Law Dictionary Definitions

receivership estate.The totality of the interests that the receivers of an association in one or more states are appointed to protect. [Blacks Law 8th]

receivership. 1. The state or condition of being in the control of a receiver. [Cases: Corporations 552, 621(.5); Receivers 1. C.J.S. Corporations § 756; Receivers§§ 1–3.] 2. The position or function of being a receiver appointed by a court or under a statute. 3. A proceeding in which a court appoints a receiver. ancillary receivership.A…

receiver’s certificate.Bankruptcy. An instrument issued by a receiver as evidence that the holder is entitled to receive payment from funds controlled by the bankruptcy court. [Blacks Law 8th]

receiver general.A public official in charge of a government’s receipts and treasury. Pl. receivers general. [Blacks Law 8th]

receiver. 1. A disinterested person appointed by a court, or by a corporation or other person, for the protection or collection of property that is the subject of diverse claims (for example, because it belongs to a bankrupt or is otherwise being litigated). Cf. LIQUIDATOR. [Cases: Corporations 552, 621(.5); Receivers 1, 81. C.J.S. Corporations §…

receivable,adj.1. Capable of being admitted or accepted <receivable evidence>.2. Awaiting receipt of payment <accounts receivable>.3. Subject to a call for payment <a note receivable>. receivable,n. An amount owed, esp. by a business’s customer. See account receivable under ACCOUNT. unrealized receivable.An amount earned but not yet received. • Unrealized receivables have no income-tax basis for cash-basis…

receiptor (ri-see-t<<schwa>>r). A person who receives from a sheriff another’s property seized in garnishment and agrees to return the property upon demand or execution. [Cases: Execution 150. C.J.S. Executions §§ 130–131.] [Blacks Law 8th]

receipt clause.In a conveyancing document, a clause that acts as a receipt for the consideration given. • This clause typically appears to avoid the necessity of a separate receipt. [Blacks Law 8th]

receipt,n.1. The act of receiving something <my receipt of the document was delayed by two days>.2. A written acknowledgment that something has been received <keep the receipt for the gift>. accountable receipt.A receipt in which a person admits that goods or money were delivered to the person and that the person is obliged to deliver…

receding market.See bear market under MARKET. [Blacks Law 8th]