1:22 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:

General Negligence, noun: (1) failure to exercise a degree of care that a person of ordinary prudence (a reasonable person) would exercise under the same circumstances. The term refers to conduct that falls below the standard established by law for the protection of others against unreasonable risk of harm. Lawsuit loan example: to receive a lawsuit loan for a general negligence lawsuit, the plaintiff’s attorney will have to show the lawsuit loan company that the defendant exposed the plaintiff to an unreasonable risk of harm and that the plaintiff suffered from this harm. See lawsuit loan, lawsuit cash advance, general negligence lawsuit, pre settlement funding and lawsuit funding.

Good Title, noun: (1) legal document establishing evidence of ownership (called title) that is free of liens and legal questions as to ownership of the property. Lawsuit loan example: for a plaintiff to receive a lawsuit cash advance, the plaintiff must have good title to the cash proceeds of the lawsuit so that the plaintiff may sell a portion of the cash proceeds of the lawsuit to the pre settlement funding company. See pre settlement funding, lawsuit funding, clear title, lawsuit loan and lawsuit cash advance.

Guarantee, verb: (1) to agree or promise to be responsible for paying the debt of another. Lawsuit loan example: The plaintiff’s attorney does not guarantee the payment of principal or interest on the lawsuit loan for the plaintiff. See lawsuit loan, lawsuit cash advance, pre settlement funding, guaranty, 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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