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Most Popular Legal Definitions
minor
A young person not yet of the age of majority; someone under legal age.
loss of consortium
the inability of one's spouse to have normal marital relations, which is a
euphemism for sexual intercourse.
probation
A punishment given out as part of a sentence
which means that instead of jailing a person convicted of a crime, a judge will
order that the person reports to a probation officer regularly.
supplemental
referring to anything that is added to complete
something.
caveat emptor
Latin for "let the buyer beware." The basic premise that the buyer buys at
his/her own risk and therefore should examine and test a product himself/herself
for obvious defects and imperfections.
liquidation
The selling of all the assets of a debtor and the use of the cash to pay off
creditors.
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
force majuere
French for an act of God; an inevitable,
unpredictable act of nature.
ratification
the act of approving or accepting an act
performed by another, applicable to both to individual actions and measures
proposed by an individual
amended complaint
what results when the party suing changes the complaint they filed; complaints
are amended to correct facts, add new causes of action, substitute discovered
names for persons sued as "J. Does" or to properly plead a cause of action after
the court found the initial complaint inadequate