
The right to sell land when a mortgage is in default.
PPSA -Personal Property Security Act
"The system in most common-law provinces, whereby a person or business is required to register any interest that he has in the property of another before the security is valid. The More…
Praecipe
An original writ commanding the defendant to do the thing required; also an order addressed to the Clerk of the Court requesting him to issue a particular writ.
PRE-TRIAL CONFERENCE
"An informal hearing held before a judge or designated court official, to attempt to settle the dispute before the actual trial."
Preference or Preferred Creditors
"Those creditors, in the Bankruptcy and Insolvency Act specified in Section 136, that rank ahead of ordinary or unsecured creditors. Some preferred creditors are employees for wages, More…
Preliminary Report
"Report presented by the trustee at the first meeting of creditors which details trustee's finding with regard to taking possession of the debtor's records and property; More…
Cred-O-Pedia Glossary of Credit Learning
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