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Most Popular Legal Definitions
district court
the location, pertaining to a specific legal
district, where federal cases are initially heard
chancellor
From the Old English legal system, a chancellor is a judge who sits in what is
called a chancery (equity) court with the power to order something be done (as
distinguished from just paying damages).
satisfaction of judgment
A document signed by a judgment creditor stating that the full amount due on the
judgment has been paid.
offense
A crime.
lex situs
Latin, a conflict of law rule that selects the applicable law based on the
location of something
unclean hands
A legal doctrine which is a defense to a complaint, which states that a party
who is asking for a judgment cannot have the help of the court if he/she has
done anything unethical in relation to the subject of the lawsuit.
collusion
secretive agreement between two or more persons,
who seem to have conflicting interests, to abuse the law or the legal system,
deceive a court or to defraud a third party
book value
A determination of the value of a corporation's stock by adding up the stated
value of corporate assets as shown on the books (records) of a corporation and
deducting all the liabilities (debts) of the corporation. This may not be the
true value of the corporation or its shares since the assets may be under- or
over-valued.
admission of guilt
statement by someone accused of a crime that he/she committed the offense
occupational rent
A joint property compensatory claim based on an allegation that one tenant ought
to be debited the value of their exclusive occupation of the family or
jointly-held home.