Search results for: lien agent

duty. 1.  A legal  obligation that is owed  or  due to another and that  needs to be satisfied; an obligation for which somebody else has a corresponding right. “There is a duty if the court says there is a duty; the law, like the Constitution,  is what  we make  it.  Duty  is  only  a  word …

practice of law. The professional work of a duly licensed lawyer, encompassing a broad range of services such as conducting cases in court, preparing papers necessary to bring about various transactions from conveying land to effecting corporate mergers, preparing legal opinions on various points of law, drafting wills and other estate-planning documents, and advising clients…

commission,n.1. A warrant or authority, from the government or a court, that empowers the person named to execute official acts <the student received his commission to the U.S. Navy after graduation>.2. The authority under which a person transacts business for another <the client gave her attorney express commission to sign the contract>.3. A body of…

claim,n.1. The aggregate of operative facts giving rise to a right enforceable by a court <the plaintiff’s short, plain statement about the crash established the claim>. — Also termed claim for relief. 2. The assertion of an existing right; any right to payment or to an equitable remedy, even if contingent or provisional <the spouse’s…

hypothec (hI-poth-ek or hi-).Civil law. A mortgage given to a creditor on property to secure a debt; HYPOTHECA. landlord’s hypothec.Scots law. The lessor’s right of security for rent in articles, furniture, and equipment (other than tools of the tenant’s trade) that the tenant brought onto the leased premises. • Unlike the English remedy of distress,…

insurance. 1. A contract by which one party (the insurer) undertakes to indemnify another party (the insured) against risk of loss, damage, or liability arising from the occurrence of some specified contingency, and usu. to defend the insured or to pay for a defense regardless of whether the insured is ultimately found liable. • An…

Lloyd’s of London.Insurance. 1. A London insurance mart where individual underwriters gather to quote rates and write insurance on a wide variety of risks. 2. A voluntary association of merchants, shipowners, underwriters, and brokers formed not to write policies but instead to issue a notice of an endeavor to members who may individually underwrite a…

Lloyd’s of London.Insurance. 1. A London insurance mart where individual underwriters gather to quote rates and write insurance on a wide variety of risks. 2. A voluntary association of merchants, shipowners, underwriters, and brokers formed not to write policies but instead to issue a notice of an endeavor to members who may individually underwrite a…

mortgage servicing.The administration of a mortgage loan, including the collection of payments, release of liens, and payment of property insurance and taxes. • Servicing is usu. performed by the lender or the lender’s agent, for a fee. [Cases: Mortgages 211. C.J.S. Mortgages §§ 274–276.] [Blacks Law 8th]

notice,n.1. Legal notification required by law or agreement, or imparted by operation of law as a result of some fact (such as the recording of an instrument); definite legal cognizance, actual or constructive, of an existing right or title <under the lease, the tenant must give the landlord written notice 30 days before vacating the…