Glossary Archive

Deficiency Judgment in Foreclosure A deficiency judgment in foreclosure is a court order that allows a lender to collect the difference between the amount owed on a mortgage and the amount recovered from the sale of the foreclosed property. This situation arises when a property is sold at a foreclosure auction for less than the...

Derivative Action A derivative action is a lawsuit brought by a shareholder or member of a corporation or limited liability company (LLC) on behalf of the entity, typically against its directors or officers. This type of action is taken when the entity itself has failed to enforce its rights or pursue a claim for wrongdoing,...

Derivative Action A derivative action is a lawsuit brought by a shareholder or member of a company on behalf of the corporation to enforce a right or claim that the corporation itself has failed to pursue. This type of legal action is typically initiated when the management or board of directors neglects their duties, allowing...

Design-Build Contract Agreement A Design-Build Contract Agreement is a project delivery system that consolidates both the design and construction phases into a single contract. This approach streamlines the project process by allowing one entity, the design-build contractor, to handle both the architectural design and the construction work, thereby minimizing risks and enhancing communication. In a...

Development Rights Agreement A Development Rights Agreement is a legal document that outlines the terms and conditions under which an individual or entity may develop property by utilizing certain rights associated with that property. This agreement typically involves the transfer or allocation of development rights, which can include the ability to build, modify, or enhance...

Deviation from Easement Rights Deviation from easement rights refers to a situation where an individual or entity uses an easement in a manner that is not consistent with the terms of the easement agreement or the intended purpose of the easement. An easement is a legal right to use another person's land for a specific...

Digital Asset Assignment Agreement A Digital Asset Assignment Agreement is a legal document that specifies the transfer of rights and ownership of digital assets from one party to another. Digital assets can include a variety of online properties such as domain names, social media accounts, websites, digital currencies, and intellectual property like online content, software,...

A Digital Asset Trust is a legal arrangement designed to manage and protect digital assets, which can include a variety of online accounts, cryptocurrencies, digital files, and other intangible items of value stored electronically. This type of trust allows the creator, known as the grantor, to specify how their digital assets should be handled during...

Directors and Officers Liability Insurance (D&O Insurance) Directors and Officers Liability Insurance, commonly referred to as D&O Insurance, is a specialized form of liability insurance that protects the personal assets of corporate directors and officers, as well as the financial well-being of the organization itself, in the event that they are sued for alleged wrongful...

Directors and Officers Liability Insurance (D&O Insurance) Directors and Officers Liability Insurance, commonly referred to as D&O Insurance, is a type of insurance designed to protect the personal assets of corporate directors and officers in the event that they are sued for alleged wrongful acts while managing a company. This coverage is crucial as it...