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LSDefine
Simple English definitions for legal terms
stayor
Read a random definition: pure trademark
A quick definition of stayor:
STAYOR: A stayor is a person who promises to pay a debt if the original debtor cannot. In Tennessee, a stayor is specifically a surety for a judgment. This means that if someone owes money to another person and is taken to court, a stayor can promise to pay the debt if the original debtor cannot. It is a rare term used in Tennessee law.
A more thorough explanation:
Definition: STAYOR is a legal term used in Tennessee law. It refers to a person who acts as a surety for a judgment.
Example: If a person is ordered by a court to pay a certain amount of money to another person, but they are unable to pay, they may ask someone to act as a STAYOR. The STAYOR would then be responsible for paying the amount owed if the original person cannot.
Explanation: The example illustrates how a STAYOR can be used in a legal situation. It shows that a STAYOR is someone who agrees to take on the financial responsibility of a judgment if the original person cannot pay. This can be helpful for someone who is unable to pay a judgment on their own, but has someone willing to help them out.