Debtor in Possession Financing
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Debtor in possession - A debtor in possession, in the United States bankruptcy law, is a person who is bankrupt, but remains in possession of property upon which a creditor has a lien or similar security interest. Under certain circumstances, the debtor in possession may be able to keep ...
Elegit - ... of Westminster II (1285), and so called from the words of the writ, that the plaintiff has chosen (elegit) this mode of satisfaction. Previously to the Statute of Westminster II, a judgment creditor could only have the profits of lands of a debtor in satisfaction of his judgment, but not the possession of the lands themselves.
Chose in possession - A chose in possession is an item of tangible personal property which is capable of physical possession by the owner and which is capable of transfer by delivery. Possession of a chose in possession is prima facie evidence of ownership.
Constructive possession - Constructive possession is a legal fiction to describe a situation where an individual has actual control over chattels or real property without actually having physical control of the same assets. At law, a person with constructive possession stands in the same legal position as a person with actual possession.
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