Shared Flashcard Set

Details

RE 17
RE Final
17
Real Estate & Planning
Professional
11/15/2011

Additional Real Estate & Planning Flashcards

 


 

Cards

Term
Transactional Law
Definition
Body of law that governs transactions between persons, companies, and government entities
Term
Litigation
Definition
Process of bringing a case to trial
Term
Competent
Definition
A lawyer, paralegal, or law firm must be this to take on a matter if they possess the requisite legal skill to handle the case as would an ordinarily prudent legal professional under the same or similar circumstances
Term
Retainer Agreement
Definition
Contract of engagement between lawyer and client that sets forth the scope of representation and establishes the fee structure between the parties
Term
Contingency Fee Agreement
Definition
Law firm retains a percentage of recovery
Term
Fixed Fee Retainer Agreement
Definition
Law firm agrees to perform a specific service for the client for a flat fee
Term
Litigation Budget
Definition
Document that identifies and assigns costs and expenses associated with each stage of a litigation case
Term
Summons and Complaint
Definition
Legal documents that initiate a lawsuit
Term
Discovery
Definition
Stage of litigation when the parties obtain factual information concerning the case from one another and third parties
Term
Voir Dire
Definition
Jury selection process in which counsel and the judge can ask questions of prospective jurors to determine their qualification to serve on the jury
Term
Action to Quiet Title
Definition
Court proceeding brought to establish an individual's right of ownership in real property
Term
Liquidated Damages Clause
Definition
Provision in a contract that establishes a fixed amount for the measure of damages in the event of a breach
Term
Specific Performance
Definition
Remedy available in transactions involving real property and unique goods in which the court orders a party to carry through with the terms set forth in the contract
Term
Discovery Plan
Definition
Strategy for identifying the people, documents, and things that will be introduced into evidence to prove up a case
Term
Summons
Definition
Document that notifies the defendant that they are getting sued
Term
Complaint
Definition
Document used by the plaintiff to set forth the allegations giving rise to the lawsuit
Term
Written Retainer Agreement
Definition
Required for all contingency fee agreements
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