Equity - The value of a debtor's interest in property that remains after liens and other creditors' interests are considered. (Example: If a house valued at $60,000 is subject to a $30,000 mortgage, there is $30,000 of equity.)⏎
Defendant - In a civil case, the person or organization against whom the plaintiff brings suit; in a criminal case, the person accused of the crime.⏎
Default judgment - A judgment awarding a plaintiff the relief sought in the complaint because the defendant has failed to appear in court or otherwise respond to the complaint.⏎
Discovery - Procedures used to obtain disclosure of evidence before trial.⏎
De facto - Latin, meaning "in fact" or "actually." Something that exists in fact but not as a matter of law.⏎