Tuesday, May 01, 2007
Word of the Day: Champerty
Champerty is the practice of taking a material interest in a lawsuit as a "third party" in order to share in the proceeds. It is legal under some circumstances and jurisdictions, and it is illegal in others.
If you're injured, and I say, "I'll give you $1000 right now if you'll assign me 50% of any future settlement," that's champerty.
Thanks to David P. Reed for this!
If you're injured, and I say, "I'll give you $1000 right now if you'll assign me 50% of any future settlement," that's champerty.
Thanks to David P. Reed for this!
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