An acceptance or undertaking not by a party to the instrument, but by a third party, for the purpose of protecting the honor or credit of one of the parties, by which the third party agrees to pay the debt when it becomes due if the original drawee does not. • This type of acceptance […]
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advocate (ad-v[schwa]-kit), n. 1. A person who assists, defends, pleads, or prosecutes for another. public advocate. An advocate who purports to represent the public at large in matters of public concern, such as utility rates or environmental quality. 2. Civil & Scots law. A barrister; specif., a member of the Faculty of Advocates (the Scottish
private judging. A type of alternative dispute resolution whereby the parties hire a private individual to hear and decide a case. • This process may occur as a matter of contract between the parties or in connection with a statute authorizing such a process. — Also termed rent-a-judging. “In contrast [to arbitration], private judging is
derogatory clause. 1. A statutory or contractual provision proclaiming that the document in which it appears, or a part of the document, cannot be repealed or amended. • Such provisions are considered ineffective. “The one thing a sovereign legislature cannot do is truncate its own sovereignty by restricting its successors. A parliament sovereign today must
impair, vb. To diminish the value of (property or a property right). • This term is commonly used in reference to diminishing the value of a contractual obligation to the point that the contract becomes invalid or a party loses the benefit of the contract. See CONTRACTS CLAUSE.
insanity defense. Criminal law. An affirmative defense alleging that a mental disorder caused the accused to commit the crime. See 18 USCA § 17; Fed. R. Crim. P. 12. 2. • Unlike other defenses, a successful insanity defense may not result in in acquittal but instead in a special verdict (“not guilty by reason of
memorandum. 1. An informal written note or record outlining the terms of a transaction or contract (the memorandum indicated the developer’s intent to buy the property at its appraised value). • To satisfy the statute of frauds, a memorandum can be written in any form, but it must (1) identify the parties to the contract,
street. A road or public thoroughfare used for travel in an urban area, including the pavement, shoulders, gutters, curbs, and other areas within the street lines. [Cases: Municipal Corporations 658. C.J.S. Municipal Corporations §§ 1451–1452.] “Strictly speaking, a ‘street’ is a public thoroughfare in an urban community such as a city, town, or village, and
intoxication, n. A diminished ability to act with full mental and physical capabilities because of alcohol or drug consumption; drunkenness. See Model Penal Code § 2.08. [Cases: Criminal Law 52–57; Homicide 821; Negligence 239, 535(14). C.J.S. Criminal Law §§ 109–113; Negligence §§ 128–129, 252.] — intoxicate, vb. culpable intoxication. See voluntary intoxication. involuntary intoxication. The
heirloom. 1. An item of personal property that by local custom, contrary to the usual legal rule, descends to the heir along with the inheritance, instead of passing to the executor or administrator of the last owner. • Traditional examples are an ancestor’s suit of armor, family portraits, title deeds, and keys. Blackstone gave a