14:16
@llama: back when 160s meant t14
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LSDefine
Simple English definitions for legal terms
exoneration
Read a random definition: verba jactantia
A quick definition of exoneration:
Exoneration means to remove a burden or responsibility from someone. It can also refer to the right to be reimbursed for paying money that someone else should have paid. For example, if a person guarantees a loan for someone else and that person doesn't pay it back, the guarantor may have the right to make the borrower pay instead. In some cases, when a person leaves property to someone else that has a mortgage or lien on it, the doctrine of exoneration can be used to pay off the debt from the general assets of the estate.
A more thorough explanation:
Definition: Exoneration means to remove a burden, charge, responsibility, or duty. It can also refer to the right to be reimbursed for paying money that someone else should have paid. Additionally, it is the equitable right of a surety to compel the principal debtor to satisfy an obligation.
- If a testator leaves a gift of property that has a mortgage or lien, the doctrine of exoneration operates to satisfy the encumbrance from the general assets of the estate.
- A surety has the right of exoneration, which means they can compel the principal debtor to satisfy the obligation, even if the surety has the right of reimbursement.
These examples illustrate how exoneration works in different situations. In the first example, if someone leaves a property as a gift, but it has a mortgage or lien, the doctrine of exoneration ensures that the encumbrance is paid from the estate's assets, rather than burdening the recipient of the gift. In the second example, a surety has the right to compel the principal debtor to satisfy the obligation, even if the surety has the right of reimbursement. This ensures that the surety is not unfairly burdened with the responsibility of fulfilling the obligation.