Meaning of prior charge in English:
prior charge
noun
FinanceA class of stock or capital on which claims for payment take precedence over the claims of ordinary stock or capital.
‘items to be taken into account as a prior charge on the assets’- ‘She left her home jointly to her daughter, Mrs Wilkinson, and her son Mr Brian Thomas, with a prior charge on the proceeds of sale of the house in favour of her ex-husband Mr Geoffrey Thomas.’
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