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Creditor. An individual to whom an obligation is owed because he or she has given something of value in exchange. One who may legally demand and receive money, either through the fulfillment of a contract or due to injury sustained as a result of another's Negligence or intentionally wrongful act.
- Credit Card Dispute, Obtaining Records
Definition of credit card dispute, obtaining records in the...
- Credit Card Dispute, Obtaining Records
A creditor is someone (or an entity) to whom an obligation is owed. Most commonly, the obligation owed is an obligation to pay money for some prior services or to pay off a loan. The person who owes a creditor an obligation is known as a debtor.
The term creditor is frequently used in the financial world, especially in reference to short-term loans, long-term bonds, and mortgage loans. In law, a person who has a money judgment entered in their favor by a court is called a judgment creditor.
Legal definitions serve as the cornerstone of legal interpretation, providing clarity and precision within legal texts, statutes, and regulations. A well-crafted legal definition ensures uniform understanding and application of law, which is critical in the administration of justice.
A creditor is a person or a company that lends money or extends credit to another person or business. If you borrow money to buy a car or take out a loan for a house, the bank or lender is your creditor.
20 lut 2023 · A creditor is an individual or institution that extends credit to another party to borrow money usually by a loan agreement or contract. Creditors such as...
A creditor is called a “ simple contract creditor,” a “specialty creditor,” a “ bond creditor,” or otherwise, according to the nature of the obligation giving rise to the debt. Other compound and descriptive terms. Find the legal definition of CREDITOR from Black's Law Dictionary, 2nd Edition.
