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LSDefine
Simple English definitions for legal terms
common-law specialty
Read a random definition: nation-state
A quick definition of common-law specialty:
A common-law specialty refers to a legal agreement that is made under seal, which means it is signed and witnessed in a formal way. It can also refer to a type of legal document that is written in a specific format and language.
A more thorough explanation:
Definition: Common-law specialty refers to a legal agreement that is made under seal, which means it is signed and witnessed in a formal way. This type of agreement is considered more binding than a regular contract because it has a higher level of formality.
Example: One example of a common-law specialty agreement is a mortgage. When you take out a mortgage to buy a house, the agreement is usually made under seal. This means that the terms of the mortgage are legally binding and cannot be changed without the agreement of both parties.
Explanation: The example of a mortgage illustrates the definition of common-law specialty because it is a legal agreement that is made under seal. The terms of the mortgage are considered more binding than a regular contract because they are signed and witnessed in a formal way. This means that both the borrower and the lender are legally obligated to follow the terms of the agreement.