1:36 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:

Wanton Negligence, noun: (1) intentional or willful failure to perform a clear duty, recklessly disregarding the consequences of injury to person or property that attend such failure. Lawsuit loan example: if a plaintiff wants a lawsuit loan for a negligence lawsuit, the lawsuit loan company will want to know if the defendant has intentionally acted in a reckless manner to determine if the case should be classified as gross negligence. See lawsuit loan, lawsuit cash advance, pre settlement funding, negligence, and lawsuit funding.

Warranty, noun: (1) assurance by one party to a contract of the existence of a fact upon which the other party may rely, intended precisely to relieve the promisee of any duty to determine the fact for himself/herself. Lawsuit loan example: to receive a lawsuit loan, the plaintiff and plaintiff’s attorney will have to make a representation and warranty in the lawsuit loan contract that the plaintiff will not try to get another lawsuit loan without the written approval of the current lawsuit loan company. See pre settlement funding, representation, lawsuit loan, lawsuit cash advance and lawsuit funding.

Work Product, noun: (1) set of materials, mental impressions, conclusions, opinions, or legal theories developed by an attorney in anticipation of litigation. The "work product" of an attorney may not be demanded or subpoenaed by the opposing party since the work product reflects the confidential strategy, tactics and theories to be employed by the attorney. Lawsuit loan example: if a plaintiff wants to receive a lawsuit loan, the plaintiff’s attorney must provide the lawsuit loan company enough information on the case without disclosing any work product that is subject to attorney-client privilege. See lawsuit cash advance, lawsuit funding, attorney, pre settlement funding and lawsuit loan.

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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