A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty which resulted in harm to the plaintiff.
1. In negotiations, bargaining power or the ability to exert pressure on
the other party to obtain a desired resolution. 2. In financing, making
an investment consisting largely of borrowed funds.
the purchase of stock in a corporation with borrowed funds, financed
by the corporation itself or secured by its assets.
used broadly, any charge against or interest in property to secure a
creditor's right to payment, so that if the debt is not paid, the creditor
may have recourse to the property to satisfy the debt. (See §101(32).)
"Lien" is sometimes used more narrowly to denote only such interests
that arise by operation of law or court order, as distinct form interests
created by contract, called "security interests".
A charge upon real or personal property for the satisfaction of a debt or discharge of an obligation. Examples would include: judgments, taxes, mortgages, deeds of trust, etc.
the holder of a lien.
a strategy whereby the debtor attempts to peg an undersecured debt
at the value of the collateral as determined by the bankruptcy court,
so that if the collateral appreciates after the bankruptcy case, the lien
(which survives the bankruptcy) cannot extend to the increase in
equity but is frozen at the bankruptcy valuation.
A debt that’s value is known as to a certain dollar amount. An unliquidated debt is one where the debtor has liability, but the exact monetary measure is unknown. Tort claims are usually unliquidated until a trial fixes the amount of the liability of the tort feasor.
(Latin: "Pending suit".) The doctrine, deriving from common law,
that a person who acquires an interest in realty while litigation is
pending concerning title, possession, or other rights to it, is bound
by the court's ultimate resolution of the controversy. A party wishing
to be protected by the doctrine must file a notice of pendency in the
real estate records to give constructive notice of the litigation to any
A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
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Pursuant to 11 U.S.C. §528, “We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”