Sellers Hinshaw Ayers, Dorthch & Lyons P.A.

Legal Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

-J-

Joint enterprise: A generic term for an activity of two or more people, usually (but not necessarily) for profit, which may include partnership, joint venture or any business in which more than one person invests and works.

Joint petition: One bankruptcy petition filed by a husband and wife together.

Joint tenancy: A form of ownership where each party owns the whole property and ownership is not separate. If one party dies, the survivor owns the property.

Joint venture: An enterprise entered into by two or more people for profit, for a limited purpose, such as purchase, improvement and sale or leasing of real estate.

Judicial dissolution: The forced dissolution of a corporation by a court at the request of a state attorney general, shareholder, or creditor.

Judicial lien: Lien obtained by judgment, levy, sequestration, or other legal or equitable process or proceeding.

Judgment: (or Judgement) A decision made by a court of law. In judgments that require the repayment of a debt, the court may place a lien against the debtor's real property.

Judgment notwithstanding the verdict: An order by the trial judge entering a judgment in a manner contradictory to the jury's verdict. This is granted only when the verdict is unreasonable and unsupportable.

Judicial foreclosure: A foreclosure proceeding handled as a civil lawsuit and conducted entirely under the auspices of a court. North Carolina allows deeds of trust and association liens to be enforced through a power of sale foreclosure.

Jurisdiction: The power of a court to act in particular case.

Jury: The panel of people who decide the facts in a lawsuit.