Uniform Commercial Code
A model law covering commercial transactions such as sales and secured transactions. It has force only as each state enacts it.
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Negotiable instrument
A signed written promise or order to pay a fixed amount of money that meets the requirements of UCC Article 3, such as a note or check.
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Security interest
An interest in personal property that secures payment or performance of an obligation, governed by UCC Article 9.
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Equity
The body of law, historically administered by courts of chancery, that provides remedies such as injunctions and specific performance.
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Lien
A legal claim against property as security for a debt.
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Quiet title
A lawsuit to establish ownership of real property against other claims.
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Lis pendens
A recorded notice that a lawsuit affecting title to real property is pending.
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Notice of appeal
The document that starts an appeal.
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Financing statement
A filing (often called a UCC-1) that gives public notice of a security interest under UCC Article 9.
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Fiduciary
A person who must act in another’s best interest, such as a trustee or agent.