Precedent - A court decision in an earlier case with facts and legal issues similar to a dispute currently before a court. Judges will generally "follow precedent" - meaning that they use the principles established in earlier cases to decide new cases that have similar facts and raise similar legal issues. A judge will disregard precedent if a party can show that the earlier case was wrongly decided, or that it differed in some significant way from the current case.⏎
Reverse - The act of a court setting aside the decision of a lower court. A reversal is often accompanied by a remand to the lower court for further proceedings.⏎
Preferential debt payment - A debt payment made to a creditor in the 90-day period before a debtor files bankruptcy (or within one year if the creditor was an insider) that gives the creditor more than the creditor would receive in the debtor's chapter 7 case.⏎
Pleadings - Written statements filed with the court that describe a party's legal or factual assertions about the case.⏎
Motion to lift the automatic stay - A request by a creditor to allow the creditor to take action against the debtor or the debtor's property that would otherwise be prohibited by the automatic stay.⏎