Declaratory judgment - A judge's statement about someone's rights. For example, a plaintiff may seek a declaratory judgment that a particular statute, as written, violates some constitutional right.⏎
Equity - The value of a debtor's interest in property that remains after liens and other creditors' interests are considered. (Example: If a house valued at $60,000 is subject to a $30,000 mortgage, there is $30,000 of equity.)⏎
Collateral - Property that is promised as security for the satisfaction of a debt.⏎
Class action - A lawsuit in which one or more members of a large group, or class, of individuals or other entities sue on behalf of the entire class. The district court must find that the claims of the class members contain questions of law or fact in common before the lawsuit can proceed as a class action.⏎
Dismissal with prejudice - Court action that prevents an identical lawsuit from being filed later.⏎