Catholic Creditor

Legal Definition and Related Resources of Catholic creditor

Meaning of Catholic creditor

In Scotch law. A creditor whose debt is secured on several parts or all of his debtor’s property. Such a creditor is bound to take his payment with reference to the rights of the secondary creditors, or, if he disregards their rights, must assign over to them his claims. This rule applies where he collects his debts of a cautioner (surety). Bell, Diet.

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This definition of Catholic Creditor is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

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