Legal Definitions - concurso

Definition: Concurso is a legal term that refers to an action taken by a creditor against an insolvent debtor. The term comes from the Latin word "to run hither and thither."

Example: If a person owes money to a creditor but is unable to pay, the creditor may file a concurso to try to recover the debt. The concurso process involves legal action to enforce the claim against the debtor.

Explanation: The example illustrates how a concurso is used in a legal context. When a debtor is unable to pay their debts, a creditor may take legal action to try to recover the money owed. This legal action is known as a concurso. The process involves a court hearing where the creditor presents evidence of the debt and the debtor's inability to pay. If the court finds in favor of the creditor, they may be able to recover some or all of the debt owed.