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Today's Terms
Arbitration
Definition:
A process for deciding a legal dispute out of court; a substitute for an ordinary trial.
Stipulation
Definition:
An agreement, admission or concession made in a judicial proceeding by the parties or their attorneys, thus relieving a party of its obligation to produce evidence in support of an argument or allegation.
Statute of limitations
Definition:
A statute specifying the period of time after the occurrence of an injury--or, in some cases, after the discovery of the injury or of its cause--during which any suit must be filed.
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