Dictionary of Law
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Founded: 108
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
postdated check :: n. a check delivered now with a written date in th ... livery of a bad check was criminal.
payee :: n. the one named on a check or promissory note to ... promissory note to receive payment.
maker :: n. 1) the person who signs a check or promissory n ... : check payee payor promissory note
note :: n. a promissory note, a written statement of debt ... the note. See also: promissory note
demand note :: n. a promissory note which is payable any time the ... allments. See also: promissory note
check :: n. a draft upon a particular account in a bank, in ... rtified check negotiable instrument
cashier's check :: n. a check issued by a bank on its own account for ... ansfers, tax payments and the like.
payor :: (payer) n. the party who must make payment on a pr ... make payment on a promissory note.
treasury note :: n. a promissory note issued by the U.S. Treasury, ... e also: treasury bill treasury bond
negotiable instrument :: n. check, promissory note, bill of exchange, secur ... bearer paper bill of exchange check
negotiation :: n. 1) the transfer of a check, promissory note, bi ... te. See also: negotiable instrument
protest :: 1) v. to complain in some public way about any act ... dishonored (not paid by the bank).
bearer :: n. anyone holding something, such as a check, prom ... bearer paper negotiable instrument
payable on demand :: adj. a debt on a promissory note or bill of exchan ... e (party to whom the debt is owed).
holder in due course :: n. one holding a check or promissory note, receive ... note. See also: bona fide purchaser
promissory estoppel :: n. a false statement treated as a promise by a cou ... lue of his work. See also: estoppel
headnote :: n. the summary of the key legal points determined ... not the court's. See also: reports
make :: v. 1) to create something. 2) to sign a check, pro ... xchange check maker promissory note
comaker :: n. when two or more people sign a check or a promi ... amount to be paid. See also: maker
certified check :: n. a check issued by a bank which certifies that t ... "clears." See also: cashier's check
bill of exchange :: n. a writing by a party (maker or drawer) ordering ... awn on a bank account is a "check."
dishonor :: v. to refuse to pay the face amount of a check or ... he amount due on a promissory note.
cut a check :: v. to write (prepare) and sign a check. ... o write (prepare) and sign a check.
holder :: n. a general term for anyone in possession of prop ... older in due course promissory note
obligee :: (ah-bluh-jee) n. the person or entity to whom an o ... ne to be paid on a promissory note.
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
joint :: adj., adv. referring to property, rights or obliga ... ncy joint venture tenancy in common
face amount :: n. the original amount due on a promissory note or ... rein, without calculating interest.
obligor :: (ah-bluh-gore) n. the person or entity who owes an ... who must pay on a promissory note.
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
maturity :: n. 1) the date when the payment of the principal a ... exchange legal age promissory note
liability :: n. one of the most significant words in the field ... bility joint tortfeasors negligence
joint and several :: adj. referring to a debt or a judgment for neglige ... ution contributory negligence joint
on demand :: adj. in a promissory note, a requirement that the ... demand note." See also: demand note
for value received :: prep. a phrase used in a promissory note, a bill o ... hout stating what that payment was.
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust
subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage
several liability :: n. referring to responsibility of one party for th ... n joint and several promissory note
sum certain :: n. a specific amount stated in a contract or negot ... r redecoration of Williams' house."
treasury bill :: n. a promissory note issued in multiples of $10,00 ... e also: treasury bond treasury note
waiver :: n. the intentional and voluntary giving up of some ... ssed on the record. See also: waive
venue :: n. 1) the proper or most convenient location for t ... ion. See also: forum non conveniens
retire :: v. 1) to stop working at one's occupation. 2) to p ... y instructions have been completed.
renewal :: n. keeping an existing arrangement in force for an ... ction which evidences the new term.
payment in due course :: n. the giving of funds to the holder of a promisso ... nds. See also: holder in due course
participate :: v. to invest and then receive a part or share, as ... he estate of a person who has died.
penalty :: n. 1) in criminal law, a money fine or forfeiture ... contractor fails to complete a job.
presentment :: n. 1) making a demand for payment of a promissory ... ee also: Grand Jury promissory note
extinguishment :: n. the cancellation or destruction of a right, qui ... urther money or performance is due.
prevailing party :: n. the winner in a lawsuit. Many contracts, leases ... ed before or after trial has begun.
on or before :: prep. a phrase usually found in a contract or prom ... ich may be done prior to that date.
escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent
amortization :: n. a periodic payment plan to pay a debt in which ... payment. See also: promissory note
assign :: 1) v. to transfer to another person any asset such ... en shows up in contracts and wills.
assume :: v. to take over the liability for a debt on a prom ... he assumption. See also: assumption
acceleration clause :: n. a provision in a contract or promissory note th ... . See also: acceleration assumption
acceleration :: n. 1) speeding up the time when there is vesting ( ... See also: acceleration clause vest
endorsement :: (indorsement)n. 1) the act of the owner or payee s ... te. See also: negotiable instrument
payment in full :: n. the giving of all funds due to another. This la ... ee accepts the payment as complete.
restrictive endorsement :: n. an endorsement signed on the back of a check, n ... indorsement." See also: endorsement
balance due :: n. the amount of a debt still owed on an account o ... cipal due without further interest.
arrears :: n. money not paid when due, usually the sum of a s ... imes these are called "arrearages."
BFP :: n. slang for bona fide purchaser, which means some ... ner). See also: bona fide purchaser
cosign :: v. to sign a promissory note or other obligation i ... share liability for the obligation.
court costs :: n. fees for expenses that the courts pass on to at ... ee also: cost bill prevailing party
discount :: n. the payment of less than the full amount due on ... now-the difference is the discount.
compound interest :: n. payment of interest upon principal and previous ... See also: interest promissory note
bona fide purchaser :: n. commonly called BFP in legal and banking circle ... See also: BFP holder in due course
cancel :: v. to cross out, annul, destroy, void and/or resci ... g, so that it cannot be used again.
cap :: n. slang for maximum, as the most interest that ca ... "adjustable rate" promissory note.
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
bill :: n. 1) what is commonly called a "check" by which t ... ions, which is falling into disuse.
file :: 1) v. to deposit with the clerk of the court a wri ... rrespondence and notes on the case.
default judgment :: n. if a defendant in a lawsuit fails to respond to ... See also: complaint default summons
heir :: n. one who acquires property upon the death of ano ... y pretermitted heir succession will
caveat emptor :: (kah-vee-ott emptor) Latin for "let the buyer bewa ... See also: consumer protection laws
demand :: 1) v. to claim as a need, requirement or entitleme ... pay is made. See also: demand note
docket :: 1) n. the cases on a court calendar. 2) n. brief n ... r or make notes on action in court.
treasury bond :: n. a long-term bond issued by the U.S. Treasury. S ... e also: treasury bill treasury note
shield laws :: n. statutes enacted in some states which declare t ... See also: privileged communication
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
work product :: n. the writings, notes, memoranda, reports on conv ... ies to be employed by the attorney.
renunciation :: n. 1) giving up a right, such as a right of inheri ... renunciation is factually too late.
physician-patient privilege :: n. the right and obligation of a physician to refu ... onfidential communication privilege
last clear chance :: n. a rule of law in determining responsibility for ... contributory negligence negligence
memorandum :: n. 1) a brief writing, note, summary or outline. 2 ... r "The decision below is affirmed."
heiress :: n. feminine heir, often used to denote a woman who ... in the "department store heiress."
drawee :: n. the party who is to be paid on a bill of exchan ... r check. See also: bill of exchange
power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction.
paper hanger :: n. slang for a person who criminally writes and ca ... ey in them. See also: forgery fraud
endorse (indorse) :: v. 1) to sign one's name to the back of a check, b ... or candidate. See also: endorsement
prima facie :: : (pry-mah fay-shah) adj. Latin for "at first look ... t" case. See also: prima facie case
recourse :: n. the right to demand payment to the writer of a ... e. See also: bill of exchange check
withdrawal :: n. 1) in criminal law, leaving a conspiracy to com ... count. See also: check renunciation
treble damages :: n. tripling damages allowed by state statute in ce ... damage penalties. See also: damages
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
draw :: v. 1) to prepare any document. 2) specifically to ... signed a bill of exchange or check.
advance :: n. a payment which is made before it is legally du ... uthor, or a note is due to be paid.
attorney's work product :: n. written materials, charts, notes of conversatio ... ivileged communication work product
audit :: n. an examination by a trained accountant of the f ... rmation provided. See also: auditor
accommodation :: n. 1) a favor done without compensation (pay or co ... ke a deal work. See also: guarantor
blank endorsement :: n. endorsement of a check or other negotiable pape ... id. See also: negotiable instrument
draft :: 1) n. a bill of exchange or check in which one par ... s. See also: bill of exchange check
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy