1:23 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:

Hearsay, noun: (1) any statement other than by a witness while testifying at the hearing and offered into evidence to prove the truth of the matter stated. The hearsay statement may be oral or written and included nonverbal conduct intended as a substitute for words (such as a nodding of the head). Lawsuit loan example: when determining if it will fund a lawsuit loan, a lawsuit loan company will not count any evidence that would otherwise be excluded at trial by the hearsay rule. See lawsuit loan, lawsuit cash advance, pre settlement funding, hearsay rule, proceeding and lawsuit funding.

Hereby, adverb: (1) by this means, method or way. Lawsuit loan example: In a lawsuit loan contract, the word hereby often means that the plaintiff accomplishes a certain act by agreement to the terms of the contract. See lawsuit loan, lawsuit cash advance, pre settlement funding and lawsuit funding.

Hypothecate, verb: (1) to pledge something as security without turning over possession of it. Hypothecation creates a right in the creditor to have the pledge sold to satisfy the claim out of the sale proceeds. Lawsuit loan example: when a plaintiff receives a lawsuit loan, he/she agrees not to hypothecate the future proceeds of the lawsuit by taking out another lawsuit loan with a different lawsuit loan company. See lawsuit loan, lawsuit cash advance, pre settlement funding, pledge and lawsuit 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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