The First Signs of Major Financial Problems Associated with the Financial

question 10

True/False

The first signs of major financial problems associated with the financial sector and real estate investment appeared in 2009.

---

Definitions:

Service of Process

The procedure by which a party to a lawsuit gives an appropriate notice of initial legal action to another party (such as a defendant), court, or administrative body in an effort to exercise jurisdiction over that person or entity.

Appellate Court

A higher court, usually consisting of more than one judge, that reviews the decision and results of a lower court (either a trial court or a lower-level appellate court) when a losing party files for an appeal. Appellate courts do not hold trials but may request additional oral and written arguments from each party; they issue written decisions, which collectively constitute case law or the common law. Also called court of appellate jurisdiction.

Trial Court

The level of court in which civil and criminal cases are initially tried and judged, as opposed to appellate courts which review decisions made by trial courts.

Remands

The process of sending a case back to a lower court from a higher court, or the act of placing a person in custody pending trial.