Glossary Archive

Joint Venture Agreement

Joint Venture Agreement A Joint Venture Agreement is a legal contract between two or more parties who agree to collaborate on a specific business project or activity while remaining independent entities. This type of agreement outlines the terms of the partnership, including the roles, responsibilities, contributions, management structure, profit-sharing arrangements, and the duration of the...


Joint Will

A Joint Will is a single legal document that is executed by two or more individuals, typically a married couple, that outlines their mutual wishes regarding the distribution of their assets upon their death. In essence, a Joint Will serves as a testamentary document that reflects the intentions of both parties, often stipulating that the...


Jointly Owned Property Partition Agreement

Jointly Owned Property Partition Agreement A Jointly Owned Property Partition Agreement is a legal document that formalizes the process by which co-owners of property agree to divide their shared interests in that property. This agreement is particularly relevant in situations where multiple parties own a property together, such as siblings inheriting a family home or...


Judgment Lien on Real Estate

Judgment Lien on Real Estate A judgment lien on real estate is a legal claim against a property that arises when a court grants a creditor the right to collect a debt owed by the property owner. This lien attaches to the real property after a court judgment has been obtained against the owner, allowing...


Judicial Dispute Resolution

Judicial Dispute Resolution Judicial Dispute Resolution (JDR) is a process that involves the use of a judge or other judicial officer to assist parties in reaching a settlement of their disputes before proceeding to a full trial. JDR aims to reduce the burden on courts by encouraging settlement, thus saving time and resources for both...


Judicial Foreclosure Process Clause

Judicial Foreclosure Process The Judicial Foreclosure Process is a legal procedure through which a lender seeks to recover the balance of a loan from a borrower who has defaulted on their mortgage payments. This process involves court intervention and typically follows a series of legal steps defined by state law. In a judicial foreclosure, the...


Judicial Settlement Conference

Judicial Settlement Conference A Judicial Settlement Conference is a formal meeting presided over by a judge, aimed at resolving disputes between parties in a legal case without proceeding to trial. This process is typically used in civil litigation, including family law and probate cases, where the parties involved seek to negotiate a settlement with the...


Jury Award in Arbitration

Jury Award in Arbitration A Jury Award in Arbitration refers to the decision or compensation granted by an arbitration panel in a dispute that is typically resolved outside of the court system. Unlike a traditional court trial, where a jury hears the case and renders a verdict, arbitration involves one or more arbitrators who act...


Key Man Insurance Policy

Key Man Insurance Policy A Key Man Insurance Policy is a type of life insurance policy that a business takes out on the life of an important employee, often referred to as a "key person." This key individual typically holds a significant position within the company, possessing specialized skills, knowledge, or relationships that are crucial...


Labor Dispute Arbitration

Labor Dispute Arbitration Labor Dispute Arbitration is a method of resolving conflicts between employers and employees, or their representatives, outside of the courts. It involves an impartial third party known as an arbitrator who is appointed to hear both sides of a dispute and make a binding decision. In the context of labor relations, arbitration...