Law Day

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Law Day

The date prescribed in a bond, mortgage, or deed for payment of the debt; the maturity date. May 1st, observed in schools, public assemblies, and courts, in honor of our legal system.

In regard to real property, the law day is the final date fixed by the court on which the debtor can pay off the mortgage debt, redeem the real estate, and prevent it from being sold after foreclosure proceedings are commenced.

The definition of law day, also known as law date, varies from jurisdiction to jurisdiction. Some states define law day as the actual due date of the mortgage or any day thereafter until foreclosure, while others view the date of foreclosure and law day as synonymous. In some jurisdictions, the day fixed in the contract for the closing of title is the law day.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The Ask A Lawyer free legal advice project is one of several events in which Oklahoma lawyers participate to observe Law Day. This year, more than 1,050 Oklahoma students entered the Law Day Art and Writing Contest.
On May 1, we celebrate Law Day. Law Day is a special day aimed to help people appreciate their liberties and to affirm their loyalty to the United States, with a special focus on equality and justice.
Also known as National Law Day, the Samvidhan Divas or Constitution Day is celebrated every year on November 26 to commemorate the adoption of the Constitution of India.
The 19th Judicial Circuit Court presents Senior Law Day from 1 to 3 p.m.
21, the infamous martial law day) so that we would not forget the lessons of history,' said CB Garrucho, president of the Philippine Educational Theater Association (Peta).
He also sits on the Law Day Committee and the Public Speakers & Awareness Committee with the BCBA, as well as the Consumer Credit and Financial Institutions Committee with the MD State Bar Association.
Louis issued a call for more of the organization's members to take up pro bono cases for Saint Louisans in need of their services.<br />"This organization is a sleeping giant," said John Simon of The Simon Law Firm near the close of BAMSL's annual Law Day luncheon on May 2 at the Ritz-Carlton, St.
more time before a law day or sale date allows homeowners to negotiate
JUSTICE BARBARA PARIENTE, right, and Annette Boyd Pitts of the Florida Law Related Education Association, created a webinar to promote Law Day and train lawyers and judges on how to make a Benchmarks or Informed Voters Project presentation about the separation of powers.
Delivering the valedictory address on the conclusion of the two-day meet on the National Law Day jointly organised by the Law Commission of India and the NITI Aayog, he said that balance between the three was the"backbone"of the country's Constitution.
New Delhi: A Union Minister and Chief Justice of India on Saturday crossed swords over judicial activism at a conference on the occasion of National Law Day with CJI Dipak Misra saying it was their sacrosanct duty to protect the fundamental rights of the citizens.