Judgment
The final, official decision of a court that resolves a legal dispute and determines the rights and obligations of the parties.
Detailed Explanation
A judgment can result from a trial verdict, settlement agreement entered by the court, default (failure to respond), or summary judgment (no factual dispute). Judgments are enforceable through wage garnishment, bank levies, and property liens. Judgments typically remain valid for 10-20 years and can often be renewed. Collecting on a judgment can be challenging if the defendant has no assets.
Related Terms
Verdict
The formal decision made by a jury or judge at the conclusion of a trial determining the outcome of a case.
Garnishment
A legal process where a creditor collects payment directly from a debtor's wages, bank account, or other assets.
Default Judgment
A court ruling in favor of the plaintiff when the defendant fails to respond to a lawsuit within the required timeframe.