The business judgment rule in the US means that a corporation’s board of directors won’t be held responsible for mistakes made in good faith. Decisions must be reasonable and made in the best interest of the company. Shareholders can take board members to court if there is a belief of misconduct. Some people have challenged […]
Enforcement of judgments varies by jurisdiction. In the US, the court has a limited role in enforcing collection of monies, leaving the plaintiff to use their own resources. Judgment creditors have several legal options for executing judgment available to them, although state law can sometimes restrict these options. After winning a lawsuit, the creditor may […]
When someone is unable to pay a legal judgment due to little or no assets, they are considered proof of judgment. Creditors cannot collect the debt until the debtor’s situation changes. Creditors can still take legal action, and may monitor the debtor for signs of a change in their situation. Creditors can seek repayment through […]
Withholding judgment in criminal cases is when a judge releases the accused person to probation or other out-of-prison service, and if they follow the terms of their probation, the allegations are not recorded on their official record. This is not permitted in all jurisdictions, and whether it is appropriate is usually a matter of judicial […]
Summary judgment is a legal decision made before a trial if there are no disputed facts in a case. Either party can file for it, and supporting evidence is required. If granted, it saves time and money, but it can be appealed. A summary judgment is a legal judgment that is made before a trial […]
A deficiency judgment is a legal judgment that a bank can obtain in some US states if a foreclosure does not satisfy the full amount of the mortgage debt. The bank can sue to obtain the judgment, which can then be enforced by various legal means. If the bank wins the judgment, the homeowner will […]
Monetary judgments are awarded to plaintiffs after a civil trial if the defendant is found liable for damages. They are given for breach of contract, personal injury, and punitive damages. Collection of the awarded money can be difficult, but legal mechanisms exist to effect collection. Monetary judgments are monetary awards awarded after a civil trial […]
A judgment confession is a clause in a contract where a party waives the right to trial if they fail to fulfill the terms. Creditors can apply directly to the court for a judgment against the debtor without notifying them. This can be seen in lease and loan agreements. Debtors should be cautious before signing […]
A default judgment is issued when a defendant fails to respond to a complaint filed against them. The plaintiff must provide evidence of proper service and schedule a hearing before a judge. Most defaults occur when the defendant has no legitimate defense. The defendant can request removal by demonstrating no knowledge of the action and […]
A motion for judgment, also known as a motion for summary judgment, requests a judgment in favor of the motioning party. It consists of a notice of motion, a statement of undisputed material facts, and a legal note. The party requesting the motion must provide evidence, while the opposing party must respond with legal documentation. […]
A judgment lien is a restriction on property ownership due to a court ruling that a defendant owes a plaintiff money. The court may seize assets, garnish wages, or place a lien on property. The lien limits the defendant’s right to sell, and the proceeds must be used to satisfy the judgment. The lien is […]
A judgment record is a formal recording of a court’s judgment. A court clerk records the judgment and files it with the court. After a judge signs a final judgment, the clerk stamps and signs the document, which becomes a matter of public record. The time for filing an appeal varies based on court rules. […]
A civil judgment determines financial responsibility for non-criminal legal matters. It awards remunerative and punitive damages, but does not involve imprisonment or restraining orders. The winning party may need to employ an attorney to collect damages, which could include wage garnishment or liens on assets. Unpaid judgments can negatively affect credit scores. A civil judgment […]
Social judgment theory studies how people form attitudes and make judgments when presented with persuasive messages. It examines the degree of acceptance, rejection, or noncommitment to specific stimuli and the latitude of existing viewpoints. It was created in the 1960s to predict how likely persuasive communications would alter attitudes. Attitudes are based on a complex […]
Private Letter Rulings (PLRs) are documents issued by the IRS in response to a taxpayer’s question. They are accurate and binding only for the specific taxpayer and situation described. PLRs are not binding on other taxpayers, and the IRS is not required to enforce them. Taxpayers can request a PLR to clarify tax code before […]
A motion for summary judgment asks a judge to decide on some or all aspects of a civil case before trial based on questions of law, not fact. Parties can file this motion to avoid discovery and the risk of trial, but it is only valid if there are no possible questions of fact. If […]
Judgment recovery involves collecting money or property from a debtor after a court issues an injunction in favor of a creditor. The creditor can pursue recovery themselves or sell/assign the judgment to a third party. Options for collecting from a debtor include wage garnishment, seizure of assets, and forced sale of assets. Selling the judgment […]
A declaratory judgment is a statement by a judge identifying the rights and obligations of parties in a dispute, without orders on how to proceed. It can prevent further litigation by clarifying legal responsibilities, such as in cases of intellectual property theft or paternity determination. The scope and use of declaratory judgments vary by country, […]
A judgment satisfaction form must be filed with the court to indicate that a judgment has been resolved. The debtor can pay the court directly or arrange an installment plan with the lender. Once paid, the creditor can request a satisfaction judgment form to be filed. Debtors should keep documentation of payment. If a creditor […]
A judgment recovery specialist helps recover legal damages after a court order for payment. They use tools to locate creditors and can file liens or take debtors to court. They are assigned an interest on the debt and may prepay or accept payment at a later date. It’s important to review the contract carefully before […]
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