LIFE EVENTS

Cruzan v. Missouri Department of Health (1990)

The U.S. Supreme Court case in which the Court held that family members could not refuse life-sustaining medical treatment -- such as a feeding tube -- on behalf of incompetent patients, absent clear and convincing evidence that the refusal was in accordance with the patients' wishes.

In Re Gault (1967)

The U.S. Supreme Court case in which the Court ruled that juvenile criminal defendants are entitled to due process protection under the Fourteenth Amendment to the U.S. Constitution. Among other things, due process protection includes the right to timely notice of criminal charges, the right to confront and cross-examine witnesses, the right not to testify against oneself, and the right to counsel (representation by a lawyer).

American Recovery and Reinvestment Act of 2009

Also known as the Stimulus Package or Recovery Act, a federal law intended to jumpstart the struggling economy by creating new jobs and saving existing ones, spurring investment, and fostering accountability and transparency in government spending. The package contained extensive funding for science, engineering research, and infrastructure, and smaller amounts for education, social sciences, and the arts. The Act has its own website, www.recovery.gov.

Assumable Mortgage

A type of financing in which one person may take over the mortgage from another.  For example, Buyer 1 wants to buy a house, so he takes out a mortgage (borrows money from the bank to pay for the house).  If Buyer 1 wants to sell the house to Buyer 2 before the mortgage is paid off, and the loan is an assumable mortgage, Buyer 2 may "step into the shoes" of Buyer 1 and take over the mortgage.

Adjustment Date

The date the interest rate changes on an adjustable-rate mortgage (ARM). On most ARMs, the rate starts out fixed at a discount for an initial period, such as five years. Then it's reset (typically upward) on the adjustment date to reflect current market rates. The rate continues to change on a regularly scheduled basis at each adjustment period.

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