contracts

Creditor's Rights

Definition from Nolo’s Plain-English Law DictionaryThe legal procedures and rights available to creditors for collecting debts and judgments.

Definition provided by Nolo’s Plain-English Law Dictionary.

Cure

Definition from Nolo’s Plain-English Law DictionaryTo eliminate or correct a violation or defect. For example, a landlord's cure or quit notice gives the tenant a set amount of time to correct, or cure, a lease violation or face an eviction lawsuit.

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Cure or Quit

Definition from Nolo’s Plain-English Law DictionaryThe type of written notice given to a tenant by a landlord, telling the tenant that he or she must cease a certain behavior within a certain number of days, or move out. If the tenant does neither, the...

Damages

Definition

In civil cases, a remedy in the form of monetary compensation to the harmed party.

Damages: An Overview

Damages refers to the sum of money the law imposes for a breach of some duty or violation of some right. Generally,...

Debt

Definition from Nolo’s Plain-English Law Dictionary1) An amount owed by one person or entity to another.2) A cause of action in a lawsuit to recover a set amount owed by another person or entity.3) The total of everything a person or entity owes to all...

Debtor

In general, someone who owes an obligation to someone else. Most commonly, an obligation to pay money. In specific contexts:

1. In bankruptcy law, someone who files a voluntary bankruptcy petition, or against whom an involuntary bankruptcy...

Debtor and Creditor

debtor and creditor: an overview

Debtor-creditor law governs situations where one party is unable to pay a monetary debt to another. There are three types of creditors. First are those who have a lien against a particular piece of property. This...

Default

Borrowers default when they breach a term of their loan agreement. For example, a home owner might go into default by failing to make scheduled mortgage payments.

This entry refers to defaults in a debtor and creditor context. For defaults in a...

Delinquent

Definition from Nolo’s Plain-English Law Dictionary1) A payment that is past due or not paid in full.2) A person who disobeys rules or breaks the law such as a juvenile delinquent.

Definition provided by Nolo’s Plain-English Law Dictionary.

Delivery

Definition from Nolo’s Plain-English Law DictionaryThe transfer of an object, money, or document to another. To be effective, real estate deeds must be delivered, but delivery does not necessarily require that the new owner be given physical possession of...

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