Also known as:remits · remitted · remitting · remittance · remittances · remittee · remittees · remittor · remittors · payment transfer · funds forwarding
Written by attorneys · grounded in primary & secondary sources — see below
2 senses
1
To transmit money or other property from one party to another. The transmission satisfies an underlying obligation or duty and must follow any required form such as a signed writing or prompt delivery.
2
Sense 1
1
Sense 1
To transmit money or other property from one party to another. The transmission satisfies an underlying obligation or duty and must follow any required form such as a signed writing or prompt delivery.
Sources & Authorities· 3 primary sources
Select any source to read its text and confirm it supports the definition.
Uniform Acts
Sense 2
2
Sense 2
To release a party from a penalty, forfeiture, or judgment in whole or in part. The release occurs after entry of the obligation and follows conditions set by rule or statute.
Sources & Authorities· 2 sources
Select any source to read its text and confirm it supports the definition.
To release a party from a penalty, forfeiture, or judgment in whole or in part. The release occurs after entry of the obligation and follows conditions set by rule or statute.
Each sense below has its own examples, sources, and questions.
Model Codes
Examples3
Contingent Fee Remittance Statement
Rosa Ruiz hired Redwood Bank as counsel in a contract dispute under a written contingent-fee agreement. After settlement, the bank prepared the required closing statement and sent the net recovery to Rosa. The transmission fulfilled the bank's duty to account for the fee calculation and expenses.
Derivative Suit Proceeds Transfer
Roger Ramirez, a member of Rising Sun Electronics, brought a derivative action on the LLC's behalf and recovered damages. Upon receipt of the judgment proceeds, Roger immediately forwarded the entire sum to the company as required. The transfer prevented any personal retention of the recovery.
Limited Partnership Recovery Forwarding
Rowan Russell, a limited partner in Royal Crest Hotels, obtained a settlement in a derivative action. Rowan promptly sent the full settlement amount to the partnership rather than retaining any portion. The forwarding preserved the partnership's exclusive right to the proceeds.
Frequently Asked3
What must a contingent-fee agreement state about remittance to the client?+
The agreement must require the lawyer to provide a written statement at the conclusion of the matter showing the outcome and, if recovery occurs, the remittance to the client and the method used to calculate it.
Supporting sources
In a successful derivative action, where do the proceeds belong?+
The proceeds belong to the limited liability company or limited partnership, not the plaintiff, and the plaintiff must immediately forward any received proceeds to the entity.
Supporting sources
What duty does an agent owe regarding funds received for the principal?+
The agent must use care to keep the funds safely until remitted or delivered to the principal and must deliver them upon demand once the amount due is ascertained.
Supporting sources
3
Federal Claim Referred to State Court
Robert Rivera sued federal agents in federal court after an alleged unlawful search. The court declined to hear the state-law claims and directed Robert to pursue them in state court. The referral allowed the state forum to address the remaining issues.
Bivens v. Six Unknown Named Agents of the Federal Bureau of Narcotics403 U.S. 388, 91 S.Ct. 1999, 29 L.Ed.2d 619 (1971)
Trust Income Sent to Beneficiary
Rina Rahman served as trustee of a Delaware trust whose beneficiary later moved to Florida. Each quarter Rina forwarded the trust income directly to the beneficiary's Florida address. The regular transmissions maintained the trust's administration under the governing instrument.
Hanson v. Denckla357 U.S. 235, 254 (1958)
Intervenor Directed to State Proceedings
Ricardo Rojas intervened in a federal constitutional challenge but faced dismissal of his federal claims. The court directed him to raise his defenses in the parallel state criminal case. The referral preserved the state forum's primary role in adjudicating those issues.
Roe v. Wade410 U.S. 113 (1973)
Frequently Asked1
When may a court remit a bail forfeiture judgment?+
After entering judgment on forfeiture, the court may remit the judgment in whole or in part under the conditions specified for setting aside forfeiture.
Supporting sources
410 U.S. 113 (1973)Constitutional Law
…District Court decision in this case. Dr. Hallford's complaint in intervention, therefore, is to be dismissed.[^maj-7] He is remitted to his defenses in the state criminal proceedings against him. We reverse the judgment of the District Court insofar as it granted Dr. Hallford relief and failed to dismiss his complaint in…