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As colloquially applied to a note, bond, mortgage, lease, etc, this term signifles that the clauses providing the creditor's remedy in case of default (as, by foreclosure, execution, distress, etc.) are summary and stringent … [Read more...] about TIGHT

A contract clause which states that time is an important and essential element of the completion of the contract and some task must be done within a specific period of time. … [Read more...] about TIME OF THE ESSENCE

civil law. The name of a servitude; it is the right of inserting a beam or timber from the wall of one house into that of a neighboring house, in order that it may rest on the latter, and that the wall of the latter may bear this weight. … [Read more...] about TIGNI IMMITTENDI

The amount of time that a criminal defendant has served at the time of sentencing. If a judge sentences the defendant to time served it is essentially the same as setting the defendant free at the conclusion of the trial and sentencing. … [Read more...] about TIME SERVED

Latin: A civil law term for building material; timber. … [Read more...] about TIGNUM