§ 27-25-10 Assignment by insolvent debtor
§ 27-25-20 Preferential transactions within ninety days of assignment
§ 27-25-30 Assignment for benefit of creditors; attack by creditor
§ 27-25-40 Assignment for benefit of creditors; appointment of agents by creditors
§ 27-25-50 Sales and transfers prior to appointment of agents
§ 27-25-60 Calling creditors together
§ 27-25-70 Procedure when assignees neglect or refuse to call creditors together
§ 27-25-80 Election of agents
§ 27-25-90 Rights and powers of agents
§ 27-25-100 Effect of neglect or refusal of creditors to appoint agents
§ 27-25-110 Appointment of umpire
§ 27-25-120 Deposit of proceeds of sales
§ 27-25-130 General powers of creditors
§ 27-25-140 Statements of proceedings
§ 27-25-150 Damages for failure to account or follow directions
§ 27-25-160 Commissions allowed

Terms Used In South Carolina Code > Title 27 > Chapter 25 - Assignments for the Benefit of Creditors

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Chambers: A judge's office.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fraud: Intentional deception resulting in injury to another.
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • knowingly: means having general knowledge of the content of the subject material or performance, or failing after reasonable opportunity to exercise reasonable inspection which would have disclosed the character of the material or performance. See South Carolina Code 16-15-305
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • patently offensive: means obviously and clearly disagreeable, objectionable, repugnant, displeasing, distasteful, or obnoxious to contemporary standards of decency and propriety within the community. See South Carolina Code 16-15-305
  • person: means any individual, corporation, partnership, association, firm, club, or other legal or commercial entity. See South Carolina Code 16-15-305
  • prurient interest: means a shameful or morbid interest in nudity, sex, or excretion and is reflective of an arousal of lewd and lascivious desires and thoughts. See South Carolina Code 16-15-305
  • sexual conduct: means :

    (a) vaginal, anal, or oral intercourse, whether actual or simulated, normal or perverted, whether between human beings, animals, or a combination thereof;

    (b) masturbation, excretory functions, or lewd exhibition, actual or simulated, of the genitals, pubic hair, anus, vulva, or female breast nipples including male or female genitals in a state of sexual stimulation or arousal or covered male genitals in a discernably turgid state;

    (c) an act or condition that depicts actual or simulated bestiality, sado-masochistic abuse, meaning flagellation or torture by or upon a person who is nude or clad in undergarments or in a costume which reveals the pubic hair, anus, vulva, genitals, or female breast nipples, or the condition of being fettered, bound, or otherwise physically restrained on the part of the one so clothed;

    (d) an act or condition that depicts actual or simulated touching, caressing, or fondling of, or other similar physical contact with, the covered or exposed genitals, pubic or anal regions, or female breast nipple, whether alone or between humans, animals, or a human and an animal, of the same or opposite sex, in an act of actual or apparent sexual stimulation or gratification; or

    (e) an act or condition that depicts the insertion of any part of a person's body, other than the male sexual organ, or of any object into another person's anus or vagina, except when done as part of a recognized medical procedure. See South Carolina Code 16-15-305
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.