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Most Popular Legal Definitions
puisne
Junior or lower in rank.
defense
the establishment of a case or position in opposition to allegations or
attacks
fiduciary
A legal duty of loyalty and faithfulness towards
another.
decedent
an individual who has died
common law
judge-declared law; law which exists and applies to a group on the basis of
customs and legal precedents developed over hundreds of years in Britain
redemption
Buying back.
controlled substance
a drug or other entity whose usage is governed by law
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
bribery
the crime of giving or taking money or some other valuable item in order to
influence a person, usually a public official, in the performance of their
duties
uninsured motorist clause
The clause in a policy of insurance on an automobile which provides that if the
owner of the automobile is injured by a negligent driver of another vehicle who
does not have liability insurance.