nonrecourse, adj. Of or relating to an obligation that can be satisfied only out of the collateral securing the obligation and not out of the debtor’s other assets. [Cases: Bills and Notes 44; Secured Transactions 227, 240. C.J.S. Bills and Notes; Letters of Credit § 11; Secured Transactions §§ 152, 164–166, 168–169, 172, 174–175, 180–183.]
forum non conveniens (for-[schwa]m non k[schwa]n-vee-nee-enz). [Latin “an unsuitable court”] Civil procedure. The doctrine that an appropriate forum — even though competent under the law — may divest itself of jurisdiction if, for the convenience of the litigants and the witnesses, it appears that the action should proceed in another forum in which the action
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title retention. A form of lien, in the nature of a chattel mortgage, to secure payment of a loan given to purchase the secured item. [Cases: Chattel Mortgages 1.]
Chapter 13. 1. The chapter of the United States Bankruptcy Code allowing a person’s earnings to be collected by a trustee and paid to creditors by means of a court-approved debt-repayment plan if the person has a regular income. • A plan filed under Chapter 13 is sometimes called a wage-earner’s plan, a wage-earner plan,
housebreaking. The crime of breaking into a dwelling or other secured building, with the intent to commit a felony inside; BURGLARY. • Burglary is now used more frequently than housebreaking. In England, for example, housebreaking was replaced in 1968 with statutory burglary, though the term is still used in Scots law. In some jurisdictions, housebreaking
A debt that has priority over other debts if a debtor becomes insolvent; a secured debt.
electio est creditoris (i-lek-shee-oh est kred-i-tor-is). [Law Latin] Scots law. The creditor has the election or choice. • The phrase appeared in reference to the creditor’s right to apply payments to one debt or another. Cf. ELECTIO EST DEBITORIS. “Electio est creditoris…. This has reference to a creditor’s right to apply indefinite payments, made by
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A bill in equity filed by a lender to have mortgaged property sold to satisfy all or part of the secured, unpaid debt. [Cases: Mortgages 444. C.J.S. Mortgages § 739.]
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chattel paper 动产文据 即用以证明金钱给付义务以及在特定财产上的担保利益或对该财产进行租让的书面文件。在很多情况下，动产文据由一个票据和一个担保协议组成。当交易被一个这样的担保协议或租约以及一个或一系列票据所证明时，这些书面文件结合在一起就构成动产文据 。(→secured transaction; security agreement)