Legal-Explanations.com - Legal resources in plain English
Legal-Explanations.com Home > Legal Definitions
 

Pro Rata

Latin word meaning Proportionate. It means the division of assets or amount in terms of certain rates, percentage or share in proportion of ownership. Say for instance, if a debtor goes bankrupt, each creditor is entitled to the remainings of the assets of the debtors, proportionately divided according to their debts.

 
Legal-Explanations.com Home
About us | Contact us | Privacy | Terms of service

2004 - 2007 Legal-Explanations.com. All rights reserved