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judgment

decision or determination on a matter or case by a court ;esp : final judgment in this entry compare dictum, disposition, finding, holding, opinion, ruling, verdict NOTE: Under Rule 54 of the Federal Rules of Civil Procedure

partnership

that conduct a business for profit as co-owners see also Uniform Partnership Act in the Important Laws section compare corporation, joint venture, sole proprietorship NOTE: Except in civil law as practiced in Louisiana, where a partnership, like

liability

which one is liable: as a : a financial obligation : debt [tax ] [the bonds are liabilities] compare asset contingent liability : an amount that may or may not be owed depending on the outcome of

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Abstract of title

unless it be stipulated otherwise), and delivers it to the solicitor of the proposed purchaser or mortgagee, who compares it with the original title-deeds, and makes requisitions (when necessary), in order to ascertain any important but undisclosed

verdict

actions is for the plaintiff or for the defendant and in criminal actions is guilty or not guilty compare judgment compromise verdict : a verdict produced not by sincere unanimous agreement on guilt or liability but by

title

grantor who purported to sell the property before acquiring title ;also : a doctrine that requires such vesting compare estoppel by deed at estoppel NOTE: The doctrine of after-acquired title generally does not apply when the grantor

sale

one party to another for a price ;also : the contract of such a transaction see also short compare barter, donation, exchange, gift absolute sale : a sale that takes place without conditions and with title simply

presumption

conclusive presumption : a presumption that the law does not allow to be rebutted called also irrebuttable presumption compare rebuttable presumption in this entry mandatory presumption : a presumption that a jury is required by law to

merger

: the absorption of a lesser estate or interest into a greater one held by the same person compare confusion 2 : the incorporation and superseding of one contract by another 3 a : the treatment (as

tenancy

last survivor [a right to sever the joint tenancy] see also tenancy by the entirety in this entry compare tenancy in common in this entry life tenancy : the tenancy of one with a life estate ;also

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