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Today's Terms
Precedent
Definition:
A rule of law that is established by an appellate court in an earlier case serves as binding precedent in all subsequent similar cases.
Peremptory challenge
Definition:
Each party to a suit tried to a jury has the right to peremptorily "challenge" (reject) a certain number of prospective jurors without giving a reason. By contrast, the parties have unlimited rights to challenge jurors for good cause, but the judge must approve "for cause challenges." Parties may not exercise peremptory challenges on the basis of race or gender.
Trust
Definition:
A transaction in which the owner of real property or personal property (the trustor or settlor) gives ownership to a trustee, to hold and to manage it for the benefit of a third party, called the "beneficiary."
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