Legal Definitions - draw

In a legal context, "draw" refers to the act of creating or drafting a legal document or financial instrument. It also signifies the withdrawal or receipt of money, or the selection of individuals for a specific purpose.

In a legal context, the term "draw" refers to several distinct actions, primarily involving the initiation of a financial transaction, the formal creation of a legal document, or the selection of individuals for a specific legal duty.

• Initiating a Financial Transaction:

  This usage refers to accessing or taking out money that has been made available, often from an account or a pre-approved credit line.

  • Example: A homeowner might draw down on their home equity line of credit (HELOC) to finance a significant renovation project.

    Explanation: Here, 'draw down' signifies the act of taking out a portion of the available funds from the HELOC, initiating a financial transaction to access that money.

• Drafting a Legal Document:

  In this sense, "draw" means to prepare, draft, or formally create a legal document, ensuring it meets all necessary legal requirements.

  • Example: A real estate lawyer will draw up a detailed purchase agreement for a client buying a commercial property, specifying all terms and conditions of the sale.

    Explanation: 'Draw up' in this context means the lawyer is creating and writing the formal legal document (the purchase agreement) from scratch or using a template, tailoring it to the specific transaction.

• Selecting Individuals for a Legal Role:

  This refers to the process of randomly selecting individuals, often from a larger pool, to serve in a specific legal capacity.

  • Example: In a high-profile civil case, the court clerk will draw prospective jurors from the master jury list to begin the selection process for the trial.

    Explanation: Here, 'draw' describes the administrative act of randomly selecting names from a larger pool of eligible citizens to form the initial group from which the final jury will be chosen.