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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebReceiver-Creditor RelationDefinitionThe receiver-creditor relation refers to the legal relationship between a receiver and a creditor in financial transactions, where the receiver is appointed to collect and distribute the assets of a debtor for the benefit of the creditor. It can also be defined as the connection and responsibilities that exist between a receiver, who manages the assets of a business entity or an individual, and a creditor, who is owed a debt or financial obligation by the business entity or individual. ExamplesExample Sentence 1:In the receiver-creditor relation, the receiver plays a crucial role in ensuring that the creditor receives their due payments from the debtor's assets. Example Sentence 2:The receiver-creditor relation becomes significant during bankruptcy proceedings, as the receiver is appointed by the court to efficiently handle the asset distribution to the creditors. Possible Related Products | ||||
receivableness receivables receive receive receive credit received received afterwards receiveing receiver-creditor relation receiver receivers receivership receives receives receiveth receiving receiving set
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