SUBROGATION
\sˌʌbɹəɡˈe͡ɪʃən], \sˌʌbɹəɡˈeɪʃən], \s_ˌʌ_b_ɹ_ə_ɡ_ˈeɪ_ʃ_ə_n]\
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A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.
By Oddity Software
Word of the day
savings and loan
- thrift institution that is required by law to make a certain percentage of its loans as home mortgages