Bankruptcy Estate

legal forms that list the debtor's assets, liabilities, monthly exemptions, income, expenses.

Bankruptcy: An individual or entity that has had a bankruptcy filed on their behalf.

Bankruptcy Code When a case is filed a bankruptcy estate is created that consists of the debtor's property.

Chapter 7 Bankruptcy

This type of bankruptcy is called a straight bankruptcy or a liquidation bankruptcy. I

Chapter 11 Bankruptcy A Chapter 11 Bankruptcy is typically a business reorganization.

Exemptions

Exemption laws are laws that define what amount of property a debtor can keep in a bankruptcy case.:

Chapter 13 Bankruptcy A chapter 13 Bankurptcy is a reorganization of debt in which the debtor proposes a re-payment schedule through a chapter 13 trustee.

Notary Public - A public officer whose function it is to administer oaths, to attest and certify documents, and to take acknowledgments

A reaffirmation agreement is an agreement which obligates the debtor to pay certains debts after the bankruptcy discharge.

Discharge As discharge is a court order that evidences that the dischargeable are elminated.

Adversary Proceeding

An adversary proceeding is a law action in a bankruptcy case hat seeks a specificied objective.

Creditor - A person or company to whom money is owed. Show Cause Order - Court order requiring a person to appear and show why some action should not be taken.

Sidebar - A conference between the judge and lawyers, usually in the courtroom, out of earshot of the jury and spectators.

Slander - False and defamatory spoken words tending to harm another's reputation, business or means of livelihood. Slander is spoken defamation; libel is published.

Specific Performance - A remedy by which a court orders a person who has breached an agreement to perform specifically what he or she has agreed to do. Specific performance is ordered when damages alone would be inadequate compensation.

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Speedy Trial - A rule of law wherein the defendant must be brought to trial within 180 days.

Spendthrift Trust - A trust set up for the benefit of someone whom the grantor believes would be incapable of managing his/her own financial affairs.

Strict Liability Statutes - Statutes criminalizing specific conduct without regard to the actor's intent. The only question for a judge or jury in a strict-liability case is whether the defendant did the prohibited act.

Strike - Highlighting evidence, in the record of case, that has been improperly offered and will not be relied upon. Sua Sponte - A Latin phrase which means on one's own behalf, voluntary, without prompting or suggestion.

Subject Matter Jurisdiction - Power of a court to hear the type of case that is before it. Example: a municipal court has subject matter jurisdiction for cases involving violation of that municipality's ordinances, but does not have subject matter jurisdiction over felonies.

Subpoena - A process directing a witness to appear and give testimony at a certain time and in a certain place.

Subpoena Duces Tecum - A court order commanding a witness to bring certain documents or records to court.

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Sovereign Immunity - The doctrine that the government, state or federal, is immune to lawsuit unless it gives its consent, generally through legislation.

Special Damages - Damages that are the actual, but not necessary, consequence of a breach of contract or injury. In contract law, special damages must have been reasonably foreseeable and must flow directly and immediately from the breach, or they are not able to be enforced

declared incompetent, or other person under some disability

No Bill - This phrase, endorsed by a grand jury on the written indictment submitted to it for its approval, means that the evidence was found insufficient to indict

Noise Control Act - A act which gives government agencies the right to promulgate standards and regulations relating to abatement of noise emissions

Nonfeasance - Nonperformance of an act which should be performed; omission to perform a required duty or total neglect of duty

Equitable Pertaining to civil suits in equity rather than in law. In English legal history, the courts of law could order the payment of damages and could afford no other remedy see damages . A separate court of equity could order someone to do something or to cease to do something e.g., injunction . In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in law cases but not in equity cases.

Equity The value of a debtor's interest in property that remains after liens and other creditors' interests are considered.

Information A formal accusation by a government attorney that the defendant committed a misdemeanor. See also indictment.

Injunction A court order preventing one or more named parties from taking some action. A preliminary injunction often is issued to allow fact-finding, so a judge can determine whether a permanent injunction is justified.

Insider of corporate debtor

Surety - One who signs a bond and guarantees to pay money if the defendant fails to appear in court as ordered. Statute - Law passed by a legislative body declaring rights and duties, or commanding or prohibiting certain conduct.

Statute of Frauds - Law which requires that certain documents be in writing, such as leases for more than one year. Under the UCC, contracts for the sale of goods for more than $500 must be in writing to be enforced.

Statute of Limitations - The time within which a plaintiff must begin a lawsuit in civil cases or a prosecutor must bring charges in criminal cases. There are different statutes of limitations at both the federal and state levels for different kinds of lawsuits or crimes. Standing - The legal right to bring a lawsuit. Only a person with some legally recognized interest at stake has standing to bring a lawsuit.

Stare Decisis - The doctrine that courts will follow principles of law laid down in previous cases. Similar to precedent.

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Nonjury trial - Trial before the court but without a jury

Suppress - To forbid the use of evidence at a trial because it is improper or was improperly obtained. See also exclusionary rule. Supra - Latin for above. Pour-Over Will - A will that leaves some or all estate assets to a trust established before the will-maker's death.

In forma pauperis In the manner of a pauper. Permission given by the court to a person to file a case without payment of the required court fees because the person cannot pay them. Statement - A writing made by a person and signed or otherwise adopted or approved by such person; any mechanical, electrical or other recording or a transcription thereof, which is a recital of an oral utterance; and stenographic or written statements or notes which are in substance recitals of an oral statement.

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Summons - A document signed by a deputy clerk ordering a person to appear before the court to respond to a complaint.

Support Trust - A trust that instructs the trustee to spend only as much income and principal as needed for the beneficiary's support.

Statutory Construction - Process by which a court seeks to interpret the meaning and scope of legislation.

Statutory Law - The body of law enacted by the legislative branch of government, as distinguished from case law or common law. Stay - A court order halting a judicial proceeding.

Stipulation - An agreement by attorneys on both sides of a civil or criminal case about some aspect of the case; e.g. to extend the time to answer, to adjourn the trial date, or to admit certain facts at the trial. Summary Judgment - A decision made on the basis of statements and evidence presented for the record without a trial. It is used when there is no dispute as to the material facts of the case, and one party is entitled to judgment as a matter of law.

Surety Bond - A bond purchased at the expense of the estate to insure the executor's proper performance.

Survivorship - Another name for joint tenancy, in which one owner becomes entitled to property because he or she has survived all other owners.