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Simple English definitions for legal terms

equity of exoneration

Read a random definition: warrant to sue and defend

A quick definition of equity of exoneration:

Equity of Exoneration: This is a fancy way of saying that if someone owes money and can't pay it, someone else who promised to pay for them (like a guarantor or surety) can ask the original debtor to pay instead. It's like a backup plan for when the first person can't pay. This is different from when two people owe money together and have to split the payment equally.

A more thorough explanation:

Definition: Equity of exoneration refers to the right of a person who is secondarily liable on a debt to make the primarily liable party discharge the debt or reimburse any payment that the secondarily liable person has made. This right exists when parties are successively liable, unlike contribution, which exists when the parties are equally liable.

Example: A surety is a person who agrees to pay a debt if the primary debtor fails to do so. In this case, the surety has the right of exoneration, which means that they can call on the principal debtor to reimburse them after they have paid the debt. For instance, if a person takes out a loan and a friend acts as a surety, the friend can demand reimbursement from the borrower if they end up paying the loan.

Explanation: The example illustrates equity of exoneration because the surety has the right to demand reimbursement from the primary debtor after they have paid the debt. This right exists because the surety is secondarily liable, and it would be unfair for them to bear the burden of the debt when the primary debtor is responsible for it.

Another example of equity of exoneration is when a testator leaves a gift of property encumbered by a mortgage or lien. In this case, the doctrine of exoneration operates to satisfy the encumbrance from the general assets of the estate. This means that the estate will pay off the mortgage or lien, and the beneficiary will receive the property free and clear of any debt.

Explanation: This example illustrates equity of exoneration because the doctrine operates to remove the burden of the mortgage or lien from the beneficiary. The estate is responsible for paying off the debt, and the beneficiary receives the property without any encumbrances. This is an equitable outcome because it would be unfair for the beneficiary to bear the burden of the debt when they did not create it.

equity loan | equity of partners

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JumpySubsequentDolphin
10:42
also yeah Arabs are like perpetually vit d deficient. we get those big bulk pill bottles for everyone in my family
GreyCeaselessMammoth
10:43
that's so interesting, i have a lot of arab family but i haven't heard of that
GreyCeaselessMammoth
10:43
i guess it makes sense
JumpySubsequentDolphin
10:43
@shaquilleoatmeal: I still think that would hurt my stomach
lilypadfrog
10:43
@shaquilleoatmeal: quarterly is crazy I haven’t gotten a physical in over three years
PuppyBot
10:43
median vitamin D intakes of American blacks are below recommended intakes in every age group, with or without the inclusion of vitamin D from supplements.
JumpySubsequentDolphin
10:43
@GreyCeaselessMammoth: NO WAY!! from where mammoth
GreyCeaselessMammoth
10:44
egypt! wa usratik mineyn?
indian people are also vitamin d deficient lolol
cumsock
10:44
i want a burgerrrrrrrrrr cheesy burger double patty bacon pickles
10:44
i am vitamin d deficient lol
PuppyBot
10:44
no pickles
JumpySubsequentDolphin
10:45
@GreyCeaselessMammoth: I LOVE EGYPTIAN ARABIC IT KILLS ME
JumpySubsequentDolphin
10:45
im palestinian
shaquilleoatmeal
10:45
@lilypadfrog: lmao, i get vo2 testing done at a lab and they offer it so i just do it. Also wtf havent u gotten a physical in so long?!
GreyCeaselessMammoth
10:45
JUMPYYYY we're neighbors!!
cumsock
10:45
what if ur irish and u are pale enough to reflect light does that mean ur deficient
@GreyCeaselessMammoth: i eat mostly whole foods now on my day to day and its the best
PuppyBot
10:45
maybe. i also burn. so i dont get how im deficient
GreyCeaselessMammoth
10:46
well i'm white but my stepdad is egyptian so i've been there a bunch and raised in a multi-gen egyptian household
10:47
Bio Chemistry is odd, some ppl just cannot absorb certain nutrients/vits. Like some calcium deficient ppl actually loose more calcium when they increase intake.
10:48
also some ppl are hyper sensitive to hormones/vit/nutrients.
JumpySubsequentDolphin
10:48
@GreyCeaselessMammoth: love my masris
JumpySubsequentDolphin
10:48
@PuppyBot: I burn bad i don’t get it either
cumsock
10:49
i burn worse
shaquilleoatmeal
10:49
deficiencies are one thing, what scares me the most is if i ever became antibiotic resistant
GreyCeaselessMammoth
10:50
i'm going again to egypt this summer, i think it'll be my last time for a while, at least until after law school
PuppyBot
10:50
i wonder if renard is going to get me that snowglobe from paris
GreyCeaselessMammoth
10:50
@JumpySubsequentDolphin: my cousins wife is palestinian, their wedding was so cool. it was neat learning about the palestinian wedding traditions
PuppyBot
10:50
prob not :/
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