— The law as established in previous court decisions. A synonym for legal precedent. Akin to common law, which springs from tradition and judicial decisions.
Claim
— A creditor's assertion of a right to payment from a debtor or the debtor's property.
Collateral
— Property that is promised as security for the satisfaction of a debt.
Contract
— An agreement between two or more people that creates an obligation to do or not to do a particular thing.
Conviction
— A judgment of guilt against a criminal defendant.
Counsel
— Legal advice; a term also used to refer to the lawyers in a case.
Court
— Government entity authorized to resolve legal disputes. Judges sometimes use "court" to refer to themselves in the third person, as in "the court has read the briefs."
Creditor
— A person to whom or business to which the debtor owes money or that claims to be owed money by the debtor.