First To File Rule

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.

BREAKING DOWN '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. Tax Court

    A specialized court of law that hears and adjudicates tax-related ...
  2. American Rule

    A rule in law and economics that says attorney fees should be ...
  3. Appellate Courts

    The part of the judicial system that is responsible for hearing ...
  4. 500 Investor Rule

    A SEC stipulation requiring a company that exceeds 500 individual ...
  5. Bankruptcy Court

    What is bankruptcy court?
  6. Appeal Bond

    An amount of money placed in holding while the appeal is being ...
Related Articles
  1. Personal Finance

    Tax Court: Your Last Resort

    Appealing an unfavorable or unfair tax ruling may be your last chance to save your finances.
  2. Markets

    Understanding The Top SEC filing forms

    It's easier than ever to keep track of your SEC filing status online.
  3. Retirement

    Top Reasons to File Separately When Married

    Usually couples file their taxes jointly, not separately. Except for these possible exceptions...
  4. Personal Finance

    Should You File An Early Tax Return?

    When it comes to filing your taxes, it can often pay to wait until the deadline.
  5. Retirement

    Should You File For Bankruptcy?

    Find out how to determine whether this option will help or hurt your financial situation.
  6. Personal Finance

    Financial Information Your Spouse Should Know

    Your family needs to be prepared if something happens to you, which is why sharing financial information is important.
  7. Investing

    Saving On Bankruptcy Costs

    Going bankrupt is awful enough without worrying about ways to pay for it. Here's how to save on lawyers, filing fees and other inevitable costs.
  8. Managing Wealth

    Litigation: Are Your Investments At Risk?

    Don't let company lawsuits hit you unprepared. Learn how to uncover how they might affect you.
  9. Personal Finance

    The Court Cases That Have Shaped US Sales Tax Law: How They Apply Today

    Explore two Supreme Court cases that established legal precedent for the treatment and apportionment of sales taxes at the state level.
  10. Trading

    The Uptick Rule Debate

    This rule was deemed ineffective and repealed in 2007, but critics argue it protects the market from bear raids.
RELATED FAQS
  1. Do we have to file taxes?

    Our only income is social security and a very small pension amount. We were told by our accountant that we did not need to ... Read Answer >>
  2. Can I file single if I am legally married but have not lived with spouse for two ...

  3. I made $2,700 last year. Do I need to file taxes if my job did not take taxes out ...

    I am married and filing separately. My job, despite my W4 being correct, did not take any taxes out of... Read Answer >>
  4. Am I eligible to file a federal tax return receiving social security disability & ...

  5. What credits/deductions should I choose?

    My fiance and I had our first daughter in November of last year in Utah. She only worked a month. I think she made a total ... Read Answer >>
  6. Does everyone have to file a federal tax return?

    This may come as a surprise to many individuals, but not everyone needs to file a federal tax return. According to the IRS, ... Read Answer >>
Hot Definitions
  1. Glass-Steagall Act

    An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
  2. Quantitative Trading

    Trading strategies based on quantitative analysis which rely on mathematical computations and number crunching to identify ...
  3. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  4. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  5. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  6. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
Trading Center