Glossary Archive

Novation Agreement in Real Estate A Novation Agreement in real estate is a legal document that replaces one party in an existing contract with the consent of all parties involved. This process effectively transfers the rights and obligations of the original party to a new party, thereby extinguishing the original contract and creating a new...

Overview Novation of Trust refers to the process of replacing an existing party in a trust agreement with a new party, with the consent of all involved parties. This legal mechanism effectively transfers the rights and obligations associated with the trust, allowing for a fresh arrangement that may better suit the needs of the beneficiaries...

The Omnibus Clause is a provision commonly found in legal documents, particularly in contracts, that allows for the inclusion of a broad range of provisions or subjects under a single clause. This clause serves as a catch-all, ensuring that various related matters can be addressed without the need for multiple specific clauses. In the context...

Online Dispute Resolution (ODR) Online Dispute Resolution (ODR) is a method of resolving disputes through the use of digital platforms and technology. It encompasses a variety of processes that facilitate negotiation, mediation, and arbitration without requiring the parties to be physically present in the same location. ODR leverages the internet to provide tools and services...

Online Dispute Resolution (ODR) Platforms Online Dispute Resolution (ODR) Platforms are digital tools or systems designed to facilitate the resolution of disputes through the internet. They are primarily used in contexts such as e-commerce, consumer disputes, and international trade but can apply to various types of conflicts, including those involving individuals, businesses, and organizations. ODR...

Online Mediation Services Online Mediation Services refer to the use of digital platforms to facilitate mediation processes between parties in dispute without the need for physical presence. This method leverages video conferencing, chat rooms, and other technologies to connect mediators and participants, allowing for the resolution of conflicts efficiently and conveniently. Online mediation is commonly...

Online Settlement Facilitation Online Settlement Facilitation refers to a process that utilizes digital platforms and technology to assist parties in reaching a settlement in legal disputes without the need for traditional in-person meetings. This method is particularly beneficial in various legal contexts, including civil litigation, family law, and probate matters, where negotiation and resolution are...

Probate Probate is the legal process through which a deceased person's will is validated and their estate is administered. This process ensures that the deceased's debts are settled and their assets are distributed according to their wishes as outlined in the will or, in the absence of a will, according to state intestacy laws. The...

Mediation Mediation is a voluntary and confidential process in which a neutral third party, known as a mediator, assists disputing parties in reaching a mutually satisfactory agreement. It is often used as an alternative dispute resolution (ADR) method, providing a less formal and more flexible way to resolve conflicts compared to litigation. In mediation, the...

Operating Agreement An Operating Agreement is a foundational document used by limited liability companies (LLCs) to outline the management structure and operational procedures of the business. This agreement serves as an internal guideline for members, detailing the rights, responsibilities, and obligations of the members and managers. The Operating Agreement typically includes several key components: Organization...