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Most Popular Legal Definitions

intellectual property

As a type of property, intellectual property has the unique characteristic of being ethereal, of the mind, as opposed to real property, which is tangible.

adjudication

1. the act of giving a judicial ruling such as a judgment or decree 2. order declaring a debtor bankrupt is called an adjudication in bankruptcy proceedings 3. when land satisfies a debt or is given additional security 

tontine

 A rare agreement among several persons who agree hat each will invest in an annuity and the last to die will receive the remaining assets and profits.

pro bono

Done or donated without charge.

satisfaction of mortgage

A document signed by a lender acknowledging that a mortgage has been fully paid.

probate

The formal certificate given by a court that certifies that a will, from that point on, the executor has the legal authority to execute the will.

privilege

A special legal advantage or right such as a benefit, exemption, or immunity.

savings and loan

A banking and lending institution, chartered either by a state or the federal government. Savings and loans only make loans secured by real property from deposits.

mandamus

A writ which commands an individual, organization, or court to perform a certain action, usually to correct a prior illegal action or a failure to act in the first place.

vigilante

Someone who takes the law into his/her own hands by trying or punishing another person without any legal authority.