Law Lexicon
Unliquidated debt - Remaining not determined; unassessed or unsettled; in dispute as to the proper amount.
Unsecured debts - In bankruptcy, debts such as open accounts at department stores for which the debtor has not pledged collateral to guarantee payment.
Usury - Extraction of interest on a loan above the maximum rate permitted by statute.
Vacate - To set aside.
Venire - A writ summoning persons to court to act as jurors.
Venue - Authority of a court to hear a matter based on geographical location.
Verdict - A conclusion, as to fact or law, that forms the basis for the court's judgment.
Veterans' Administration (VA) - The federal agency which administers a system of benefits for veterans and their dependents.
Visa - An official endorsement on a document or passport denoting that the bearer may proceed.
Void - Invalid; a void agreement is one for which there is no remedy.
Voidable - Capable of being declared invalid; a voidable contract is one where a person may avoid his obligation, as a contract between an adult and a minor.
Voir dire - The preliminary examination made in court of a witness or juror to determine his competency or interest in a matter. Literally, to speak the truth.
Voluntary bankruptcy - A proceeding by which a debtor voluntarily asks for a discharge of his debts under the Bankruptcy Code.
Source: Jurist International.
