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priority

n. the right to be first or ahead of the rights or claims of others. In bankruptcy law, the right to collect before other creditors is given to taxing authorities, judgment holders, secured creditors, bankruptcy trustees and attorneys. The right also can apply to mortgages, deeds of trusts or liens given priority in the order they were recorded (in the "race to the courthouse").

priority

noun advantage, antecedence, commanddng position, essential status, exigency, first place, necessity, precedence, preeminence, preference, primacy, prior right, requisiteness, right-of-way, right to precedence, right to preference, seniority, supremacy, urgency, vitalness
Associated concepts: priority of claim, priority of lien, priorrty statute
Foreign phrases: Qui prior est tempore potior est jure.He who is first in time is first in right. P rior tempore potior jure. First in time, superior in right.
See also: consequence, importance, magnitude, materiality, precedence, preferential, prerogative, privilege, significance

PRIORITY. Going before; opposed to posteriority. (q.v.)
     2. He who has the precedency in time has the advantage in right, is the maxim of the law; not that time, considered barely in itself, can make any such difference, but because the whole power over a thing being secured to one person, this bars all others from obtaining a title to it afterwards. 1 Fonb. Eq. 320.
     3. In the payment of debts, the United States are entitled to priority when the debtor is insolvent, or dies and leaves an insolvent estate. The priority was declared to extend to cases in which the insolvent debtor had made a voluntary assignment of all his property, or in which his effects had been attached as an absconding or absent debtor, on which an act of legal bankruptcy had been committed. 1 Kent, Com. 243; 1 Law Intell. 219, 251; and the cases there cited.
     4. Among common creditors, he who has the oldest lien has the preference; it being a maxim both of law and equity, qui prior est tempore, potior est jure. 2 John. Ch. R. 608. Vide Insolvency; and Serg. Const. La*, Index, h.t.

References in periodicals archive ?
The process used at SSCC is based on two core ideas: the collaborative development of and vigilant adherence to the "College Priorities," and the value given to the college council as it manages and oversees the budget process.
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Then, we tell them to match these accomplishments and failures with their priorities and to draw a correlation.
Some clearly identified issues were singled out as priorities from a governmental and advocacy point of view.
Problems and priorities are raised, rated, and acted upon.
The manager should anticipate the substantive and relationship priorities of the other party and the negotiation strategy the other party is likely to select.
Under his five-year strategic plan, reading and writing skills top the list of priorities followed by mathematics, professional development and the need for more classroom space.
Antonovich said through a spokesman that the interchange is one of his top priorities as well.
That came out pretty strong as far as priorities go,'' Superintendent Steve Gocke said.
The goal of Energy Priorities is to help businesses decipher which technologies and practices are realistic and economically viable.
Priority Queuing allows a network administrator to define four priorities of traffic (high, normal, medium, and low) on a given interface and/or protocol.