Business, Legal & Accounting Glossary
n. the winner in a lawsuit.
Many contracts, leases, mortgages, deeds of trust or promissory notes provide that the “prevailing party” shall be entitled to recovery of attorney’s fees and costs if legal action must be taken to enforce the agreement. Even if the plaintiff gets much less than the claim, he/she/it is the prevailing party entitled to include attorney’s fees in the collectable costs. Usually, there is no prevailing party when a complaint is voluntarily dismissed prior to trial or settled before or after trial has begun.
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This glossary post was last updated: 30th April, 2020 | 0 Views.