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Most Popular Legal Definitions
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
child support
A court ordered mandate for funds to be paid by one parent to the custodial
parent of a minor child after divorce.
administrative law judge
professional hearing officer who works for the government to preside over
hearings and appeals involving governmental agencies; generally experienced in
the particular subject matter of the agency
suicide
The intentional killing of oneself.
said
A reference back to a thing that was previously mentioned
adoption
the taking of a child into one's family, creating a parent to child
relationship, and giving him or her all the rights and privileges of one's own
child
cestui que use
An old fashioned term for a person who benefits from assets held in a trust for
the beneficiary's use. The term "beneficiary" is now used instead.
self-defense defense
a type of defense in a criminal proceeding that attempts to justify someone's
use of force as necessary to protect themselves or another
Inchmaree Clause
A standard clause in maritime insurance contracts covering risks of events not
directly related to perils at sea such as loading accidents.
after-acquired title
title to property acquired after the owner attempts to sell or or transfer the
title to another person before they actually got legal title; when the title is
acquired by the seller in this paper shuffle, title automatically goes to the
person to whom it was sold, passing through the person who acquired the title on
it's way to the buyer