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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 council is charged with helping the president determine which requests are most closely aligned with the "College Priorities.
Although this list of health end points is culled from numerous sources with diverse criteria, the categories and end points show a general convergence that can shape priorities for the developing tracking network.
The priorities may have to be redesigned to meet the difficult challenges and then be undertaken with the requisite effort and sacrifices.
The new priorities are foreign competitors, institutional investors, new government regulations, health-care benefits, computer networks, total quality management, new products, new processes, new cost standards.
When anticipating the priorities and the strategies of the several hospitals, the physician executive concludes that hospital A would firmly compete (P1) in the negotiations for an affiliation agreement, hospital B would openly subordinate (S1) because its image could be further enhanced by an affiliation agreement, and hospital C would firmly compete (P1) because it is considering similar agreements with several out-of-town medical schools.
While past superintendents have outlined districtwide goals, school board president Genethia Hayes said she could not remember the district's priorities codified in the manner Romer and the board are now doing.
Energy Priorities was among the first "hybrid" magazines, integrating the best features of a weblog into an online magazine format.
When asked to respond as employees, however, they cited retirement issues as their top priority -- with three out of their top five priorities relating to retirement and investment issues.
This collaboration enables us to offer our customers an application performance solution that truly impacts the bottom line by delivering real-time, business level metrics that are meaningful to both IT operations and line of business managers, ensuring that not only are service level commitments met, but that IT is aligned with the business priorities.
Network managers can use this feature to set and enforce corporate bandwidth usage priorities by group.
Our application priority switch performs real-time prioritization on an application-by-application basis in response to network conditions and pre-established business priorities Enterprises experiencing serious application performance degradation across both IP and frame relay WANs can implement this device to improve accountability, predictability, and control over network services.