What Constitutes Legal Fiction

In Act II, scene 1 of Gilbert and Sullivan`s Gondoliers, Giuseppe Palmieri (who serves as king of Barataria with his brother Marco) asks that he and his brother be recognized individually so that they can each receive individual portions of food, because they have «two independent appetites». However, it is rejected by the court […]

Define Subordination Agreement

A subordination agreement is a legal document that outlines the priority of liens on a property. Essentially, it is an agreement between two or more parties that establishes the order in which their claims will be paid in the event of a foreclosure. In the context of real estate, a subordination agreement typically arises […]