1:28 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:

Malpractice, noun: (1) professional’s improper or immoral conduct in the performance of his or her duties, done either intentionally or through carelessness or ignorance. Malpractice is commonly applied to physicians, surgeons, dentists, lawyers and public officers to denote negligent or unskillful performance of duties where professional skills are obligatory on account of the fiduciary relationship with patients and clients. Lawsuit loan example: for a plaintiff to receive a lawsuit loan for a malpractice case, the plaintiff’s attorney needs to provide documents to the lawsuit loan company that a professional demonstrated improper conduct that caused injury to the plaintiff. See lawsuit loan, lawsuit cash advance, lawsuit funding, medical malpractice and pre settlement funding.

Material, adjective: (1) necessary, meaningful, pertinent to a matter, fact or issue. Lawsuit loan example: if a plaintiff wants to receive a lawsuit loan, the plaintiff’s attorney must provide the lawsuit loan company with all of the material facts and documents of the lawsuit. See lawsuit loan, lawsuit cash advance, pre settlement funding, material fact and lawsuit funding.

Maturity Date, noun: (1) specified date that a liability, debt or obligation in the form of a loan owed to another person is required to be paid. Lawsuit loan example: although many lawsuit loan contracts have a maturity date, the plaintiff does not need to pay back principal and interest on the lawsuit loan until the lawsuit resolves. See pre settlement funding, lawsuit funding, loan, lawsuit loan and lawsuit cash advance.

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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