Examlex
Darius wrote a will leaving his property in equal shares "to all my friends" which he dated and signed.Is the will valid?
Default
Failure to fulfill a legal obligation or condition, such as not making a scheduled payment on a loan.
Right of Distress
The legal ability of a landlord to seize a tenant's assets for unpaid rent or other dues.
Guarantor
A person or entity that agrees to be responsible for another's debt or obligations in the event that the latter defaults or fails to meet their contractual obligations.
Secured Debt
A type of debt that is backed by collateral to reduce the risk for the lender, allowing the lender to reclaim the asset if the debt is not paid.
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