Statute


Definition of "Statute"

Legislative written decree (rule) stipulating prescribed action and conduct designed to be in the public's best interest. Laws may cover civil and criminal matters.

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Popular Real Estate Terms

Ultra Vires

Action that is beyond that allowed legally. Examples are charging illegally high interest rate on mortgages and real estate exceeding the amount per ...

RESPA

The Real Estate Settlement Procedures Act, a federal consumer protection statute first enacted in 1974. RESPA was designed to protect home purchasers ...

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Federal law comparable to state workers compensation statutes setting out liability of railroads for work-related injuries or death of their employees ...

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