Judgment

Affirmative Relief
Affirmative relief refers to the relief, benefit, or compensation that may be granted to the defendant in a legal judgment or decree based on the facts established in their favor.
Friendly Suit
A Friendly Suit is an action authorized by law, brought by agreement between the parties, to secure a judgment that will have a binding effect in cases where an agreement or settlement would not.
Halo Effect
The Halo Effect refers to the cognitive bias where an observer's overall impression of a person influences their feelings and thoughts about that person's specific traits or abilities.
Judgment
Judgment refers to the determination or decision of a court, or a monetary decision for property taken for public use. It also encompasses the use of understanding and intuition to resolve problems.
Lien
A lien is a legal right or interest that a creditor has in the debtor's property, which lasts until the debt obligation is satisfied. It is a type of encumbrance used to secure the payment of a debt, judgment, mortgage, or taxes.
No-Brainer
In slang, a no-brainer refers to a decision-making scenario where the correct choice is so obvious it requires no thought.
Reasonable Man / Reasonable Person
A hypothetical individual in society who exhibits prudent attention, knowledge, intelligence, and judgment for the protection of their own interests and the interests of others.
Summons
A summons is a legal mandate requiring the appearance of the defendant under the penalty of having a judgment entered against them for failure to appear. The primary purpose of a summons is to notify the defendant that they have been sued.

Accounting Terms Lexicon

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