DECREE; EQUITY; CHANCERY, COURT OF.) Under most codes of procedure where the former mate rial variances in practice iu law and equity have been abolished, the term judgment is now gen erally used to designate the final determinations of the courts iu all cases, both in law and equity; but both courts and attorneys constantly use the term decree as a. matter of description in the older and more accurate sense.
Judgments are distinguished front findings (q.v.) of fact or law, in that the latter are only formal expressions of the conclusions of a judge or referee and do not award relief. Judgments are usually entered or docketed in the office of the clerk of the court in which they are rendered. This consists of an entry of a brief description of the judgment, containing time names of the parties, designating the successful party. the date of recovery, the date docketed, and the amount awarded therein. The book in which this entry is made is called the docket of judg ments, and is a public record. accessible for examination by any person who cares to examine it. if an execution is issued, the return of the sheriff, whether it be 'satisfied.' meaning col lected, or settled. or 'nuffa bona' (no goods( or 'unsatisfied,' is entered opposite the description above referred to.
By statute in most jurisdictions a judgment, after being docketed, becomes a lieu on the real property of the judgment debtor. It is subject to all valid prior liens existing at the time it was docketed, but takes precedence over all subsequent liens of any character except those for obligations to the municipal, State. or Fed eral governments, such as taxes and assessments. The public docket gives legal notice of the lien to all persons, just as the record of a mortgage operates. and any intending purchaser who omits to search for judgments against the owner of the property in question does so at his peril, even though he has not actually learned of the judgment. as he is deemed to have constructive
notice of all matters of public record. This lien is usually restricted to the jurisdiction of the particular court in which it is rendered, tmless a transcript or brief description of the judgment is obtained from the clerk and filed in another jurisdiction in the same State, usually another comity, in which case its force is ex tended to that county. The duration of this lien is usually fixed by statute, otherwise it continues as long as the judgment is in force, unless waived by the judgment creditor. (See RELEASE; ACCORD AND SATISFACTION.) In most States by statute there is a legal presumption that a judgment is satisfied after the expiration of twenty years, but usually it is proVided that this may be rebutted by proof to the contrary.
Where a judgment is void or voidable Iecause of lack of jurisdiction of the court, or because of fraud or some irregularity, it may be opened and set aside on motion of the judgment debtor_ Where it is obtained by reason of a default in pleading or appearance, or by mistake of either party, the court may in its discretion vacate it, direct the proper pleadings to he served or filed. and permit the cause to proceed to trial on the merits. This is usually granted on terms, such as payment of costs.
A judgment may be assigned by an instnment in writing. and the assignee will take all the rights and remedies of the judgment creditor. It will also descend as a part of the assets of a deceased owner. l. pot payment of the amount of the judgment and accrued interest. the judg ment debtor is entitled' to a satisfaction piece. See the articles on APPEAL; FINDING; OPINION; HEM HIT; RES .1 UDICAT.k. Consult : Black, The Law of Judgments (2d ed., Saint Paul, 1903) ; Free man, The Law of Judgments ( nth ed., San Fran cisco. IS92).