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Most Popular Legal Definitions
benefit
1) any profit or acquired right or privilege, primarily through a contract 2) in
worker's compensation the term "benefit" is the insurance payment resulting from
a fatal accident on the job, while "compensation" is for injury without death 3)
In income taxation, anything that brings economic gain
death duties
tax payments due to the state, incurred and
payable as a result of the death of the tax-payer
passport
an official document issued by a citizen's respective country used to show
citizenship and provide other pertinent information
consideration
Some right, interest, profit, or benefit accruing to the one party of a
contract, or some forbearance, detriment, loss or responsibility given, suffered
or undertaken by the other.
international law
A combination of treaties and customs which regulates the conduct of states
amongst themselves, and persons who trade or have legal relationships which
involve the jurisdiction of more than one site.
executive branch
The administrative arm of government
estate
1) a term that commonly relates to the total sum of assets controlled by a
single person, usually determined for the purposes of a will or inheritance
after an individual dies 2) can also refer to someone's ownership or right of a
specific property
ad valorem
Latin for "based on value," which generally applies to property taxes based on a
percentage of the county's assessment of the property's value.
constructive total loss
Insured property that has been abandoned because its actual total loss appears
to be unavoidable, or because it could not be preserved or repaired without an
expenditure which would exceed its value.
grand jury
An American criminal justice system procedure
wherein a group of 16-23 citizens hold an inquiry on criminal complaints brought
by the prosecutor in order to decide if a trial is
warranted.