PREFERRED CREDITOR Definition

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PREFERRED CREDITOR is a creditor whose account takes legal preference for payment over the claims of others.

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CONDUIT is a primary means by which something is transmitted,

DISSOLUTION is the act of ending, terminating or winding-up a company or state of affairs. For example, when the life of a company is ended by normal legal means, it is said to be "dissolved". The same is said of marriage or partnerships which, by dissolution, end the legal relationship between those persons formally joined by the marriage or partnership.

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