proof of claim

proof of claim definition - business

proof of claim

In law, written proof from a creditor that a debt is owed. For example, a proof of claim, along with supporting evidence, is filed by a creditor in bankruptcy court to demonstrate a claim for the amount owed the creditor by the bankrupt party.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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