Addendum
an addition to a completed written document, most commonly a proposed change or
explanation in a contract, or some point that has been the subject of
negotiation after the contract was originally proposed by one party
Adeem
to revoke a gift made in a will by destroying, selling or giving away the gift
item during the lifetime of the testator, for example; a person writes in their
will "I will leave my son my 1968 Mustang," but then dad totals or sells the
car--Saying, "I give my son my family car," would be better language.
Ademption
revoking a gift mentioned in a will by destruction, or selling or giving away
the gift before death
Adequate Remedy
a remedy (money or performance) awarded by a court or through private action
which afford "complete" satisfaction, and is "practical, efficient and
appropriate" in the circumstances
Adhesion Contract
A contract so imbalanced in favor of one party over the other that there is a
strong implication it was not freely bargained. (For example, a poor tenant
cannot afford to move out and the landlord places extreme stipulations on
allowing him to live there.)
Adjourn
to close a meeting, convention, or any official gathering; not to be confused
with a recess, meaning the meeting will break and continue at a later time.
Adjudication
1. the act of giving a judicial ruling such as a judgment or decree 2. order
declaring a debtor bankrupt is called an adjudication in bankruptcy proceedings
3. when land satisfies a debt or is given additional security
Adjusted Basis
the original cost of an asset adjusted for costs of improvements, depreciation,
damage, and other events which may have affected its value during the period of
ownership; this is important in calculating capital gains for income tax
purposes since the adjusted basis is generally higher than the original price
and will lower capital gains taxes
Adjuster
employee of an insurance company or an adjustment firm employed by an insurance
company to negotiate an early settlement of a claim for damages against a
person, a business or public body. While a fair and responsible adjuster can
serve a real purpose in getting information and evaluating the case for the
insurance company, some adjusters try to make a settlement before the injured
person has retained an attorney, or get a statement from the injured without
counsel. Adjusters also represent the company in approving settlements.
Administer
1) To conduct the duties of a job or position 2) To manage the affairs of the
estate of a person who has died under supervision of the local court 3) To give
an oath, as in "administer the oath"