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A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

JACK RAFTER - short rafter, used in a hip roof or valley roof, or to simulate a rafter which extends beyond the exterior walls.

JACOB'S LADDER - hanging ladder, made with wooden steps and sides of rope.

JALOUSIES - Fixed or adjustable horizontal slats, used in doors, windows, shutters, etc., to keep out sun and rain, while letting in light and air.

JAMB - vertical lining of an opening, such as a doorway, fireplace, window, etc.

JANITOR - One who is hired to take care of a building. Generally associated with cleaning, locking up after closing, and minor repair.

JERRY-BUILT - structure built of inferior and inexpensive materials. Poorly built.

JETTY - (1) pier or other structure (usually of stones), built out into a body of water to hinder the currents and so protect a harbor. (2) A part of a building which projects out beyond the exterior walls, such as an overhanging second story, a balcony, etc.

JOINDER - Joining together in some legal proceeding.

JOINT - (1) Meaning two or more, such as joint tenants, joint adventurers, etc. (2) The point of union or connection of two members, whether pipes, boards, or other members.

JOINT ADVENTURE - combining by two or more persons of their property, skill, efforts, etc., for a specific business purpose. Single purpose partnerships are now most commonly used and are based on the same idea of the single purpose business venture.

JOINT AND SEVERAL LIABILITY - Allowing the plaintiff to sue one defendant (sever that one from the others) for the entire amount of damages, as well as the ability to sue more than one or all defendants (joint).

JOINT APPRAISAL - appraisal by more than one appraiser, but one which states common conclusions of all.

JOINT ESTATE - Also See: Joint Tenancy.

JOINT NOTE - promise to pay, executed by two or more persons, each having equal liability. See also: Surety.

JOINT OWNERSHIP - Property owned by more than one person or entity.

JOINT PROTECTION POLICY - policy of title insurance which insures both the owner and the lender under the same policy.

JOINT TENANCY - undivided interest in property, taken by two or more joint tenants. The interests must be equal, accuring under the same conveyance, and beginning at the same time. Upon the death of a joint tenant, the interest passes to the surviving joint tenants, rather than to the heirs of the deceased.

JOINT TENANTS - Those holding under joint tenancy. See also: Joint Tenancy.

JOINT VENTURE - Also See: Joint Adventure.

JOINTURE - life estate for a wife which takes effect upon the death of her husband. Takes the place of dower, but must be agreed to by the wife and is not an automatic right such as dower.

JOISTS - Small beams, usually not more than five inches thick, which are in parallel and support floors and ceilings. The joists are supported by larger beams, bearing walls, girders, etc. A joist is rectangular in cross-section, the narrow face being the joist, the wide face the plank.

JUDGEMENT CREDITOR - person, corporation, etc., that has been awarded a money judgement by a court. Recording and abstract of said judgement will create a lien on real property owned by the judgement debtor in the county where the abstract is recorded.

JUDGEMENT DEBTOR - person, corporation etc., against whom a money judgement has been awarded by a court. Also See: Judgement Creditor.

JUDGMENT (JUDGEMENT) - decision of a court of law. Money judgments, when recorded, become a lien on real property of the defendant.

JUDGMENT LIEN - lien against the property of a judgment debtor. An involuntary lien.

JUDGMENT PROOF - One against whom a judgment creditor cannot collect (no assets). If one can show he was defrauded by a "judgment proof" real estate licensee, he may recover from the state fund in states having such a fund.

JUDICIAL FORECLOSURE - Foreclosure through court action rather than by a power of sale. Judicial foreclosure is sometimes necessary to remove certain tax liens.

JUDICIAL SALE - sale made under court order, by one court appointed, rather than a voluntary sale by the owner, or one appointed by the owner.

JUMBO LOAN - loan greater than the amount allowable for purchase by a federal agency.

JUMBO VA LOAN - loan for an amount greater than the allowable 100% financed amount. It is determined by subtracting the maximum allowable 100% financed amount from the purchase price and financing 75% of the difference. Example: maximum allowable VA Loan - $110,000. Sale price - $130,000. Difference is $20,000;75% of the difference is $15,000. Total jumbo loan - $110,000 plus $15,000=$125,000. Required down payment - $5000.

JUNCTION BOX - metal box used to enclose the meeting (junction) of electrical circuits, wires, and cables.

JUNIOR LIEN - lien which is subordinate to a prior lien.

JUNIOR MORTGAGE - Any mortgage of lesser priority than a first mortgage.

JUNK VALUE - Also See: Salvage Value.

JURAT - (1) certificate of an officer before whom a writing was sworn to, such as a notary public. (2) That part of an affidavit stating where, when, and before whom, the affidavit was sworn.

JURISDICTION - extent of the authority of a court, or other governmental branch or agency.

JUST COMPENSATION - In condemnation the amount paid to the property owner. The theory is that in order to be "just", the property owner should be no richer or poorer than before the taking.

Whatever your financing needs,
we will tailor a loan that's right for you.

 
 
 


Daily Oil & Gas and Wall Street Journal News
2/16/20

Oil Posts Weekly Gain
Posted on Thursday February 13, 2020

Investor confidence was lifted after China reassured the international community that a huge spike in new coronavirus cases was a one-off event.

Tullow Gets Green Light on Gas-Flaring Request
Posted on Thursday February 13, 2020

The permission will assist heavily indebted Tullow to support production in its offshore fields.

Pemex Ex-CEO Arrest Puts AMLO in Delicate Situation
Posted on Thursday February 13, 2020

The arrest of a former top government official is a breakthrough for Mexico's crackdown against corruption, but it puts President Andres Manuel Lopez Obrador in a delicate spot.

Oil to Flow Again from Saudi-Kuwait Neutral Zone
Posted on Thursday February 13, 2020

Kuwait and Saudi Arabia will resume oil production from their shared fields this month, more than five years after a dispute halted supply.

Asian Traders Get Surprise from Chinese Teapots
Posted on Thursday February 13, 2020

A sudden oil buying spree by China's independent "teapot" refiners has taken Asian traders by surprise.

Coronavirus Could Test Oil Players' Risk and Compliance Plans
Posted on Thursday February 13, 2020

The global coronavirus outbreak could put heightened risk management and compliance plans to the test.

Oil Climbs on Easing Coronavirus Concerns
Posted on Wednesday February 12, 2020

The World Heath Organization rekindled optimism that the coronavirus outbreak could be abating.

Global Oversupply Equals a Tough Year for LNG Exporters
Posted on Thursday February 13, 2020

Demand is insufficient to absorb rising global supplies of this super-cold fossil fuel.

Marathon Cuts 2020 Capital Budget by 11 Percent
Posted on Thursday February 13, 2020

The company's low organic free cash flow breakeven of $47 per barrel will be key in 2020.

Noble Energy Shaves $560MM From CAPEX Budget
Posted on Thursday February 13, 2020

The company is prioritizing free cash flow generation over US onshore growth in 2020.

Wall Street Journal
Commercial News

2/16/20

WSJ.com: US Business

Alstom Reaches Preliminary Deal to Buy Bombardier Train Unit
French train giant Alstom SA has reached a preliminary deal to acquire Bombardier Inc.?s train business for more that $7 billion.

New York Won't Appeal T-Mobile Merger Verdict
New York Attorney General Letitia James said the state won?t appeal a federal judge?s decision to allow T-Mobile US and Sprint to merge, removing another hurdle between the cellphone carriers and their long-planned combination.

SoftBank's Boss Bet $22 Billion on Sprint. It Was a Slog.
For Japanese billionaire Masayoshi Son, a U.S. judge?s recent approval of a merger between Sprint and T-Mobile is long-awaited payback on his $22 billion investment. But it is far from the triumph he sought when he announced he was taking control of Sprint in 2012.

British Airways' Operating Chief and Its Director of People to Leave Carrier
British Airways? chief operating officer and its director of people are leaving the carrier after last year?s tense standoff with pilots, which led to the airline?s first strike in decades

The Ride-Hail Utopia That Got Stuck in Traffic
Uber and Lyft said they would ease congestion. Instead they made it worse.

How High Should Government Debt Go? Economists Can't Agree
Economists warned a decade ago that pushing public debt above about 90% of gross domestic product could hurt growth. Now they aren?t so sure.

New Source of Climate Pressure for Companies: Workers
Investors and customers aren?t the only ones pressuring big companies to address climate change?employees are joining in too.

BRE #:00619059
Charles Elfsten, President
Charles A. Elfsten
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