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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