Rainier Foreclosure Lawyer, Washington

(1) An informal written document. A memorandum may be used in any number of circumstances, but most lawyers are best acquainted with the interoffice memorandum--a document prepared by a junior associate in a law office or a judge's law clerk outlining the facts, procedural elements and legal arguments involved in a particular legal matter. These memos are reviewed by senior lawyers and judges who use them to decide how to proceed with the case. (2) Any written record, including a letter or note, that proves that a contract exists between two parties. This type of memo may be enough to validate an oral (spoken) contract that would otherwise be unenforceable because of the statute of frauds. (Under the statute of frauds, an oral contract is invalid if it can't be completed within one year from the date the contract is made.)

A legally binding contract in which a person or business promises to treat specific information as a trade secret and not disclose it to others without proper authorization. Nondisclosure agreements are often used when a business discloses a trade secret to another person or business for such purposes as development, marketing, evaluation or securing financial backing. Although nondisclosure agreements are usually in the form of written contracts, they may also be implied if the context of a business relationship suggests that the parties intended to make an agreement. For example, a business that conducts patent searches for inventors is expected to keep information about the invention secret, even if no written agreement is signed, because the nature of the business is to deal in confidential information.

The restrictions governing the use of real estate, usually enforced by a homeowners' association and passed on to the new owners of property. For example, CC&Rs may tell you how big your house can be, how you must landscape your yard or whether you can have pets. If property is subject to CC&Rs, buyers must be notified before the sale takes place.

A legal claim placed on real estate by someone who is owed money for labor, services or supplies contributed to the property for the purpose of improving it. Typical lien claimants are general contractors, subcontractors and suppliers of building materials. A mechanics' lien claimant can sue to have the real estate sold at auction and recover the debt from the proceeds. Because property with a lien on it cannot be easily sold until the lien is satisfied (paid off), owners have a great incentive to pay their bills.

Language used to leave property to a person and his or her descendants, which typically take the form 'to A, and the heirs of his body,' where A is the person receiving the property.

A person or entity (such as a corporation) that must be included in a lawsuit in order for the court to render a final judgment that will be just to everyone concerned. For example, if a person sues his neighbors to force them to prune a tree that poses a danger to his house, he must name all owners of the neighboring property in the suit.

A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash, though they may also be paid in the form of additional shares of stock or other property. The amount of a dividend is established by the corporation's board of directors; however, state laws often restrict a corporation's ability to declare dividends by requiring a minimum level of profits or assets before the dividend can be approved.