Definitions of "preference"
  1. The entitlement to be settled or paid before other debts are discharged
  2. Modification of an insolvent debtor's property rights favoring a creditor to settle a past debt, resulting in the creditor acquiring more than they would have during a bankruptcy settlement
How to use "preference" in a sentence
  1. The landlord established a preference for his property loan by structuring the agreement.
  2. Due to the preference of certain creditors, they received a larger portion of the debtor's assets.
  3. The preference in the debt payment gave some creditors an unfair advantage.

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