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Most Popular Legal Definitions
bucket shop
an unofficial and usually illegal betting operation in which the prices of
stocks and commodities are posted and the customers bet on the rise and fall of
prices without actually buying stock, commodities, or commodity failures
disbar
to revoke an attorney's right to practice law due to some malfeasance
merger
in corporate law, the joining together of two corporations.
chambers
The private office of a judge, usually close to the courtroom so that the judge
can enter the court from behind the bench and not encounter people on the way.
discretionary trust
A trust in which the settlor has given the trustee full discretion to decide
which (and when) members of a group of beneficiaries is to receive either the
income or the capital of the trust.
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.
allege
to claim that a fact is true
examination for discovery
An oral examination under oath
booby trap
A device set up to be triggered to harm or kill anyone entering the trap, such
as a shotgun which will go off if a room is entered, or dynamite which will
explode if the ignition key on an auto is turned. If a person sets up such a
trap to protect his/her property, he/she will be liable for any injury or death
even to an unwanted intruder such as a burglar. Setting a booby trap to even
protect one's property is a crime.
bad debt
an non-collectible debt