What Is Litigation? Legal Definitions Explained

Lawsuit definition and meaning

Examples of civil suits include disagreements over child custody, adoptions, and debt collection. Types of class actions include securities litigation, civil rights proceedings such as school funding, and consumer product liability cases. Congress laid out additional rules for securities class-action lawsuits in the Private Securities Litigation Reform Act of 1995. The judicial process whereby a court examines https://business-accounting.net/ whether a case shall be permitted to proceed as a class action is called certification. The judge assigned to the class-action complaint must first decide whether the case is a proper class-action lawsuit. There are many prerequisites that the judge will review before issuing a certification order. These prerequisites are aimed at reviewing the balance between filing individual claims and a class claim.

  • The clerk’s office is often called a court’s central nervous system.
  • Legal financing can be a practical means for litigants to obtain financing while they wait for a monetary settlement or an award in their personal injury, workers’ compensation, or civil rights lawsuit.
  • When the suit is finalized and a settlement has been reached, only then does our legal team receive payment, calculated as a percentage of the overall recovery.
  • After the series of Tweets and a letter to employees in which Musk laid out his thought process, there was silence on the topic from both Musk and the company.
  • The lawsuits also claimed Musk hadn’t lined up the financing necessary to take Tesla private and therefore made false statements.

Deposition – An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial. Defense table – The table where the defense lawyer sits with the defendant in the courtroom. Default judgment – A judgment rendered because of the defendant’s failure to answer or appear. Counsel – Legal advice; a term used to refer to lawyers in a case. Clerk of court – An officer appointed by the court to work with the chief judge in overseeing the court’s administration, especially to assist in managing the flow of cases through the court and to maintain court records.

lawsuit ​Definitions and Synonyms ​‌

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Lawsuit definition and meaning

The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction. A non-operating or “other” reduction in net income resulting from a judgment against the company. It is shown in the accounting period when the amount is determined to be probable Lawsuit definition and meaning and the amount can be estimated. This means that the loss is likely to be shown earlier than the date that the payment is made. If the “loss” is only possible it is disclosed in the notes to the financial statements rather than a reduction on the income statement and a liability on the balance sheet. If the “loss” is remote it is neither noted nor entered on the financial statements.


As long as there is a dispute between the plaintiff and defendant, they will still both be in litigation. Whereas, a lawsuit is a specific legal action wherein the plaintiff files a complaint with the court. The amount of money you can get from a class-action lawsuit varies widely. It depends on the number of individuals that make up the lawsuit and the amount that the courts deem an appropriate sum. The proceeds of the settlement are not proportioned out equally. Lawyers get a large percentage, and then those that were impacted the most.

  • In a nutshell, a litigation’s definition is the process used to resolve a lawsuit.
  • Chapter 7 The chapter of the Bankruptcy Code providing for “liquidation,” that is, the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors.
  • In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one.
  • Litigation is usually resolved in a court trial where a judge makes the final decision.
  • Litigation is a term often heard when speaking with legal professionals or even while watching some movies or TV shows.
  • The lawsuit, filed in Manhattan, has now been withdrawn because of Meta’s internal arbitration clause.

Discharge A release of a debtor from personal liability for certain dischargeable debts. Notable exceptions to dischargeability are taxes and student loans. The discharge also prohibits creditors from communicating with the debtor regarding the debt, including through telephone calls, letters, and personal contact. Chapter 7 The chapter of the Bankruptcy Code providing for “liquidation,” that is, the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors. In order to be eligible for Chapter 7, the debtor must satisfy a “means test.” The court will evaluate the debtor’s income and expenses to determine if the debtor may proceed under Chapter 7.

28/09/2022 10:58