Purchase money resulting trust is a type of resulting trust that may arise when one person pays all or part of the purchase price for property, but title to the property is taken in the name of another.
Purchase-money collateral refers to collateral that was purchased completely or in part by the debtor with the funds given to create a security interest in the collateral.
Purchase-money security interest (PMSI) refers to security interests in purchase-money collateral. Purchase-money collateral is the collateral that was purchased completely or in part by the debtor with the funds given to create a security interest in the collateral.
Pure per stirpes is a method of distributing an intestate estate among a decedent’s descendants.
The putative spouse doctrine’s purpose is to protect the financial and property interests of a person who enters into a bigamous marriage believing in good faith that it is a valid marriage. The person who is unaware his spouse is already married is called the “putative spouse.” In jurisdictions that recognize the putative spouse doctrine, the putative spouse will be entitled to marital property rights along with the legal spouse, that is, both spouses will share the property rights.
A race statute is a type of recording act which gives priority of title to the first party who records their claim to a piece of property, even if that party had notice of an earlier unrecorded claim on the property.
Race to the bottom describes a causal chain in which competing entities, such as governments, regulatory bodies, or corporations, seek advantage by progressively lowering standards, regulations, or costs, often resulting in diminis
A race-notice statute is a type of recording act which gives priority of title to the first bona fide purchaser to record their claim.
Ratio decidendi is Latin for "rationale for the decision." The term refers to a key factual point or chain of reasoning in a case that drives the final judgment. When considering earlier cases as precedent, courts often ask parties to be very clear about how they interpret the main guiding principle or ratio
Clausula rebus sic stantibus is a clause in (international agreements or treaties) that provides for the unenforceability of a treaty due to fundamentally changed circumstances. The doctrine is one of the oldest no
