Legal Terms of : jaywalking, joint tenancy, Jones Act, Judgments, judicial foreclosure

jaywalking: It is slang for crossing a street at a point other than an intersection or marked crosswalk, or crossing against a traffic signal indication. … Full Definition »
Law topic: Traffic & Moving Violations << Legal issue: Criminal Defense
joint tenancy: an ownership of a parcel of real property by more then one person. In most states the language of the deed must specifically state that the title is held by joint tenants. To create a valid joint tenancy all joint tenants have to obtain their interest at the same time and by the same deed; all joint tenants have to have equal ownership interest in the … Full Definition »
Law topic: Commercial Real Estate << Legal issue: Real Estate Law
Jones Act: The Merchant Marine Act of 1920 (P.L. 66-261) is a United States Federal statute that regulates maritime commerce in U.S. waters and between U.S. ports. Section 27, better known as the Jones Act, deals with cabotage (i.e., coastal shipping) and requires that all goods transported by water between U.S. ports be carried in U.S.-flag ships, constructed in … Full Definition »
Law topic: Shipping Cargo << Legal issue: Admiralty & Maritime Law
Judgments: a judgement, if recorded, becomes a matter of public record. If you have property or buy property, a title search will turn up items of public record. The judge can order that your assets be sold to pay the judgement. A recorded judgment gives the creditor or collection agency the legal right to try and recover payment for a period of up to 20 years. … Full Definition »
Law topic: Credit Repair << Legal issue: Consumer Protection
judicial foreclosure: A judicial foreclosure is a court proceeding that starts when a lender (the bank) files a lawsuit against the defaulted mortgagor to establish the amount of default and the right of a lender to sell the house/apartment and satisfy the outstanding debt. After a lawsuit has been filed, the lender files a "lis pendens" (lawsuit pending notice) with the county … Full Definition »
Law topic: Commercial Real Estate << Legal issue: Real Estate Law
Jurisdiction: Jurisdiction: the scope of authority given to a particular court, tribunal or other decision-making body; the types of cases a court or decision-making body has the power to determine; the geographical area in which a court or decision-making body has the power to make decisions. … Full Definition »
Law topic: General Civil Litigation << Legal issue: Litigation

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bad debt: the debt that can not be collected for different reasons. Generally, credit card debts used to purchase basic nesessities as well as hospital care debts considered "bad debts". Accounts receivable that will likely remain uncollectable and will be written off. Bad debts appear as an expense on the company's income statement, thus reducing net income. … Full Definition »

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