Party - Law Dictionary Search Results
set-off
setting against it a claim in favor of the debtor ;specif : the reduction or discharge of a party's debt or claim by an assertion of another claim arising out of another transaction or cause of action
set-off
setting against it a claim in favor of the debtor ;specif : the reduction or discharge of a party's debt or claim by an assertion of another claim arising out of another transaction or cause of action
subcontract
subcontract : a contract between a party to an original contract and a third party that assigns part of the performance (as building a house)
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substitution
to a third person compare fidei commissum, vulgar substitution NOTE: Substitutions are prohibited. b : replacement of a party to an action with a successor or representative upon motion to the court when the party is unable
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the
accommodate
event of nonpayment as a way of reassuring a reluctant creditor see also accommodation paper at paper accommodation party at party NOTE: To accommodate a debtor effectively, the party must sign the debt instrument, adding words describing
unavoidable casualty
circumstance that prevents the timely performance of a procedural act (as the filing of an answer) by a party or the party's lawyer compare excusable neglect NOTE: As with excusable neglect, showing evidence of unavoidable casualty will
Absolute
so called in contradistinction to a rule or order nisi which is made on the application of one party only without notice to the other (ex parte), to be made absolute unless the other party succeed in
Collusion
an arrangement which may serve as a cloak to cover up the real state of affairs. When one party can dominate over the will of the other, it would not be a case of collusion but one
Abandonment
were synonymous with rescission, but the two should be distinguished. An abandonment is merely the acceptance by one party of the situation that a non-performing party has caused. But rescission due to a material breach by the
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