Common Legal Terminology

Lawsuit -

A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty which resulted in harm to the plaintiff.

Liens -

A charge on specific property that is designed to secure payment of a debt or performance of an obligation. A debtor may still be responsible for a lien after a discharge.

Liquidated claim -

A creditor’s claim for a fixed amount of money.

Liquidation -

The sale of a debtor’s property with the proceeds to be used for the benefit of creditors.

Litigation -

A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.

All terms and definitions on this page are from uscourts.gov/glossary (April 13, 2020)