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Most Popular Legal Definitions
intellectual property
As a type of property, intellectual property has the unique characteristic of
being ethereal, of the mind, as opposed to real property, which is tangible.
adjudication
1. the act of giving a judicial ruling such as a judgment or decree 2. order
declaring a debtor bankrupt is called an adjudication in bankruptcy proceedings
3. when land satisfies a debt or is given additional security
tontine
A rare agreement among several persons who
agree hat each will invest in an annuity and the last to die will receive the
remaining assets and profits.
pro bono
Done or donated without charge.
satisfaction of mortgage
A document signed by a lender acknowledging that a mortgage has been fully
paid.
probate
The formal certificate given by a court that
certifies that a will, from that point on, the executor has the legal authority
to execute the will.
privilege
A special legal advantage or right such as a benefit, exemption, or
immunity.
savings and loan
A banking and lending institution, chartered either by a state or the federal
government. Savings and loans only make loans secured by real property from
deposits.
mandamus
A writ which commands an individual, organization, or court to perform a certain
action, usually to correct a prior illegal action or a failure to act in the
first place.
vigilante
Someone who takes the law into his/her own hands by trying or punishing another
person without any legal authority.