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Most Popular Legal Definitions
salvage
1) to save goods. 2) payment to a person or
group which saves cargo from a shipwreck.
criminal law
body of law that deals with conduct considered so harmful to society as a whole
that it is prohibited by statute, prosecuted and punished by the government
joint tenancy
When two or more people are equal owners of a property
basis
the original cost of an asset to be used to determine the amount of capital gain
tax upon its sale; an "adjusted basis" includes improvements, expenses, and
damages between the time the original basis (price) is established and transfer
of the asset; "stepped up basis" means that the original basis of an asset will
be stepped up to current value at the time of the death of the owner, and thus
keep down capital gain taxes if the beneficiary of the dead person sells the
asset
descendant
person who are born of, or from children of, another are called that person's
descendants
vendor
A seller, particularly of real property.
autopsy
post-mortem evaluation of a deceased body
affiant
person who signs an affidavit and swears to its
truth before a notary public or some person authorized to take oaths, like a
county clerk
abeyance
Temporary inactivity, cessation, or suspension. In law, it is a state or
condition of real property in which the title is not as of yet vested in a known
title holder.
corporation
a legal entity, created under the authority of a statute, which permits a group
of people, as shareholders, to apply to the government for an independent
organization to be created, which then pursues set objectives, and is empowered
with legal rights usually only reserved for individuals, such as to sue and be
sued, own property, hire employees or loan and borrow money