Close X

Priority

Priority

  • Term

    Main definition

  • Priority

    The status of one creditor or security holder having a claim or right (e.g., as to dividends or distributions in liquidation) that is superior to the claims or rights of another creditor or security holder. The superior claim or right is referred to as senior, and the other claim or right is referred to as Junior or, in the case of debt, subordinated.

Contact us Today

The Nick Yocca Law Firm is committed to answering your questions about business law and corporate compliance matters in Orange County.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.