Business, Legal & Accounting Glossary
n. the provision in Article IV, Section 1 of the U.S. Constitution which states: “Full faith and credit shall be given in each State to the public acts, records and judicial proceedings of every other state.” Thus, a judgment in a lawsuit or a criminal conviction rendered in one state shall be recognized and enforced in any other state, so long as the original judgment was reached by due process of law. Each state has a process for obtaining an enforceable judgment based on a “foreign” (out-of-state) judgment.
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This glossary post was last updated: 28th April, 2020 | 0 Views.