Ranked
/ˈræŋkt/
Definitions
- (adj.) Arranged or assigned in a specific order of precedence or importance, often used in legal contexts to indicate priority or hierarchy.
The ranked list of creditors determines the order in which debts are paid.
Related terms
See also
Commentary
In legal usage, 'ranked' typically functions as a past participle adjective indicating established order or priority, useful in contexts like bankruptcy or claims adjudication.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.