preference

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Transfer of property occurring within 90 days of a borrower's filing of a bankruptcy petition. A preference may be through a lien or security interest, or transfer of property to a creditor. An unsecured loan paid off within 90 days of bankruptcy also may be declared a preference. Bankruptcy trustees have the power to void preferences that impair the Position of general creditors, or that undermine the stability of a business through transfer of an obligation. See also Set-Off Clause; Voidable Preference.

noun

1. The act of choosing: choice, election, option, selection. See choice.
2. Favorable or preferential bias: favor, favoritism, partiality, partialness. See fair/unfair.
3. A liking for something: appetite, fondness, partiality, relish, taste, weakness. See like/dislike.

n

Definition: favorable treatment
Antonyms: disfavor, equality, rejection

n

Definition: first choice
Antonyms: dislike, hate, hatred, last choice, rejection

In the ordinary dictionary sense of ‘liking or estimation of one thing before or above another’, the concept of preference is important in positivist social science. Economists regard behaviour as ‘revealed preference’ and usually regard a person's preferences as identical to her choices. Political scientists and sociologists are more cautious, especially when what people say differs from what they do.

This entry contains information applicable to United States law only.

The act of an insolvent debtor who pays one or more creditors the full amount of their claims or a larger amount than they would be entitled to receive on a pro rata distribution.

For example, a debtor owes three creditors five thousand dollars each. All three are equally entitled to payment, but the debtor has only twelve thousand dollars in assets. Instead of paying each creditor four thousand dollars, the debtor pays two creditors in full and pays the third creditor the remaining two thousand dollars.

The common law does not condemn a preference. Some state statutes prescribe that certain transfers are void — of no legal force or binding effect — because of their preferential character. If a state antipreference provision protects any actual creditor of the debtor, the trustee in bankruptcy can take advantage of it.

Bankruptcy law does condemn certain preferences. The bankruptcy trustee can void any transfer of property of the debtor if the trustee can establish the following: [nl]1.

The transfer was "to or for the benefit of a creditor."

2.

The transfer was made for or on account of an "antecedent debt" — that is, a debt owed prior to the time of the transfer.

3.

The debtor was insolvent at the time of the transfer.

4.

The transfer was made within ninety days before the date of the filing of the bankruptcy petition or was made between ninety days and one year before the date of the filing of the petition to an insider who had reasonable cause to believe that the debtor was insolvent at the time of the transfer.

5.

The transfer has the effect of increasing the amount that the transferee would receive in a liquidation proceeding under chapter 7 of the bankruptcy law (11 U.S.C.A. § 701 et seq.).

11 U.S.C.A. § 547.

Other statutory provisions, however, create exceptions; if a transfer comes within an exception, the bankruptcy trustee cannot invalidate the transfer even though the aforementioned five elements exist.

See: insolvency.

A cynical view of the world by Ambrose Bierce

n.

A sentiment, or frame of mind, induced by the erroneous belief that one thing is better than another.

An ancient philosopher, expounding his conviction that life is no better than death, was asked by a disciple why, then, he did not die. "Because," he replied, "death is no better than life."

It is longer.

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IN BRIEF: Favor shown to one over another.

It's not a single idea, but many ideas and attitudes, including a reverence for nature and a preference for country life. — Unknown

LearnThatWord.com is a free vocabulary and spelling program where you only pay for results!

For a list of words related to preference, see:

• Approval, Respect, and Recognition - preference: special choice; favorable view

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See words rhyming with "preference."

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

Dansk (Danish)
n. - forkærlighed, den eller det foretrukne, fortrinsrettighed, begunstigelse

idioms:

• give preference to    sætte højere end
• in preference to    fremfor
• preference shares    præferenceaktier

Nederlands (Dutch)
voorkeur, voorliefde, keuzemogelijkheid, voordeel

Français (French)
n. - préférence

idioms:

• give preference to    donner la préférence à
• in preference to    de préférence à
• preference shares    (GB, Fin) actions privilégiées

Deutsch (German)
n. - Präferenz, Vorliebe

idioms:

• give preference to    bevorzugen
• in preference to    lieber als
• preference shares    Vorzugsaktien

Ελληνική (Greek)
n. - προτίμηση, επιλογή

idioms:

• give preference to    κρίνω προτιμότερο τον..
• in preference to    κατά προτίμηση έναντι
• preference shares    προνομιούχες μετοχές

Italiano (Italian)
preferenza, predilezione, precedenza

idioms:

• give preference to    fare delle preferenze per, avere una preferenza per, essere parziale verso
• in preference to    piuttosto che
• preference shares    azioni privilegiate

Português (Portuguese)
n. - preferência (f), prioridade (f)

idioms:

• give preference to    dar preferência a
• in preference to    em preferência a
• preference shares    ações preferenciais

Русский (Russian)
предпочтение

idioms:

• give preference to    отдавать предпочтение
• in preference to    отдать предпочтение (чему-либо) перед
• preference shares    привилегированные акции

Español (Spanish)
n. - preferencia, prioridad

idioms:

• give preference to    dar preferencia a
• in preference to    preferentemente a
• preference shares    acciones preferidas

Svenska (Swedish)
n. - förkärlek, preferens, företräde

中文（简体）(Chinese (Simplified))
偏爱, 优先选择

idioms:

• give preference to    优先选择...
• in preference to    优先于, 比...优先
• preference shares    优先股

中文（繁體）(Chinese (Traditional))
n. - 偏愛, 優先選擇

idioms:

• give preference to    優先選擇...
• in preference to    優先於, 比...優先
• preference shares    優先股

한국어 (Korean)
n. - 더 좋아함, 좋아하는 물질

idioms:

• give preference to    ~을 좋아하다
• in preference to    ~에 우선하여

日本語 (Japanese)
n. - 好み, 選択, 他より好むこと, 好みのもの, 優先, 優先権, ひいき, 特恵

idioms:

• in preference to    優先して, …よりはむしろ
• preference shares    優先株

العربيه (Arabic)
‏(الاسم) تفضيل, أولويه, المفضل, خيار, حق الاختيار‏

עברית (Hebrew)
n. - ‮העדפה, חיבה מיוחדת, נטייה, דבר מועדף, מתן עדיפות‬

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