First To File Rule

AAA

DEFINITION of 'First To File Rule'

A rule stating that whoever is the first to file suit is awarded their home courts. The first to file rule provides an advantage in that the litigator may be familiar with the judge/court, and will not have to incur any extra costs such as travel expenses, nor leave their home for the duration of the trial. The first to file rule is just a general rule. It is not law, and exceptions can be made.

INVESTOPEDIA EXPLAINS 'First To File Rule'

Often, a change of location can be made as per a request, however, you run the risk of offending the local court as well as impeding on another, perhaps more crowded court. This means that the trial may be put on hold and dealt with in the order it was received by the new court which could be a significant delay.

RELATED TERMS
  1. Common Law Property

    A system used by most states to determine ownership of property ...
  2. Class Action

    An action where an individual represents a group in a court claim. ...
  3. Formal Tax Legislation

    The process by which a proposed tax rule or tax change may become ...
  4. Judgment

    A court order to the loser of a lawsuit to pay the winner a specified ...
  5. Tax Court

    A specialized court of law that hears and adjudicates tax-related ...
  6. Judgment Lien

    A court ruling that gives a creditor the right to take possession ...
Related Articles
  1. Build A Wall Around Your Assets
    Retirement

    Build A Wall Around Your Assets

  2. Don't Get Sued: 5 Tips To Protect Your ...
    Entrepreneurship

    Don't Get Sued: 5 Tips To Protect Your ...

  3. Cover Your Company With Liability Insurance
    Home & Auto

    Cover Your Company With Liability Insurance

  4. A Guide To Risk Warnings And Disclaimers
    Investing Basics

    A Guide To Risk Warnings And Disclaimers

comments powered by Disqus
Hot Definitions
  1. Last In, First Out - LIFO

    An asset-management and valuation method that assumes that assets produced or acquired last are the ones that are used, sold ...
  2. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  3. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  4. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  5. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  6. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
Trading Center