1:35 p.m. - 2006-03-07
Lawsuit Loan Dictionary/Definitions
Beacon Legal Finance has expanded our first of its kind lawsuit loan dictionary to help consumers better understand the technical aspects of lawsuit loans. In a lawsuit loan, a plaintiff receives a cash advance in exchange for paying a portion of the future cash proceeds of the plaintiff’s legal settlement. To understand this new type of consumer finance, plaintiffs need to be familiar with the terminology in both the legal and financial fields, but until now have been unable to find a single dictionary on the Internet that explained concepts and terms for both the law and finance. To make the growing litigation finance market more transparent, Beacon Legal Finance has developed and updated a free lawsuit loan dictionary as a service to the consumer. A plaintiff may access the lawsuit loan dictionary at the following link: http://www.legalfundingdictionary.com/

Here is a sample of the new terms added to the lawsuit loan dictionary:

Verdict, noun: (1) decision of a jury after a trial, which must be accepted by the trial judge to be final. A judgment by a judge sitting without a jury is not a verdict. Lawsuit loan example: once a plaintiff has received a lawsuit loan, the plaintiff’s attorney, on behalf of the plaintiff, has to pay principal and interest to the lawsuit loan company if there is a verdict in the plaintiff’s favor. See judgment, lawsuit loan, lawsuit cash advance, pre settlement funding and lawsuit funding.

Vicarious Liability, noun (1) sometimes called "imputed liability", vicarious liability is the attachment of responsibility to a person for harm or damages caused by another person in a negligence lawsuit. For example, an employer of an employee who injures someone through negligence while in the scope of employment (doing work for the employer) is vicariously liable for damages to the injured person. Lawsuit loan example: if a plaintiff wants to receive a lawsuit loan, the plaintiff’s attorney will have to inform the lawsuit loan company of any defendants with vicarious liability in the case, such as the employer of a defendant if the accident occurred when the defendant was working. See lawsuit funding, lawsuit loan, liability, lawsuit cash advance and pre settlement funding.

Void, adjective (1) referring to a statute, contract, ruling or anything which is null and of no effect. Lawsuit loan example: once a plaintiff has received cash upfront in a lawsuit loan, it is not legal for the plaintiff to consider void the lawsuit loan company’s rights to the future cash proceeds of the plaintiff lawsuit. See lawsuit funding, lawsuit loan, voidable, lawsuit cash advance and pre settlement funding.

Beacon Legal Finance is a leader in the litigation finance industry. Beacon Legal Finance is an affiliate of Lawsuit Cash Advance and is found at www.beaconlegal.com. For questions about pre-settlement funding (also known as a lawsuit loan, lawsuit funding or lawsuit cash advance), call toll free 1-800-781-0777.

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