DUAL-PRIORITIES RULE

dual-priorities rule.The principle that partnership creditors have priority for partnership assets

and  that  individual  creditors  have  priority  for  a  partner’s  personal  assets.  •  This  rule  has  been

abandoned  by  the  bankruptcy  laws  and  the  Revised  Uniform  Partnership  Act.  The  Bankruptcy

Code  now  allows  partnership  creditors  access  to  all  assets  of  bankrupt  partners,  not  just  those

remaining  after  payment to  individual  creditors.  —  Also termed  jingle  rule.  [Cases:  Partnership

178, 186. C.J.S. Partnership §§ 174, 181.] [Blacks Law 8th]