P

The act or state of going before; adjustment of place. Precedence, patent of. In English law. A grant from the crown to such barristers as it thinks proper to honor with that mark of distinction, whereby they are entitled to such rank and preaudience as are assigned in their respective patents. 3 Steph. Comm. 274. … [Read more...] about PRECEDENCE, OR PRECEDENCY

An engagement entered into by a person, which renders him unable to enter into another; as a promise or covenant of marriage to be had afterwards. When made per verba de presenti, it is in fact a marriage, and in that case the party making it cannot marry another person. A contract or engagement made by a person, which is of such a nature as to preclude him from lawfully … [Read more...] about PRECONTRACT

(A) Decisions that are made on an issue in cases that serve as a point of reference or authority for a judge in deciding the same or similar issues in later cases. Precedent creates expectations in society about how a matter should be resolved. Lower courts are usually compelled to follow precedent when a higher court has ruled on a similar legal issue. (B) the decision of … [Read more...] about PRECEDENT

Fraudulent lending practices where experienced lenders take advantage of inexperienced borrowers, typically convincing them to take out high interest mortgages that they are unable to afford. … [Read more...] about PREDATORY LENDING

Such as must happen or be performed before an estate can vest or be enlarged. See CONDITION PRECEDENT. … [Read more...] about PRECEDENT CONDITION