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A judge is a law student who marks his own examination papers.
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Legal Definitions - proof of claim
You win some, you lose some, and some you just bill by the hour.
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Definition of proof of claim
Proof of claim is a written statement submitted by a creditor in a bankruptcy case to show the basis and amount of their claim.
For example, if a person owes money to a credit card company and files for bankruptcy, the credit card company can submit a proof of claim to the bankruptcy court to show how much money the person owes them.
Pl. proofs of claim.
- A hospital submits a proof of claim to a bankruptcy court to show how much money a patient owes for medical treatment.
- A landlord submits a proof of claim to a bankruptcy court to show how much rent a tenant owes.
- A supplier submits a proof of claim to a bankruptcy court to show how much money a business owes for goods or services.
These examples illustrate how different types of creditors can submit a proof of claim to a bankruptcy court to show the amount of money they are owed.
Justice is truth in action.
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Simple Definition
Proof of claim: When someone owes you money and they file for bankruptcy, you can submit a written statement to show how much they owe you and why. This is called a proof of claim. It helps the court decide how much money the person owes to all their creditors.
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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