Sunday, August 3, 2008

Judgment or Judgement

Let's define judgment (or judgement).

Official decision of a court given at the end of a trial. In civil cases, a judgment determines the respective rights and claims of the parties involved. In criminal cases, judgment includes the pronouncement of guilt (or its absence) and, if the defendant is convicted, the sentence. A judgment may also include the reasoning forming the basis of the court's decision. It may be cited as an authority, and treated as a precedent for other similar cases. Also called order. Also spelled as judgement.

This is an interesting subject and we will get to the deficiency judgment protion of the foreclosure aspect of this study soon. For now, keep in mind that a judgment is not a good thing if you are the defendant but it is a postitive thing for the plaintiff creditor in a foreclosure action. That is if they are the prevailing party in a foreclosure and a re attempting to recover a deficiency balance through the award of a deficiency judgment (or judgment) in a court of law.

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