| | buy goods. See Illinois Compiled Statutes 810 ILCS 5/2-103Chambers: A judge's office.Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Illinois Compiled Statutes 810 ILCS 5/2-106Conviction: A judgement of guilt against a criminal defendant.Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.Counterclaim: A claim that a defendant makes against a plaintiff.County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.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.Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.Dismissal: The dropping of a case by the judge without further consideration or hearing. Source: Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.Executor: A male person named in a will to carry out the decedentFair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.Fiduciary: A trustee, executor, or administrator.Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCCForgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCCFraud: Intentional deception resulting in injury to another.Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCCGarnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtorGrand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCCGuardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCCInterrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.Legacy: A gift of property made by will.Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. MintLiabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.Lien: A claim against real or personal property in satisfaction of a debt.Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.Minority leader: See Floor LeadersMonth: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10Mortgage: The written agreement pledging property to a creditor as collateral for a loan.Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.Oversight: Committee review of the activities of a Federal agency or program.Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.Personal property: All property that is not real property.Plaintiff: The person who files the complaint in a civil lawsuit.Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.present sale: means a sale which is accomplished by the making of the contract. See Illinois Compiled Statutes 810 ILCS 5/2-106Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.Quorum: The number of legislators that must be present to do business.Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDICRemainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.Remand: When an appellate court sends a case back to a lower court for further proceedings.Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.school term: means the school term established by the board pursuant to Section 10-19 of this Code, and "full-time service" means the teacher has actually worked at least 150 days during the school term. See Illinois Compiled Statutes 105 ILCS 5/34-84Seller: means a person who sells or contracts to | | | sell goods. See Illinois Compiled Statutes 810 ILCS 5/2-103Service of process: The service of writs or summonses to the appropriate party.Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.Statute: A law passed by a legislature.Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.Subpoena: A command to a witness to appear and give testimony.sworn: shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12teachers: means and includes all members of the teaching force excluding the general superintendent and principals. See Illinois Compiled Statutes 105 ILCS 5/34-84Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.Testify: Answer questions in court.Testimony: Evidence presented orally by witnesses during trials or before grand juries.Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.Trustee: A person or institution holding and administering property in trust.Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCCUnited States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28Venue: The geographical location in which a case is tried.Verdict: The decision of a petit jury or a judge.
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