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FROOGLE GLOSSARY

Common Terms that are Relevant to Finance & Insurance
All-in-One
A
TermShort Definition
A Fortioriwith stronger reason (a second fact is supported by a conclusory fact)
Ab Initiofrom the beginning (usually in the context of clerk default)
Abatementa pause (or a reduction) in a proceeding
Abeyancean incomplete state of affairs (compare with abatement)
Abjureto retract/recant/nullify (see nugatory; vitiate)
Abridgeto obstruct/interfere-with (eg, abridge a constitutional right)
Abrogateto cancel/repeal (usually in the context of legislation)
Abuse of Discretionto make arbitrary/unreasonable rulings; reversible on appeal
Abuse of Processcommitting a legal act with an ulterior motive (see frivolous)
Accelerationthe hastening of time to conclude a matter
Acceleration Clauseprovision that vests something earlier than originally slated
Accounta detailed statement of debits and credits
Accounting Methodway of calculating a business' finances
Accounts Payablemoney that you currently owe
Accounts Receivablemoney that people currently owe you
Accredited Investorpeople who can buy securities outside of generic regulations
Accretionadding something by virtue of someone else's abstinence/subtraction
Accrueto increase in value
Acquireto obtain
Actiona judicial proceeding
Actuarya professional who calculates risks/finances
Ad HocLat.: for this special purpose (connotes immediacy)
Ad Valoremaccording to value (in the context of property taxes)
Adjudicationthe legal determination of a claim/case/controversy
Adjusted Gross Incomerevenues minus expenses
Adjusteran employee who determines an insurance claim payout
Administrative Agencya governmental/regulatory body that oversees a set of laws
Administrative Law Judgethe hearing officer who makes findings of fact regarding executive action
Admissible Evidenceinformation that a Court can use in its adjudication
Adverse Inferencewhatever you're hiding must be good/incriminating
Advocatesomeone who provides legal assistance to a party
Affiantthe author of an affidavit
Affidavita sworn written statement under oath
Affirmationa sworn acknowledgment of truth (subject to penalties of perjury)
Age of Majorityage that the authorities will recognize your specific legal rights
Agentsomeone who represents another entity (consider with master-servant)
Agreementassent between multiple parties
Alienationvoluntary transfer of title/possession to another person
Allegationan assertion of fact that the issuing party intends to prove
Alt. Dispute Resolutionvarious ways to conclude a suit without trial (eg arbitration; mediation; etc.)
Alter Egoerecting a corporation to conceal your personal actions
Amendalter/update (eg amend a pleading)
Amicusa friend of the court (sort of like an interpleader)
Ancillary Jurisdictionauthority over an auxiliary claim even if that claim wasn't explicitly stated
Annual Reportfinancial statement that dislcoses a companies activities
Annuitantthe person who receives an annuity (ie, regular financial payments from an investment)
Annuityregular financial payments – from an investment
Answerthe defendant's response to the plaintiff's complaint
AntiLapse Statutelaws that allow an heir's heir to receive his/her inheritance upon the heir's premature death
AntiTrust Lawslaws that promote free competition/trade by combatting monopolies/collusion/etc.
Apparent Authoritypresumed authority (consider with principal)
Appeala request to a higher court to review the decision of a lower court
Appearanceshowing up in court to prosecute/defend an action
Appellantthe person who filed the appeal
Appellatea court that handles appeals
Appelleethe appellant's opponent
Appointment of Receiverjudicial act that names a person/entity to finalize an insolvency
Apportionto divide funds fairly/proportionately
Appraisal Rightslaws that give minority stockholders recourse upon extraordinary acts [of the corporation]
Appraiseto asses/estimate
Appreciateto increase in value
Appropriateto allocate funds (typically in a corporate/government context)
Appropriationthe allocation of funds (for public/private use)
Appurtenantan attachment to some other property
Arbiterthe person who conducts the arbitration hearing; needs court's confirmation
Arbitragerisk-free profit derived from investing
Arbitrationa method of alternative dispute resolution which does not require trial
Arbitratorthe person who conducts the arbitration hearing; decision is final
Argumentpersuasive legal presentation
Arm's Lengthstate of affairs between unrelated parties
Arrearsoverdue payment
Articles of Incorporationpaperwork that certifies the existence of a company
Artificial Persona corporation (also see alter ego)
ASEthe american stock exchange (where securities get traded)
Assessevaluate
Assessment of Deficiencythe tax that the government has determined that you have failed to pay
Assetan item that is a monetary value
Assignowned items that have a positive monetary value
Assigned Riskperilous drivers whom the government has assigned to certain insurers
Assignmenttransfering someone's rights/properties to another person
Assignment of Incomea taxpayer directing that his/her income be paid to another person
Assignsthe people who will receive the inheritance (also see issues; beneficiaries)
Assumption of Riskan employee's informed consent to the perils of his/her job
Attorney Generalthe top cop
Attorney-Client Privilegeconfidentiality applied when someone consults with a lawyer (see privilege)
Auditto double-check/review a company's finances
Audit of Returnan IRS Agent's review of a taxpayer's tax return
Auditorthe person who reviews a company's finances
Authoritythe power to govern over someone/something
Avoidance of Taxa legal method of reducing tax liability
Awardthe relief/remedy granted by an arbiter
TermShort Definition
Bad Checka check that is founded on insufficient funds
Bad Debta debt that cannot be collected
Bad Debt Reservea savings vehicle that mimics the amount of unfulfilled debts that a company accrues
Bad Faithunderhanded/dishonest/defiant conduct (see misconduct, perjury, sanction)
Bad Titlea title that is legally insufficient to convey property
Badges of Fraudsigns that financial deception is at play
Bailiffthe courtroom assistant (the one who typically dresses like a cop)
Bailmentdelivering personal property to be held in trust
Balloon Notefinancial instrument that experiences a sudden increase (in payment)
Bankfinancial institution that stores people's money
Banker's Liena bank's prerogative to appropriate a customer's deposits towards a customer's debts
Bankruptinability to satisfy one's debt obligations
Bankruptcyinsolvency
Bankruptcy Courta federal trial court that is devoted to adjudicate bankruptcy proceedings
Barprohibit; preclude
Bargaina voluntary agreement to transact in goods
Bargain and Salea non-guaranteed contract that conveys property (and transfers title)
Bargaining Unita group that represents employees/contractors in collective bargaining efforts
Barterto trade items without using money
Basisthe taxpayer's cost in acquiring an asset
Bear Marketa booming market; a market that is experiencing growth (ie, increase in prices)
Bearerthe person who possesses the instrument/document that is being paid upon
Bearer Paperfinancial items that can be deposited by anybody [who possesses them] (eg, a T-Bill)
Benchsynonym for Judge (cf. the physical location where the judge sits [in a courtroom])]
Benefactorthe person who gives out the benefits
Beneficial Interesta beneficiary's equitable stake in a trust
Beneficiarythe person who receives the benefit
Benefitanything that a taxpayer receives that provides him/her an economic gain
Bequeathbestow a benefit onto another person/entity
Bequesta gift/grant/payment/reward
Bidan offer to buy/sell goods
Billan invoice
Bindingobligatory (usually set by an appellate court opinion)
Blue Chip Stockcommon stock of a popular company
Blue Sky Lawsstate laws aimed at preventing stock trading of fraudulent companies
Board of Directorsgroup of individuals who oversee the affairs of a company
Boardroomphysical location where the board of directors meet
Boiler Rooma high-pressured sales environment
Bona Fidegenuine
Bona Fide Occupational Qualification(BFOQ); characteristic of a job that requires discrimination
Bona Fide Purchasera person who innocently buys something
Bonda loan to corporation/entity
Bondsmana person who buys performance/surety bonds for another person/entity
Book Valuethe price of an item – as listed on a financial ledger
Borough Englishan english custom of inheritance that bestowed inheritances on the son
Breachfailure to uphold a contractual duty
Briberygiving a public official money/gifts in order to influence an official act
Briefa legal pleading (usually in an appellate case)
Bulk Transferwhen a business owner sells part of his business but skips out on his creditors
Bull Marketa falling market; a market that is experiencing collapse (ie, decrease in prices)
Bunchingconcentrating ross income in multiple years (thereby evading tax)
Burden of Proofan aspect of adjudication that requires a party to produce evidence
Business Cyclea fiscal period (by which finances are evaluated)
Buy-Sell Agreementa contract between co-owners to dissolve their shares
Bylawsrules & regulations that govern an organization
TermShort Definition
Callexercise a right/privilege
Call Optiona derivative that allows a future stock purchase at a specified price
Callable Bonda loan that the seller/issuer can immediately request re-payment on
Calumnyvilification/slander (usually found inside settlement agreements)
Capacitythe mental faculties to handle your own affairs
Capitalfunds that are used for sustaining/growing a corporation/venture
Capital Accountthe accounting records of the business' own equity/ownership
Capital Gains or Lossesrealized gains/losses from the sale/exchange of capital assets
Capital Intensivean industry sector that requires large amounts of physical machinery compared to labor
Capital Marketa place to buy/sell long-term fixed income securities (eg, bonds)
Capitalizationthe process of converting expected earnings into an asset
Capitalized Valuepresent value of future earnings
Carrybacka tax function that allows a person/entity to apply tax deductions to prior years
Carryovera tax function that allows a person/entity to apply tax deductions to future years
Carve Outseparating the income stream from the property (which produces it)
Casean action/cause/lawsuit
Cash Salestipulation that undisclosed manners of payment are assumed to have been paid in cash
Cash Surrender Valuethe amount of the insured's money that is stored inside of a life insurance policy
Casualty Lossfinancial/property losses due to uncontrollable events
Causa Mortisan anticipation of an approaching death
Cause Proximathe most-closely related cause
Cause of Actiona legal claim stemming from a specific event
Caveat Emptorbuyer beware
Certificate of Deposita simple investment device that only allows withdrawal after a certain period of time
Certificate of Incorporationthe document permits the corporations existence (this certificate succeeds the articles of incorporation)
Certificate of Titledocument that verifies the existence of a property title
Certiorari (Writ)a writ that a higher court uses to retrieve info from a lower one
Cfcompare (latin) (often used in appellate opinions)
Chain of Titlesequence of successive title holders
Challengeto question/object
Chanceryequity (old english term)
Charitable Contributiona gift to a foundation/non-profit
Charitya nonprofit institution organized and operated exclusively for beneficial purposes
Charterthe initial governing documents
Chattela tangible/movable thing/object
Chattel Mortgagea lien on personal property to secure payment of money owed
Checka draft on a bank account that is payable on demand
Check Kitingan illegal scheme that involves forwarding bad checks
Child & Dependent Care Credita tax credit to offset the expenses related to having dependents
Circuit Courta judicial court that is comprised of many smaller courts
Circumstantial Evidenceindirect information that can be used to infer the material facts
Citationlegal reference (eg, citation to a statute/opinion/etc).
Claimfacts that give rise to a court's adjudication
Claim of Refunda written request for a return of all/part of overpaid taxes
Class Actiona lawsuit that consolidates many similarly-situated plaintiffs as one plaintiff
Class Gifta gift to an unknown number of people; to be divied up proportionally
Classified Stockdividing common stock into different classes
Clausea provision within a contract/agreement
Clayton Acta set of federal statutes to combat antitrust problems
Clear & Convincingobvious (in the context of a [heightened] standard of proof).
Clear Titleunfettered ownership
Clerkthe person who handles many of the court's clerical duties
Codicila supplement to a will
Coercionforcing someone to do something against their free will
Cogentcompelling (usually in the context of a legal argument)
Cognizablewithin a court's jurisdiction
Coheira person who will share inheritance with another person/entity
Collateralproperties/items that have been put up in order to secure financing
Collateral Attacka legal action that assails the final judgment of a prior case (eg, habeas corpus)
Collateral Estoppelissue preclusion; previously litigated matters cannot be re-litigated
Collective Bargainingthe process of settling labor disputes (typically via negotiation)
Collusiondeceitful agreement to exploit a person/opportunity
Color of Lawofficial capacity or even proxy-official capacity
Color of Titlean invalid instrument that appears to pass title
Comitydeferring to another jurisdiction
Commerce Clauseclause in Art I. Β§8 US granting Congress power to regulate interstate commerce
Commercial Papera negotiable instrument that involves a future payment on debt
Commercial Unitan indivisible product/good
Commingling of Fundsmixing personal money with the client's money
Commissiona fee that is paid to an agent for services performed (eg, a commission on insurance sales)
Commoditya tangible good
Common Lawadjudication based on precedent
Common Stocksmall ownership in a corporation; but it has less rights/priorities than preferred stock
Compact Clauseconstitutional provision forbidding the states from contracting with one another
Companyan organization that performs an activity/business/enterprise.
Compensationpayment for goods/services
Competent Subtantial Evidenceevidence that is fact-based; open for cross examination; and satisfactory to a reasonable mind
Complainantthe person who initiated legal action (context β‰ˆ administrative agency)
Complaintthe written allegations/charges/counts [in a lawsuit]
Compound Interestinterest that grows upon itself
Concealmenthiding/destroying material evidence (see spoilation)
Conciliationa method of alternative dispute resolution that doesn't require trial
Conditiona prerequisite needed to spark a subsequent legal action
Conditional Feea commission-based payment that is contingent upon something
Confiscateto take away
Confrontation Clausea right for the accused to confront his/her accuser (see 6th Amendment)
Consanguinityblood-relation
Consentagreement; often a key element in legal cases
Consent Judgmentan agreement between two parties on final judgment (compare settlement)
Conservatora person who has dominion over another person's affairs (eg, a receiver)
Considerationpayment for goods/services
Consigneethe recipient of shipped goods
Consignmentthe delivery of goods – without sale – to a dealer
Consignorthe person who ships the goods
Consolidated Appealjoining/litigating multiple related cases together (in one case)
Conspiracymultiple people who've worked together to injure another
Conspiratorsomeone who is engaged in a multiperson scheme [to injure another]
Constitutionfundamental principles of law created by a government
Constructionthe way to interpret ambigious statutes
Constructive Dischargegetting harassed into quitting
Constructive Knowledgea substitute for actual knowledge
Construeto interpret language/text
Consumerthe person who will ultimately use the good/service (while having minimal re-sale interests)
Consumer Goodsitems that will be used for their ultimate purpose
Consumer Protectionguardrails to prevent merchants from abusing consumers
Contemptdisrepecting or disobeying court orders
Contingenciespossible future events that are uncertain, yet manageable
Contingent Beneficiarya person who will receive a benefit if some unintended event occurs
Contingent Estatean interest in land that depends on the occurrence of some future event
Contingent Feea commission-based payment that is contingent upon something
Contingent Liabilitya liability that only accrues if uncertain facts/circumstances occur [in the future time]
Contracta legal agreement
Contractora party to an agreement (compare independent contractor with servant)
Contributionpayment for goods/services
Contumacycontemptuous; disrepecting or disobeying court orders
Convertible Securitiesbonds and preferred stock that can be traded for common stock
Conveyto transfer property to another person
Coparcenarymultiple females inheriting an estate due to the default of male heirs
Coparcenersmultiple people who've inherited co-ownership of a property (by virtue of descent)
Coparcenythe English custom that equally divided an inheritance to all daughters
Corporate Opportunityprecluding corporate officers from appropriating corporate business/ventures for their personal benefit
Corporationa legal entity that allows multiple shareholders to experience the benefits of business operations
Corpusthe body/main substance
Cosignadding a non-party/third-party signature to a document
Cost of Living Clausecontract provision that indexes the prices according to a cost-of-living element
Cotenancysimultaneous possession of a property right
Counselattorney/lawyer; or - in a different context - to advocate
Counta distinct allegation (which features legal ramifications)
Counterclaima defendant's charges against a plaintiff
Couponsperiodic payments from bonds
Courtpractical expression of the judicial branch of government
Court of Claimsa federal trial court that adjudicates government contracts/regulations/laws/etc.
Court of Equitya court that deals with fairness
Court of Lawa court that deals with law
Court Reporterthe person who transcribes testimony
Covariancehow a binomial dataset fluctuates
Covenanta widespread agreement
Covenant not to Competecontract provision that precludes a party from engaging in similar business ventures
Creditloaned money
Credit Carda small plastic object that purchases (via credit)
Creditorthe person/entity that lends money
Cross Examinationasking a witness questions [on the stand] after he/she testified
Cross-Claima defendant's charges against another defendant
Current Liabilitiesaccounts payable that are due within a year
Curtesya husband's right to a life estate (upon his wife's death)
Curtilagethe immediate area surrounding a building
Custodykeeping something
TermShort Definition
Damagesthe relief sought as a remedy to the alleged wrongdoing
De Factobased on fact/practice/tradition (compare with de jure)
De Minimistrifling/small; not worthy of legal attention
De Novoanew (start a subsequent proceeding as if the first one never happened)
Debenturewritten acknowledgement of a secured debt
Debitoutbound money (that's already been charged to your account)
Debtan obligation to pay money to another person/entity
Debtorthe person/entity that borrows money
Deceaseddead
Decedenta dead person
Declaratory Judgmenta court order stating the rights a person has in a particular situation
Decreea judgment/determination in a court of equity (eg, divorce decree)
Decrementstime-based decreases in quantities
Dedicationgiving land/property to the public
Deductionsoffsets against gross income (to reduce one's taxable income)
Deeda written instrument that transfers land
Deed of Trusttransfering legal title to a trustee
Deep Rock Doctrinea methodology that combats prioritization of improper shareholder loans
Defalcationa fiduciary's failure to pay money that is due
Defaultfailure to perform a duty
Default Judgmentjudgment against a Defendant for that Defendant's failure to answer the complaint
Defeasancean instrument that defeats a deed/will
Defective Titlea tainted (and probably inoperate) ownership right
Defensedenial/answer/plea disputing the validity of the plaintiff's case
Defermentpostponment
Deficiencydiscrepancy between correct tax liability and actual tax liability
Deficitbased on fact/practice/tradition (compare with de jure)
Defrauddeceive another person in order to receive financial gain
DeJurebased on law/rule (compare with de facto)
Delinquentoutstanding debts
Delistingremoving a stock from an exchange
Deliveryvoluntary transfer of title/possession to another person
Demand Noterequest for payment
Demisetransfering an estate in real property (or leasing it out)
Demurrebut a complaint by saying that it is legally insufficient
Demurrerformal demur
Dependenta person who resides with a taxpayer; yet does not proliferate his/her own taxable income
Depositiona judicial interrogation of a witness (taken under oath)
Depositora person who puts money into a financial institution (eg a bank)
Depreciationa decrease in value
Depreciation Reservethe total amount of depreciation that has been charged against productive assets
Derivativea financial bet
Descentacquiring property without a will
Descent and Distributiontransferring a predecessor's property to his/her heirs
Devisea gift of real property that is made by a will
Dictumadditional, non-binding reasoning in an opinion
Diligencespecific attentiveness (which satisfies a legal requirement)
Diminution in Valuedamages suffered due to a contract breach
Direct Evidenceinformation that is not open to interpretation of the material facts
Discounta reduction from a specified sum to reflect that payment isn't due until a future date
Discounted Cash Flowcalculation of the present value of future money
Discoverythe process of recovering evidence pertinent to a case
Discretionfreedom to choose
Discriminationunequal treatment
Dishonordisregard; rebuke any prior responsibilities/obligations
Disinheritanceto cancel a donee's/heir's inheritance
Disintermediationtransfering savings into money-market investments
Dismissalterminating a case; usually without adjudicating the merits of it
Dispositionclosing a case
Disqualificationremoval from a case due to impropriety (also see recusal)
Disseisindispossessing someone of his/her land (by using claim – or color of title)
Dissolutionthe termination of a corporation's legal existence
Distributionpaying someone (or multiple people/entities)
District Courta federal court that has territorial jurisdiction
Diversity (Citizenship)the rule that says people of different states can litigate in federal court
Divestituresurrendering a right/title/interest/property/etc.
Dividendperiodic payments from stocks
Docketthe record of documents that are before the court
Documentinformation submitted to the court (writings/recordings/etc.)
Document of Titlea receipt that indicates entitlement to specified goods/etc.
Domainthe lands & buildings within someone's dominion
Domicilethe place of residence
Domiciliarya resident of a state/nation
Dominant Estateretained land that succeeds conveyance; and trumps the servient estate
Dominiontitle and control over a location
Donative Intenta donor's voluntary intent to make a gift
Doneethe person who receives the gift
Donorthe person who gives a gift
Double Jeopardyprosecution/punishment twice for the same offense (also see res judicata)
Dowagera widow who is supported by her dead husband's property
Doweran estate that a wife is entitled to [upon her husband's death]
Dowrya payment that a wife gives to her husband [upon marriage]
Drawto take out
Draweethe person who takes the money out
Due Processlegal fairness (characterized by notice and an opportunity to be heard)
Duressdistress
TermShort Definition
Earnings and Profitscorporate income that could be distributed as a dividend
Earnings Reporta financial statement that gives operating results
Easementto convert someone else's land into something that is publicly beneficial
Ejectmenta type of eviction
Election Under the Willa principle that states that accepting a will means submitting to all of its provisions
Embezzlementunlawful mismanagement of money
Emblementssigns that embezzlement is happening
Emolumentprofit derived from office/rank/employment/labor
En Bancall of the judges (ie, entire bank of judges) - primarily for appellate decisions
Enclosureland enclosed by something other than an imaginary boundary line
Encroachto gradually intrude upon the rights/property of another person/entity
Encumbrancerights/interests that diminish a land's value (eg, pending litigation)
Endowmenta permanent devotion of property/money bestowed upon a person/institution
Endowment Insurancean agreement by which the insurer pays [the beneficiary] a specified amount
Enfeoffthe methods of conveying freehold estates
Enjoinstop/prevent (see injunction)
Entailto create an estate (aka a "fee simple absolute")
Entitya being that exists – for tax/accounting purposes
Equal ProtectionFourteenth Amendment clause prohibiting discrimination in the legal system
Equitablefairness
Equitable Distributiona fair parsing out of money
Equitable Estoppelpreventing the harm caused when an authority misleads an individual
Equitable Recoupmenta fair parsing out of divorce money
Equityfairness
Equityfairness
Equity of Redemptionthe mortgagor's right to redeem property after default
ERISAemployee retirement income security act - to protect the retirement funds of employees
Erroneousmistakes/misgivings that were committed within one's authority
Escalator Clauseprovisions of a lease/contract that increase the price due to some external event
Escape Clausea provision in a contract permitting a party to renege on its obligations
Escheatassignment of property to the state
Escrowa written instrument (eg, a deed) that is temporarily deposited with a neutral third party
ESOPemployee stock ownership plan - methods for employees to own corporate stock
Establishment ClauseFirst Amendment language prohibiting religious legislation
Estatethe nature/extent of a person’s interest-in/ownership-of land
Estate of Inheritancea species of land-ownership that can descend to heirs
Estoppelstopping/preventing
Estoversthe right of the tenant to use timber on the leased premises
Et Al.and others (often used to indicate co-defendants/co-plaintiffs)
Et Seq.so-on & so-forth (often used when citing a statute)
Et Uxand the wife (latin)
Eurodollara US-based currency that was issued out aftre WWII
Evasion of Taxvarious fraudulent methods by which a taxpayer may pay less than his/her proper tax liability
Evictionto legally/permanently remove a tenant from a property
Evidenceinformation pertinent to a case
Ex Officioautomatic appointment to a committee/board due to the person's public office
Ex Parteone-sided communication with the Court/Judge
Ex. Rel.lawsuit initiated by a private individual, but between the government and another individual
Exceptionlegal objection to a ruling
Exchangetrade; a marketplace for trade
Excise Taxany kind of tax that is not applied to property/rent/income
Exculpatory Clausea provision in a legal document that precludes legal liability for self-committed acts
Excusable Neglecta forgivable mishap/shortcoming (see equitable; or tolling)
Ex-Dividendwithout a right to a declared dividend
Executionthe process of carrying into effect a court’s judgment/decree/order
Executive Branchthe branch of government that executes/enforces the law
Executora person who has been appointed to carry out the provisions of a will
Executoryyet-to-be accomplished
Exemptiona deduction allowed to a taxpayer because of his/her status/circumstances
Exhibitsinformation submitted as evidence
Exigent Circumstancessevere calamity that makes standard procedures more malleable
Expectancyfuture interest of possession/enjoyment)
Expenseany business cost incurred via operations/maintenance
Expert Witnesssomeone who testifies about a matter he/she has skill/knowledge of
Expressformally disclosed in written/oral format
Expressio Unius Est Exclusio AlteriusLat.: if it's not expressly written in the statute then it was meant to be excluded
Expropriationthe taking of private property for public purpose
Ex-Rightscondition in which sold stock cannot be subsequently purchased again
Extensionincrease in the time given to complete a task (ie, pushing a deadline back)
Extrajudicialnon-judicial (ie, beyond a court's jurisdiction)
Extrinsic Fraudfake junk that will infringe upon due process rights to a fair trial
TermShort Definition
Face Valuethe value that has been emblazoned on the financial instrument
Fact Finderthe person who makes determinations of fact
Factuma fact
Failure of Issuethe state in which a person has not had any children (in the context of inheritance)
Fair Market Valuethe price of an item – as determined by the market
Fair Trade Lawsstate statutes that permit a manufacturer to establish minimum resale prices
Fair Useprovisions that allow people to copy/distribute copyrights under certain conditions
Fannie MaeFederal National Mortgage Association – promotes the secondary mortgage market
FCICfederal crop insurance corporation - to protect the economy from fluctuations in crop yields/etc
FDICfederal deposit insurance corporation - to protect people from bank failures
Fed. Quest. Jurisdictionwhether the legal controversy is based on a federal law
Fed. Tort. Claims Acta legislated waiver of sovereign immunity (see 28 USC Β§1346)
Federal Courtthe court system that handles federal matters of law
Federal Reserve Systema central bank with twelve member banks – creating the money supply
Federalismtiered government; with lower tiers being more protective (cf. Supremacy Clause)
Feean estate
Fee Simplea freehold estate of virtually infinite duration
Fee Tailthe estate created by a conveyance to a person
Fellow Servantsco-workers
Fencethin walls that denote an enclosure
Feoffmentthis is the method of conveying title to freehold estates
Fertile Octogenarianlegal fiction that says every living person can produce a child
FICAfederal insurance contribution act - a tax levied on income
Fictitious Persona supposed – yet nonexistent – individual that gets referenced in a legal document/proceeding
Fiduciarya person who is entrusted with not taking advantage of investors
FIFOaccounting method – First-in First-Out
Filingsubmitting documents to the court
FILOaccounting method – First-in Last-Out
Finance Chargeany charge for an extension of credit
Financial Intermediaryan organization that brings lenders and borrowers together
Financial Statementa document that gives operating results for a specific period
Finder's Feea fee/commission paid for finding what a client/customer wants
Findinga determination (usually part of a jury verdict)
Finemoney taken from a party – due to that party's transgression
Firm Offera proposal that states that it is to be irrevocable for a set time
First Impressiona case/controversy that no court has encountered until now
Fiscfiscal
Fiscala consistent, self-defined 12-month period (used by legal entities for accounting)
Fixed Capitalthe amount of capital that is permanently invested in a corporation
Fixed Incomeincome that does not change
Fixed Salarya salary that is set at a dollar amount and does not increase/decrease
Floatsending deposits/loans from one bank to another
Floating Debtany short-term financial obligation
Forbearancepostponing a debt payment
Forced Heirpersons who cannot be disinherited
Foreclosuredefaulting on mortgage payments
Foreseeabilitya concept to limit a party’s liability for the consequences of his/her acts
Forfeiturepermanent loss [of property] for failure to comply with the law
Forgeryfraudulent written submissions – with the intent to prejudice the rights of another
Forma Pauperispoor person status; access to Court without prepayment of costs/fees
Forumthe area for which conduct occurs
Forum Non Conveniensa court that is not convenient for the witnesses and/or parties
Forward Contractan agreement in which a buyer promises to purchase a specific item in the future
Foundationan organization that has been formed for the greater good
Foundera person who forms an organization
Franchisethe right to market another person’s product within a certain area
Fraudfake/underhanded junk that is harmful
Free Exercise ClauseFirst Amendment language prohibiting government infringment on the right to worship
Free Look Provisioninsurance provision that allows the insured to cancel his/her policy for a full refund
Freeholdan estate/interest in real property
Frivolousa weak claim that cannot be litigated
Front-End Load Plana contractual agreement to buy instruments through periodic payments
FTCfederal trade commission – agency protecting consumers
Full Faith and Creditfederal courts must honor legitimate state court judgments (see 28 USC Β§1738)
Fundan amount of money that may be available
Fundamental Rightcore tenet needed to secure liberty & justice
Fungibleeasily-transferable monies
Futuresinvestments that will be executed in the future – and at a specified price
TermShort Definition
Gainful Employmentemployment suited to the ability of the person who is employed
Garnishto attach wages/property to repay a debt
Garnisheethe person who retains someone else's money in order to pay a different person/entity
Garnishmentthe process in which money/goods are attached by a different person
Gavelkinda form of feudal land ownership that required land to descend to all sons equally
GDPgross domestic product – aggregate amount of goods/services that a nation produces [in-house]
Generation Skipping Transfera conveyance that skips a familial generation
Gifta voluntary transfer of property that is made without consideration
Gift Causa Mortisa gift that is made in contemplation of an impending death
Gift Overan estate that is set to succeed the expiration of a preceding estate
Gift Taxa federal tax that is imposed on gifted transfers
Ginnie MaeGovernment National Mortgage Association – promotes the secondary mortgage market
GNPgross national product – aggregate amount of goods/services that a nation produces
Going Concern Valuean additional business value that attaches to property – due to the ongoing business thereon
Good Causerational
Good Faithvirtuous, pure, (devoid of frivolity)
Good Tenantable Repairthe obligation of a tenant to maintain the condition of rented property
Good Titleunfettered ownership that is also free of any defects/litigation/etc
Good Willan intangible business asset that is the result of certain features of an ongoing enterprise
Goodsany species of property that is not real estate
Grace Perioda span of time in which an insurance policy will remain active despite a late [premium] payment
Graftfraudulent receipt of public money via the corruption of public officials
GrandFather Clauseprovision that allows a prior custom to continue – despite it no longer being legal
Grantapprove/allow (typically - in this civil rights context - an Order Granting a Motion)
Gratisfree
Gratuitya tip
Gravamenthe main point
Grosstotal (before deductions/taxes/etc.)
Ground Rentan estate of inheritance in the rent of lands
Growth Stocksuccessful corporate stock
Guaranteeapprove/allow (typically - in this civil rights context - an Order Granting a Motion)
Guaranteed Securityan investment security that is guaranteed – by someone other than the issuer
Guarantya promise to be responsible for a debt/default/etc
Guardiansomeone who legally has care & management of an incompetent person
Guardianshiplegal responsibility to care/protect someone who is unable to manage his/her own affairs
TermShort Definition
Habenduma clause in a deed that sets the parameters
Habitabilitycapable of reasonable living
Harassmentabusive/belittling/coercive/demeaning behavior aimed at impeding another person's livelihood/progress (also see Hostile Workplace)
Harminjury/loss that must be remedied
Harmless Erroran error that [probably] didn't impact the outcome of the case
Head of Householda taxpayer who has dependents, but no spouse
Hearinga less formal trial
Hearsaythird-party utterances; admissible in DOAH but not in Court
Hedge Funda financial venture that manages its investment risks
Hedgingthe act of minimizing your exposure to harmful investment outcomes
Heir Apparenta person who has the rights to inheritance
Heirspeople who will receive the inheritance
Hereditamentsanything that can be inherited
Hereditary Successionthe passing of title – according to the laws of descent
Hidden Asseta valuable item that is absent from a financial statement
Hidden Inflationa price increase that is implemented by offering an impaired quality/quantity
Hidden Taxa tax that is implicitly imposed/transferred
HIPAAthe federal law that protects medical information from disclosure
Hoardingamassing exhorbitantly large quantities of something
Hobby Lossa taxable deduction for losses sustained from doing a hobby
Holdera person who possesses the title/instrument/goods
Holder in Due Coursea good faith possessor who has taken a negotiable instrument for value
Holdingbinding, authoritative part of a decision/opinion
Holding Companya parent organization that primarily focuses on the finances of its subsidiaries
Holding Periodthe timeframe for which property must before that property produces realized gains
Holographic Willa will & testament that has been entirely written by the testator
Homagebend your knee to the king/landlord
Homesteadresidence (including the surrounding lands)
Hostile Workplacean employment setting that is riddled with demographics-based harassment/humiliation/intimidation/etc.
TermShort Definition
Ida continuation of the cited text (abbreviation for latin word "idem")
Illusory Promisea promise that is too indefinite to be enforced
Immaterialirrelevant
Immoral Conductbehavior that is at-war with norms
Immunitya preclusion on liability
Impliedinferred from facts/circumstances (compare express)
Implied Consentassent/agreement to continue – as inferred by circumstances
Imposta tax
Imputevicarious assignment (compare vicarious liability)
In Escrowheld by someone – who is not a party to a transaction – for future delivery to a party
In Feeabsolute ownership of an estate in land
In Haec Verbain these verbs (construction)
In Kindof the same type/quality
In Limineat the threshold/beginning (see motion in limine)
In Pari Materiasimilar stuff should be read together (latin for "on like subject matter")
In Perpetuityforever
In Rea legal action with only one party (latin for "in the matter of")
In Terroremcoercive contract provisions
Incapacitythe lack of legal/physical/intellectual power
Incomeearnings; revenue
Income Averaginga method of calculating tax liability to minimize adverse consequences to a taxpayer with substantial fluctuations in income
Income Splittinga tax method that allow a married couple to file jointly while splitting total earnings in half
Income Statementa financial document that gives operating results
Income Tax Returnthe filing of taxes with federal/state/local governments
Incroachto use unlawfully
Indebitatus Assumpsitto be indebted to
Indefeasibleunconquerable; undefeated
Indemnifyto insure
Indemnityan insurance agreement
Indenturea deed conveying real estate by which both parties assume obligations
Index Funda portfolio of stocks that have been selected to mimic a stock market index
Indiciasigns
Indigentpoor person status; access to Court without prepayment of costs/fees
Indorseea person to whom a negotiable instrument has been assigned
Indorsementthe signature on the back of an instrument
Indorserthe person who indorses the negotiable instrument
Inferencea preliminary conclusion based on facts/allegations (also see presumption)
Inferior Courtthe court whose decisions can be reviewed by an appellate court
Infeudationthe act of granting a freehold estate
Informed Consenteducated assent/agreement to continue
Infralatin word for below; (antonym to supra)
Infringementbreach; obstruction; impairment; hampering (typically used when referring to violations of fundamental rights)
Inherent Powerobvious authority that a government body has
Inheritto receive from a predecessor
Inheritancethe considerations that have been doled out by a will & testament
Initiativeregular people pushing/creating a new law (compare with referendum)
Injunctionpreventative remedy
Injuryharm/loss that must be remedied
Insidersomeone who is privy to market-moving information
Insider Tradinginvesting in securities while having unfairly obtained knowledge (eg, point-shaving)
Insolvencybankruptcy of an insurer/corporation
Installmentperiodic debt payments
Installment Contractan agreement to satisfy debts through multiple small payments
Instrumenta written contract
Insurable Interestcondition that ensures that the insured has a moral justification for the policy
Insurancefinancial protections against undesirable events (eg, death; etc.)
Insuredthe person/thing whose acts/calamities are being insured
Intangible Asseta valuable item that cannot be directly calculated (eg, brand name)
Intangible Propertypossessions that only represent real value
Inter Aliaamong other things (latin)
Inter Sebetween themselves (eg, trustees provisioning trustees)
Inter Vivosbetween the living (ie, contracts that were made while people were still alive)
Interestconsideration for the use of [someone else's] money
Interim Financingdebt that is incurred on a short-term basis
Interlocking Directoratemultiple boards of directors [of corporations] that have common members
Interlocutorynon-final
Internal Revenue Codelarge body of federal statutes that govern taxes
Internal Revenue Servicegovernment agency that collects taxes
International Agreementstreaties
Interrogatorydiscovery tool that asks an entity questions under oath (usually in writing)
Interstate Commercebusiness activity among inhabitants of different states
Interventionallowing an affected person/organization to enter a lawsuit
Intestatedying without a will
In-the-Moneyphase in a stock option's life in which it is profitable
Intrinsic Fraudfake/underhanded junk that was used in an important ruling
Inventorycompendium of stored/owned goods
Investsending money for the purpose of receiving more money in return
Investiturea ceremony demonstrating the transfer of possession of land
Investmentan outlay of money with the expectation of a larger return of money
Investment Bankerstockbrokers; bond sellers;
Investment Companyorganizations that focus on trading various securities
Investora person who supplies capital to others
Invidiousnasty/vile strain of discrimination
Ipso Factofacially factual (latin)
IRAindividual retirement account – financial tool for securing retirement
Irreparable Harmimminent injury that cannot be remedied with money (eg, wife will kill me)
Issuea disputed point/fact
Issuea disputed point/fact
TermShort Definition
Jobberthe middleman in a buy-&-sell arrangement
Joinderuniting several causes of action or parties
Joint Accountbank account controlled by multiple people/entities
Joint Livesactuarial event that is contingent on the death of the last survivor
Joint Venturebusiness proposition launched by multiple people/entities
Jointurea middleman (in the sale of goods);
Judgmentfinal decision on the facts and law of a case
Judgment Creditorthe [financial] party whom the court renders judgment in favor of
Judgment Debtorthe [financial] party whom the court renders judgment against
Judicialpertaining to the application of law
Judicial Economyconservation of judicial resources/effort
Judicial Estoppelprevention of self-induced contradictions
Judicial Immunityprotection against liability for discretionary/jurisdictional acts performed on duty
Judicial Noticethe court's recognition of indisputable fact derived from irrefutable sources
Judicial Reviewappellate proceeding
Jurisdictionpower to adjudicate
Jurisdictional Amountthe monetary threshold to invoke jurisdiction
Jurisprudencethe science of law
Jurora member of the jury (ie, a person (alongside his/her peers) who determines the verdict)
Jus Tertiithe legal right of a third-party
Just Compensationfair consideration for eminent domain
Justiciablean issue that a court can remedy, because it meets certain criteria
TermShort Definition
Kangaroo Courta tribunal that is biased and flimsy with the law
Keogh Planretirement plan for self-employed person
Kickbackunderhanded consideration in exchange for favors (eg, a bequest)
TermShort Definition
Labor Uniona group formed for the betterment of a employment corps
Lachesa defense against stale claims (see tolling and statutes of limitation)
Landany tract that can be conveyed by deed
Land Trusta device that vests title to real property (in the name of a trustee)
Landlordthe person who controls a tenant's residence
Lapseto expire without benefit
Latent Defectan infirmity that can only be found after ordinary usage
Lateral Supportobjects on a neighbor's property that support the structure of owned property
Law of the Casethe doctrine which holds that previously decided issues cannot be reopened
Lay Witnesssomeone who testifies about stuff he/she has observed
Leaseto rent
Leaseholdthe estate [in real property] of a lessee – created by a lease;
Leavepermission
Legacya disposition – by will – of personal property
Legal Agethe age in which the authorities recognize for legal rights/privileges
Legal Fictiona material falsehood (see fraud upon the court)
Legal Tenderthe type of consideration that the authorities deem as legitimate currency (eg, a US Dollar)
Legateerecipient of personal property – by virtue of a will
Legislationpertaining to the creation of law
Lendthe give someone for a period of time; while expecting a return
Lesseethe tenant of a landlord
Lessora person who grants a lease to another person/entity
Letto rent out
Letter of Credita promise by a bank/issuer that it will honor – on behalf a customer – demands for payment
Letter Stockstocks that are sold via nonpublic transfers
Leverageto increase your debt in order to improve your return on equity
Levyto assess
Liabilitymoney/considerations that you must pay out (or that are at risk)
Licenselegal permission to engage in some activity
License Taxa fee/tax that is charged for engaging in some regulated activity
Licenseethe person who earns/receives a license
Licensora person/entity that grants a license.
Liena claim on another person's property to use as security for that person's indebtedness
Life Estatean estate with a limited duration (which is limited by someone's life/death)
Life Insurancea financial product that pays a benefit to a beneficiary when the insured person dies
Life Insureran insurance company that sells life insurance (and/or annuities)
LIFOlast-in first-out (a common accounting method)
LILOlast-in lat-out (a rare accounting method)
Limitationa restriction/restraint
Lineagedirect blood relatives (eg, grandparent, parent, child, grandchild, etc.)
Linealpertaining to a direct bloodline
Liquidateto sell [assets] in order to satisfy a liability
Liquidated Amountthe amount that an asset can be [prematurely] sold for
Liquidated Damagesdamages that can be determined with certainty (synonym for sum certain)
Liquiditythe ease in which an asset can be sold for cash
Listed Stockfinancial securities that are sold on a credited stock exchange
Listingthe practice of placing securities/instruments/properties on a market
Litigationthe practice of suing
Livery of Seisinan ancient ceremony signifying an alienation of land by feoffment
Loanmoney that is borrowed
Loansharkingpredatoring money lending
Lossa state of affairs that includes damage/death/injury/etc.
Lost Propertyproperty that is involuntarily lost – through neglect/etc
Lotterya regulated gamble that pays a large benefit to people who purchase tickets
Lower of Cost or Markettaking the minimum between the purchase price and the current market price
Lump-Sum Paymenta large financial consideration
TermShort Definition
Magistratea judge who supports another judge during the proceeding
Magnuson-Moss Warranty Actfederal law requiring warranties to be written in plainspeak
Mail Box Rulea rule establishing that a [responsive] acceptance [to an offer] is valid
Makerthe person/entity who executes a note
Malfeasancemisconduct that breaches the public trust
Maliceharmful/tortious intent
Malpracticemisconduct/errors/omissions that harmfully belie one's fiduciary duties
Mandamuswrit directing a public official to complete his/her ministerial duty
Mandatea command
Manifest Injusticeplain error that infringes someone's rights and impairs a fair proceeding
Manora large estate (often associated with feudal systems)
Marginthe difference between the revenue received and the expense paid
Margin Accounta ledger signifying the amount of money a stockbroker has lent to an investor.
Margin Calla stockbroker's request that an investor add funds to the investor's margin account
Marital Deductiona tax reduction for widows/widowers
Marital Estateproperty that a husband & wife acquire throughout their marriage
Market Pricethe price of an item – as determined by the market
Market Valuethe value of an item – as determined by the market
Marketable Titlea title that a reasonably well-informed purchaser would be willing to accept
Mark-to-Marketan accounting method that sets the values of assets/liability to their current market price
Marshalpublic officer who performs federal court duties (similar to a state Sheriff)
Massachusetts Trusta business trust that confers limited liability on the holders of trust certificates
Master-and-Servantthe relationship type between an employer and an employee (compare with agent)
Materialnecessary, meaningful, pertinent to the adjudication of a matter
Mediationa method of alternative dispute resolution which does not result in a decision
Member Banka bank that is part of the Federal Reserve System
Member Corporationa corporation that has at least one director who is a member of the NYSE
Member Firma firm that has at least one partner who is a member of the NYSE
Memorandumless formal brief
Merchanta knowledgeable seller-of-goods
Merchantablereasonably fit for commerce
Mergerone corporation ceases to exist by becoming part of another [ongoing] corporation
Meritthe facts & elements for a cause
Mesnemiddle; as in mesne process (see Rule 1.160 Fla. R. Civ. P.)
Military Willan orated will & testament (which receives less stringent regulations)
Ministerial Actmandatory act that a public official must complete
Minutesa written/recorded summary of a meeting (see 28-102.002 FAC)
Misapplication of Propertythe conscious illegal use of funds/property for a wrongful purpose
Miscarriage of Justicea court's error that impugns a fair proceeding
Misconductcorrupt behavior by a public officer
Mistrialcrucial error that requires a new trial
Money Demandany demand/action arising out of contract/tort/statute
Money Had and Receivedphrase used in civil suits regarding lending
Money Judgmenta legal judgment that orders one party to pay another party
Money Ordera credit instrument that calls for the payment of money to a named payee
Money Supplythe way the Federal Reserve System creates/circulates money
Monopolya dominant position in a market/industry
Mootan issue/claim that is no longer active
MortgageLegal/financial agreement stating that β€˜you can have my house if I don’t pay you back’
Mortgageethe party that lends money to the mortgagor
Mortgagorthe party that borrows money from a bank
Mortmaindead hand
Motionrequest to the court
Motion in Liminerequest to exclude prejudicial evidence
Movantthe person who filed the motion (ie, the person asking the court for relief)
Municipal Bonda bond/loan that is issued by a government body (eg, a state; a county; etc.)
Municipal Corporationincorporated cities/towns/villages that have subordinate/local powers of legislation
Mutual Funda firm/investment that pools money for the purpose of buying certain stocks/bonds
Mutual Fund Sharean investment into a mutual fund firm [itself] – as opposed to the fund's investments
TermShort Definition
Named Insuredthe person whom the insurance covers
NASDnational association of securities dealers
NASDAQnational association of securities dealers automated quotation service
Natural Persona biological human being (as opposed to a corporation/fictitious-person/etc.)
NE Exeatdo not leave (latin)
Necessary & Proper Clauseconstitutional provision empowering Congress to make laws
Negative Pregnantslick talk that doesn't address the overarching fact
Negotiable Instrumenta promise-to-pay that is in writing
Negotiationan alternative dispute resolution whereby parties settle their differences without any outside intervention
Net Asset Valueassets minus liabilities/expenses/etc.
Net Estatethe value of a property after subtracting its debts/expenses/etc from its asset value
Net Incomerevenue minus expense/deductions/taxes/etc.
Net Operating Lossallowable deductions minus gross income
Net Worthassets minus liabilities/expenses/etc.
NLRBnational labor relations board (an organization that helps comply with OSHA/etc.)
No Faultp&c insurance provision that pays benefits regardless of who caused the accident
Nonassessable Stockstock that was purchased at full par value
Nondiscretionary Trusta trust that restricts its investments to a set of predefined securities
Nonfeasancerefusal/neglect to do what you've contracted to do
Nonmember Banka bank that is not part of the Federal Reserve System
Nonpar Stocka stock that doesn't have its price tag disclosed
NonQualified Pensionretirement plan that struggles with tax deductibility
NonRecoursewithout personal/taxable liability
Nonstock Corporationa corporation that is formed on a charter instead of via the issuance of shares
No-Par Stockstock that has been issued without a price label
Notary Publica person who verifies a person's oath/attestation
Notea promise-to-pay that is in detailed writing
Noticelegal affirmation of knowledge of an important legal matter
Notice to Quita formal notification terminating a tenancy
Notorious Possessionobvious indications as to title
Novationsubstitution of a party – for one of the original parties – to a contract
NOW Accountsavings accounts that permit withdrawals
NSF Checka bounced check
Nudum Pactuma promise that is devoid of any obligation on one side
Nugatorynull; void
Nuisancean annoyance that has legal remedies
Nunc Pro Tunc"now for then" (revising history in order to satisfy a prior decision)
Nuncupative Willoral declarations of a terminally ill person
NYSEnew york stock exchange (the largest securities exchange in the world)
TermShort Definition
Oatha sworn statement taken under the penalty of perjury
Obiter Dictaadditional, non-binding statements made in a court opinion
Objectionthe primary form of legal opposition
Obligation of a Contractstructural pillars of a contract (not the actual terms & conditions)
Obligeea person who is entitled to receive money/service
Obligora person who is obligated to pay another person [money/etc.]
Obsolescenceuselessness (due to technological/etc advances)
Obstructioninterference of a legal action (see perjury; spoilation of evidence)
Obvious Riska peril that is so apparent that it almost renders an implied consent upon participants
Occupancythe act of existing within a property
Occupanta person/entity who has the actual use/possession of property
Occupational Diseasea health condition that is associated with a job/task
Occupational Hazarda danger that is associated with a job/task
Odd lota small investment portfolio (eg, fewer than 100 stocks)
Offera displayed willingness to enter into a bargain
Officera person who has authority in a public domain
Officious Intermeddlera phony who's purporting to do-good for others yet on the condition of personal gain
Oligopolya small group of companies/entities that dominate a market/industry
Omissionto fail to do something (for which you have a duty to complete)
Omnibus Clausean insurance provision that provides coverage for multiple people
On-Marginbuying securities while borrowing funds
Opinionthe Court's explanation of its final decision
Optionan add-on that grants a conditional right/privilege to a party
Option Contracta promise in which the owner of an item grants another person the privilege to buy/sell the item in the future
Option Writerthe person/entity that sells the stock option
Oral Argumentvocalized legal presentation
Ordera court ruling
Order Paperan negotiable instrument that is payable to a specified person (instead of to cash/bearer/etc.)
Ordinary Course of Businesstypical/reasonable business activities
Ordinary Incometaxable income from the ordinary course of business/work
Original Issuethe initial stock price
Original Jurisdictionauthority to consider and decide a case in the first instance
OSHAoccupational safety and health act
OTCMarketa place where people buy & sell unlisted securities
Ousterthe wrongful dispossession/exclusion of a person
Out-of-Pocket Expensescosts for necessary items that are directly paid (and recoverable)
Out-of-the-Moneyphase in a stock option's life in which it is not profitable
Overreachingtaking an unfair advantage (via deceit/fraud/etc.)
Overruleto deny an objection; to void a previous judgment
TermShort Definition
Pactuma pact; a contract
Paid-in-Surplusoverpaying for a stock
Painting the Tapepretending that your stock is actively trading
Palimonyan alimony paid to a business partner
Panela group conferring on a decision (eg, panel of commissioners, jury panel, etc.)
Paper Profitbook profits that have not yet been realized/liquidated
Parthe face value (ie, the price tag label placed on securities)
Paramount Titlesuperior ownership rights
Parcenerssomeone who has inherited an estate
Parens Patriaea nation's supreme guardians (of disabled persons)
Partitionlegal separation of a land's joint ownership
Partnershipa group of business associates who assume personal liability on the venture
Partyindividuals/organizations directly involved in a legal dispute
Party Walla physical structure that abuts/separates two properties
Patentevident; obvious
Patent Defectan infirmity that can be found with reasonable diligence
Paupera poor person (see indigent)
Pawnto sell something in order to satisfy a debt
Payeethe person who receives payment
Paymentan amount that is remitted [to satisfy a debt]
Payoffthe strike price minus the spot/stock price; denoting a difference between payoff and profit
Payorthe person who gives payment
Peculationdefraud people for money
Pecuniarytangible (refers to losses/damages)
Penalty Clauseprovision for an outlay to combat defaults
Pendent Jurisdictionfederal court's authority to adjudicate state law claims on a federal case
Per Autre Vieconditioned on the survivorship of another person
Per Capitaproportioned to each individual
Per Curiamby the court (typically connotes an automatic appellate decision) (see IOP 5.4 (1DCA))
Per Diemper day (usually for calculating witness expenses, etc.)
Per my et Per Toutby half and by whole (French) – joint tenancy stuff
Per Stirpesproportionate descending shares [of an inheritance]
Per Tout et non Per Myby the whole and not by the half (French) – joint tenancy stuff
Peremptoryabsolute
Perfectedfinalized
Performance Bonda loan that guards against a breach of contract
Perilrisk
Perjurylying under oath
Perpetuityan annuity that lasts forever
Personal Effectsitems of intimate/sentimental value (eg, jewelry; etc.)
Personal Holding Companya small company that rich people used to evade taxes
Personal Propertymovable items that are attached to property (eg, microwaves; etc.)
Petitiona civil complaint/request
Petitionersynonymous with appellant, but signifies a different kind of action
Piercing the Corporate Veilprosecuting individuals after stripping their fake corporation of its limited liability
Plain Erroran easy-to-see error that impairs a fair trial
Plaintiff in Errorappellant (old-fashioned word)
Platlocal map showing real estate among landmarks (eg, mountains; roads; etc.)
Pleadingsbriefs/documents/motions that form the pillars of a legal dispute
Pledgepayment (either of money or of goods)
Plenaryfull; undisturbed; unqualified (ie, fully briefed)
Poll Taxa flat tax that is imposed on everyone within a specified territory
Polygamyhaving multiple wives/husbands at the same time
Ponzi Schemea fraudulent investment scam that uses money from new investors to reward old investors
Portfolioa group of owned securities (eg, bonds, stocks, etc.)
Possessiondominion over a thing/property
Possessory Actiona lawsuit to obtain/maintain real property
Possessory Interestthe right to have dominion over certain land
Post Morteman autopsy
Postingthe bank's process of honoring a customer's payment
Postnuptial Agreementcontract between a married couple – that establishes how things will be split upon death/divorce
Pourovera clause in a will that assigns assets to an established trust
Power Coupled with an Interestauthority over something that you care about
Power of Appointmentauthority over someone else's affairs (connoting wills; trusts; etc.)
Power of Attorneyauthority over someone else's affairs
Praecipeto command (see writ of garnishment; etc.)
Precatoryadvisory language that does not command/obligate action
Precedentpreviously decided case that acts as authority for disposing of future cases
Preceding Estatea prior estate that has limited future interest
Preferencesequence of an insolvent company's activity that allows it to prioritize creditors
Preferred Stocksmall ownership in a corporation; yet it has priorities over common stock
Prejudicebias
Premisesthe land and the surrounding structures
Premiummoney paid to keep insurance in force
Prenuptial Agreementcontract between fiancees – that establishes how things will be split upon death/divorce
Prep. of Evidencethe standard for adjudication that is loosely based on a 50-50 proposition
Presumptiona preliminary conclusion based on facts/allegations (also see inference)
Pretrial Conferencea formal meeting to discuss the case
Prevailing Partythe litigant who won the lawsuit
Prima Facieat face value; indicating a party's claims merit consideration
Primogeniturethe oldest son gets the entire inheritance
Principalthe person who acts as the company (also see agent)
Principalthe person who acts as the company (also see agent)
Prior Liena debt that has priority over other debts
Prioritypreference – in the context of corporate dissolution
Private Offeringselling corporate securities to a select group of accredited investors
Private Rulingdeclaratory statement issued to an individual taxpayer (regarding a potential transaction)
Privilegea legal sanctuary that prevents disclosure of sacred information
Privileged Communicationsthe communications that are most commonly protected by legal forums
Privityrelationships that arise out of mutual interests
Privysurrogate; proxy; (useful term in evaluating res judicata)
Pro Bonofree legal representation
Pro Formaa template projection
Pro Hac Vicetemporary (ex: out-of-state attorneys appearing pro hac vice for one case)
Pro Perone's own self
Pro Rataproportional
Pro Seself-represented litigant
Probateproving that a will & testament is legit
Proceedingthe succession of events in a legal action
Process Servicedelivery of writs and orders to notify an entity of legal matters
Proctorsomeone who manages another person's affairs
Professional Corporationa non-government body of similarly-qualified professionals
Profitrevenue minus expense/deductions/taxes/etc.
Profit a Prendrethe right to take something from someone else (French).
Projectiona prospective, financial calculation that uses various contingencies/decrements
Prolixityextraneous information in a pleading (see Rule 8 Fed. R. Civ. P.)
Promisea declaration to do something (or refrain from doing something)
Promissory Notea promise to pay at a specified time
Promotera founder who does what's needed to make a business profitable
Propertyanything valuable that is subject to ownership
Proprietaryowned by a particular person (who has not-yet patented the item)
Proprietary Interestthe right to possess something
Proprietorthe owner/founder
Prosecutionthe act of suing someone/something
Prospectivepertaining to the future
Prospectusa corporation's charter document for would-be investors
Protective Ordera request that a party/non-party be shielded from discovery
Protestnotifying a payor that he/she has failed to satisfy payment
Provisoa section of a document dedicated to exceptions/conditions/restraints/clarifications [of the underlying document]
Proxyan agent; a representative; a generic form of a power of attorney;
Prudent-Man Rulea doctrine compelling fiduciaries to adopt a risk-averse mindset
Public Domainproperty (eg, land/water/writings) that belongs to the government – and thus, is not susceptible to copyright infringements
Public Easementphysical structures/pathways that make life easy for the general public (eg, highways; sidewalks; etc.)
Public Officialan elected/appointed person holding a public office
Public Propertylands/structures that are dedicated to the public's use
Public Purposeto benefit the citizens of a society
Public Trustthe government's ownership of lands/waters that the citizenry ought to use/benefit-from
Public Usethe right of the citizens to use/benefit-from property that the government has condemned
Public Utilitya monopolistic company that provides crucial goods/services to the public
Puffingextravagant salesmanship
Purchasersomeone who buys something
Put Optiona derivative that allows a future stock sale at a specified price
Pyramidingusing unrealized profits to purchase additional investments
TermShort Definition
Qualified Pensionretirement plan that involves a trust (in order to satisfy tax deductibility)
Quashthe annullment of a discovery request
QuasiLat.: sort of; somewhat; almost (eg, quasi-judicial proceedings mimic judicial proceedings)
Questions of Lawlegal contentions that do not require a findings of fact (see Standard of Review)
Qui Tamtaking legal action on behalf of - and alongside (sometimes) - the government
Quia Emptoresenglish law that abolished private infeudation; thereby permitting voluntary transfers
Quid Pro Quotransactional/harassing terms & conditions (I scratch your back, you scratch mine)
Quiet Enjoymentthe right to have unimpaired use/enjoyment of property
Quiet Titlea mild lawsuit to determine/confirm the title of a specific piece of property
Quitclaim Deedyou can have whatever belongs to me [inside that property] – if anything
Quo Warrantoan extraordinary writ that asks 'with what authority?'
Quoruma panel of decision-makers
Quotationstatement of an item's price
TermShort Definition
Raceancestry
Racketeeringorganized crime
Raised Checkcheck that has been improperly altered
Ransommoney paid to rescue a captured person/thing
Ratablepermissibly quantified with a figure
Ratea multiplier used for various purposes
Rate of Returna multiplier used to earn investment income
Ratificationconfirmation/establishment (typically of a new legal doctrine/act/law)
Rational Basisreasonable grounds for a government rule (compare with strict scrutiny)
Real Estateall possible interests in land
Real Propertyland (and the structures upon it)
Realizationconverting an asset into money
Realtyreal property
Rebuttal Evidenceinformation that contradicts an opponent's claim
Recallremoval [of a public official] from public office (compare with disqualification; recusal; etc.)
Recapitalizationchanging a corporation's capital structure
Recapturea remedy for wrongful tax savings
Receiveran entity that oversees the finalization of an insolvency
Receivershipa stage of insolvency in which the authorities direct someone to dissolve a corporations assets/etc.
Recognitionimposing an income tax
Recordthe docket and all material submitted to the tribunal/court
Record Datecutoff date for receiving stock privileges/dividends
Record Ownerthe property owner – according to public records
Recording Actsa ledger showing property ownership
Recourselegal vehicle for recovering unpaid debts
Recusalthe removal of a judge from a case
Red Herringa distraction (one with grandstanding talking points); also see straw man
Redeemable Bonda loan that the seller/issuer can immediately request re-payment on
Redemptionregaining possession via purchase
Redressremedy/relief/solution to a legal woe
Reentryregaining possession via a contractual arrangement
Referendumregular people demanding review of official legislation (compare with initiative)
Refinancingchanging a corporation's capital structure
Refundingselling investments to satisfy outstanding financial obligations
Refusaldecision to not perform an act (or neglect to do so)
Regional Stock Exchangea stock exchange that is based outside of NYC.
Registerto enter the names of a corporation's stockholders/bondholders
Registered Representativestock market salesperson
Registration Statementprospectus (ie, a document extolling virtues of investing in the company)
Registry of Deedslist of conveyances
Regulation Athe SEC's "small issue" exemptions
Regulation Dthe SEC's 'private offerings' exemptions
Regulation Tthe SEC's governance over credit extended to stock purchasers
Regulation Uthe SEC's governance over credit extended to bank-based stock purchasers
Regulation Zthe FRB's supervision of member banks' compliance with cost-of-credit disclosures
Regulationswidespread rules/codes issued/governed by administrative agencies (ie, 'regulatory bodies')
Regulatory Agencygovernment organizations that police specific realms/activities of public interest
Rehearingto re-try the issues
Reinstateto place back into your original job/role (see Title VII)
Reinvestto take your capitalized gains to purchase additional investments
REITa financial intermediary for the real estate debt market
Relation Backa legal operation permitting a recent event to be treated like a past event
Relatorthe private individual who initiated the ex rel proceeding
Releaseto forfeit a claim/issue (usually within the context of a settlement)
Releaseto forfeit a claim/issue (usually within the context of a settlement)
Relevant Marketa term used in examining antitrust violations
Reliefthe solution to the immediate problem (also see remedy)
Remainderleftovers from a property conveyance
Remaindermana person who holds interest in a remainder (ie, the leftovers)
Remandto send back (ie, an appellate court tells a lower court to correct something)
Remedythe cure for the alleged wrongdoing
Remitto send payment
Remitterrestoring your good title [to land] upon entering it
Removaltransferring a case from one court to another
Remove Cloud on Titlea mild lawsuit to determine/confirm which instruments convey a particular piece of property
Renderissuing the final decision/verdict
Renewalcontinuation of an ongoing contract
Rentperiodic remittance for usage
Renvoiusing a foreigner's laws to adjudicate a lawsuit
Reorganizationrearranging a corporation's stock portfolio
Repealnullify/get-rid-of (typically within the context of a statute/law)
Replevina legal action to recover personal property that has been withheld
Replevina legal action to recover personal property that has been withheld
Replya response to a response/answer (usually requires leave of court)
Reportsgrouped-decisions that are published for the public's consumption
Repossessionseizure of secured goods
Representstand-in for another person/entity
Representativesomeone who acts for another person in a special capacity
Republicationreviving a will (usually with the use of a codicil)
Repudiationan affirmative refusal to perform an obligatory act
Request for Admissiondiscovery tool that asks a party to admit information
Request for Productiondiscovery tool that asks someone to give you legally-pertinent information
Resa thing; the topic
Res Judicataclaim preclusion; once a cause has been litigated it can't be re-litigated
Rescindcancel/annul
Rescissioncancellation
Reservationa large tract of land that has been devoted for a specific purpose
Reservelarge corporate savings intended to meet business dealings
Reserve Clausecontractual provision giving strong/exclusive right to a person's services
Residuary Clausecontractual provision granting undisposed of legacies to a specific beneficiary
Residuary Estatethe part of the estate that remains undisposed of
Residuary Legacya category for all remaining assets
Respondeat Superiorthe parent company/agency (ie, where the buck stops)
Respondentthe petitioner's opponent
Restraint of Tradeillegal impediments on a free market system
Restraint on Alienationunlawful impediments on a the free transfer of property
Restricted Securitiesstocks that are sold via nonpublic transfers
Restrictive Covenantcontractual prohibition against specified usage [of transferred property]
Retail Installment Contractretaining title/interest-in sold goods
Retirement Planan investment vehicle that saves an employee's money [for a future date]
Returnreport of a taxpayer's earnings
Revenueincome that has been derived from any source
Revenue Billslegislation that levies taxes
Revenue Rulingdeclaratory judgment issued to the public (regarding certain tax-based circumstances)
Reversalundoing a lower court's decision (eg, reversing an order of dismissal)
Reversionretaining interest in conveyed land
Revestreturning to the original owner's possession
Reviewto reexamine a case/action (usually by an appellate court)
Revocation of Willa deliberate act to nullify parts/all of a will
Rideran additional feature to an insurance policy
Right of Electiona spouse's legal right to choose how to receive her inheritance
Right of Waypermission to proceed on a shared pathway
Right to Conveyagreement that the grantor can convey an estate that has proper quality
Riparian Rightsusage/ownership rights of water embanked lands
Ripenessmaturation of facts that will permit adjudication
Riskexposure to loss
Risk Capitalinvested funds that are exposed to the losses that a business may suffer
Risk of Lossexposure to financial damage
Round Lot Shareholdersshareholders holding portfolios with 100 shares/block
Ruleguidance on conduct
Rule Against Perpetuitiespolicy prohibiting property interests from taking more than 21 years to vest
Run with the Landdoctrine establishing permance of a contractual provision (down to all descendants)
TermShort Definition
Sailor's Willan orated will & testament (which receives less stringent regulations)
Salablelegal, quality goods at proper prices
Salea stamp that authenticates a legal document
Sale and Leasebackarranging to sell property that will immediately be leased back to you
Sale or Exchangevalue-for-value disposition of property
Salvagevalue of a distressed/rescued asset
Samplesubset models the whole
Sanctionpunish (in other contexts: reward)
Satisfactioncompletion/perfection of an obligation
Save Harmlessindemnify; preclude from liability
Scienterguilty conscience
Scope of Employmentjob-related duties
Scutageproperty tax that was used for the king's army
Seala stamp that authenticates a legal document
Sealed Instrumenta contract that features a seal next to the signature(s)
Sealing Recordsremoving court records from the public's eye
Seasonaltemporary, and based on specific times of year
SECsecurities & exchange commission (a federal agency that regulates stocks/bonds/sellers/dealers/etc.)
Second Mortgagea refinancing of secured property – while not requiring additional liens
Secondary Distributionstock offering that succeeds the initial offering
Secondary Partya backup debt-satisfier
Secured Creditora lender who obtained collateral
Securitiesfinancial instruments that are tied to a corporation's earnings
Securities Actstwo federal laws aimed at policing stock market trading
Securityan investment that gives capital to a money-generating entity
Security Deposita down payment
Security Interestcaring about something by proxy of an investment
Seisedcondition of legally owning realty
Seisininterest in a freehold estate (ie, ownership)
Self-Dealinginsider trading
Self-Helpsolving your problems on your own (without breaching the peace)
Sell Shortto sell a stock/asset with the hopes of buying it back – at a lower price
Sellera person who consummates an exhange of goods
Separate but Equallongheld legal tradition commanding racial segregation
Separation Agreementa divorce-like contract between spouses
Separation of Powerscore constitutional mandate that each branch of government must mind its own business
Sequestrationquarantine/separate case participants (eg, witnesses, jurors) to prevent tampering
Seriatimone-by-one (ie, granular records)
Servantthe person who takes the employee role (see independent contractor)
Servient Estatea property that is subject to being used by the dominant estate
Set Asideto nullify (to render void)
Setoffamount that can be used to offset a tax deficienty
Settlementamicable resolution of matters
Settlora person who creates a trust – for a beneficiary – by giving property to someone else
Severable Contractan agreement that can be broken into multiple parts (for multiple parties)
Severancemoney that a company pays to a departing employee
Shallmandatory; must. The term denotes a ministerial duty
Sham Pleadingan answer/complaint that is wholly false
Sharea unit of stock
Share and Share Alikedivide equally
Shareholderan investor who owns stock [in a company]
Sheriff's Salea forced sale of defaulted property
Short Ratea quick re-do of an insurance policy
Show Causedemonstrate (typically in response to a Court Order)
Sick Paywages for missed work (due to illness/injury)
Sight Draftdemand for immediate payment
Signaturea writing/mark that authenticates a document/instrument
Silent Partneran investor/principal who is either abstinent or anonymous
Sinking Fundmoney amassed to repay a debt
SIPCnonprofit private corporation that protect stock market participants
Socagea type of tenure that a vassal performed for his lord
Soldier's Willan orated will & testament (which receives less stringent regulations)
Sole Proprietorshipa one-man operation
Solvencya stage/status that denotes a companies good financial health
Soundhealthy mind/capacity
Sovereignthe governing body that has dominion over a case
Sovereign Immunitythe government's protection against lawsuits (see 11th Amendment (US))
Specialtycontracts that were valid despite the absence of consideration
Speculationswiftly trading securities/goods for the sake of profiteering
SpendThrift Trusta restricted trust that minimizes a beneficiary's extravagant spending
Spoilationhiding/destruction of material evidence (see concealment)
Spot Pricethe current price/value of the stock
Squeeze Outacts to eliminate/minimize minority shareholders
Standard Deductionsa prescribed reduction in taxable income
Standinga legal/legitimate right to sue/complaint
Stare Decisisprecedent
State Bonda loan that is issued/sold by a state government
Statementan assertion (typically, one which the party intends to prove)
Statutea law
Statute of Fraudsrequirement that contracts must be signed – in order to be enforceable
Statute of Limitationsthe time period in which claims must be made (or be forever barred)
Statute of Usesold English law preventing separate of legal estates from equitable estates
Statute of Willsold English law prescribing conditions for a valid will
Statutory Lawthe statutes created by the legislature
Stayto halt proceedings until further notice
Stock Certificatea receipt for a corporate share
Stock Clearinga clerical task surrounding the physical delivery of traded stocks
Stock Exchangea place where people/entities buy & sell securities
Stock Issuepublic offering of corporate shares
Stock Marketa place where people/entities buy & sell securities
Stock Optiona financial add-on that gives the option owner some privilege/right
Stock Splitdividing the outstanding shares into larger numbers
Stockholders' Derivative Actiona lawsuit that shareholders take [against corporate assailants] on behalf of its corporation
Straddlefinancial derivatives position that only cares about stock volatility
Straw Mana fictitious person/scenario erected for the purpose of arguing against it (ie, grandstanding)
Street Namesecurities held in the broker's name
Strict Constructionusing the literal meanings of statutes and laws
Strict Liabilityliability without fault (compare vicarious liability)
Strict Scrutinytaking a close look at a rule/statute that will impact fundamental rights
Strike Pricethe ultimate purchase price for share of corporate stock
Sua Sponteon the court's own volition (a spontaneous act by the court)
Subject Matterthe topic for which the claims arise
Subject to Opena flexible inheritance that permits an increase/decrease in heirs
Subleaserent your rental to someone else
Subpoenawrit commanding someone to appear in court, produce information; or do both.
Subrogationsubstituting one creditor for another
Subrogeethe entity that succeeds the legal rights/claims of another
Subrogorthe entity whose legal rights/claims are acquired by another entity
Subsidiarya company that is largely owned by a larger company
Substitutionreplacing one legatee with another
Subtenantthe person who rents from another renter
Successioninheriting property from a preceding heir
Successive Termsa continuous series of periods
Successorthe person who follows (and assumes) the rights/roles/etc of a prior person
Sui Jurisreaching emancipation/independence
Sum Certaindamages that can be calculated accurately (synonym for "liquidated damages")
Sum Certaindamages that can be calculated accurately (synonym for "liquidated damages")
Summary Judgmentfinal decision on the case that precludes the need for a trial/hearing
Summonsa writ commanding a defendant to answer to a complaint
Sunday Closing Lawslaws forbidding commercial activity on Sundays
Suppression of Evidenceblocking information from being used in a litigation
Supralatin word for above; (antonym of infra)
Supremacy ClauseArt. VI Β§2 US Constitution (the federal government rules over states)
Supreme Courtthe highest court of the land; the court of final review
Surchargean additional fee/penalty
Suretya person/entity that will guarantee payment/action that has been conferred upon another person/entity (ie, its principal)
Surplusassets minus liabilities/debts/etc.
Surrenderto deliberately cancel a policy (while retrieving accumulated cash value)
Suspensiona temporary break featuring negative connotations (compare with abeyance)
Sustainto approve the request (ie, to approve an objection)
TermShort Definition
Tackingadding/joining things together
Tangible Propertypossessable items that can be observed by the senses (ie, sight, touch, smell, etc.)
Taxmoney that the government takes from its citizenry
Tax Benefit Doctrineconcept that allows a taxpayer to balance out his/her varying tax liabilities
Tax Courtadministrative agency that hears adverse IRS rulings
Tax Credita reduction in the amount of tax owed
Tax Deductiona reduction in the amount that can be taxed
Tax Exemptnot subject to tax
Tax Expenditurelosses that the government experiences due to certain tax benefits/releases/reliefs
Tax Liabilitya taxpayer's total tax bill
Tax Preference Itemsitems that – due to receiving preferential IRS treatment – fall victim to aggregate taxation
Tax Ratethe percentage rate of tax imposed
Tax Salea sale of land – for the nonpayment of taxes
Tax Shelterfinancial vehicles/structures that can be used reduce tax liability
Taxable Estatenet amount that is used for calculating estate tax liability
Taxable Giftnet amount that is used for calculating gift tax liability
Taxable Incomethe net amount of personal revenue that is subject to a tax rate
Taxable Yearthe calendar year in which taxes accrue
Taxing Powercongress's authority to levy/collect taxes
Taxpayera person/entity that pays taxes
Tenancya tenant’s right to possess an estate
Tenanta person who rents property from someone else
Tenant in Feea person who can reside on an estate forever
Tenderan offer to pay/perform coupled with tangible payment
Tender of Deliveryplacement of goods at the buyer's location
Tender Offera publicly announced purchase-of-stock that will give the buyer control of the corporation
Tenementpermanent property
Tenurethe right to hold
Term Insurancea type of insurance that ends at a specified date/time
Terminable Interestan interest in property that will end (based on time/conditions)
Testacythe condition of leaving a will
Testamentstatement outlining the disposal of personal property – upon death
Testamentary Capacityhaving a mind that is sound enough to create a will
Testamentary Dispositiona gift that only transfer upon the giver's death
Testamentary Intenta legal determination that a purported will is [indeed] a will
Testatorthe person whom the will covers (ie, the upcoming dead person)
Testimonyoral information submitted under oath
Time Sharingan agreement – among multiple people – to share ownership of a property
Titleownership
Tollextend the time to perform an act (see Statute of Limitations)
Tombstone Ada newspaper advertisement that announces the sale/purchase of corporate stock
Torta wrong - in the eyes of society (eg. a judge committing perjury)
Tortfeasorone who wrongs another (within the confines of society's expectations)
Total Disabilityinability to perform the core job duties
Total Lossfull destruction of an item/property
Trade Fixturea commercial item (eg, a sign) that is erected upon rented property
Trade Namea name that identifies a particular merchant's business
Trade Secretsany [unpublished] formula/process/tool that gives its owner a commercial advantage
Trade Usagea practice that is widely accepted/relied-upon within an industry
Trademarkan insignia that identifies a particular merchant's goods
Transactionan event that has tax consequences
Transcriptwritten record (verbatim) of an official proceeding
Transferto give to another person/entity
Transfer Agentthe recordkeeper of a corporation's shareholders
Transfereethe person/entity that receives the property
Transferee Liabilitya tax liability that is imposed on the person who has received the transfer
Transferorthe person/entity that provides the transfer
Traversea pleading that denies the allegations (eg, an answer/response)
Treasure Trovea valuable thing that has been hidden
Treasurythe division of a government/entity that handles financial affairs
Treasury Billa loan to the government that matures in 1-year-or-less
Treasury Bonda loan to the government that matures after 5-years have passed
Treasury Notea loan to the government that matures between 1-year and 5-years
Treasury Stockstock that a company re-purchased after previously issuing it out
Trial Courtthe court that adjudicates the facts and laws of a case
Tribunalthe governing body that has original jurisdiction
Troverold law that recovered personal property that was wrongly converted
Trustan entity that holds assets for the benefit of another person/group
Trust Certificatean item that is used to finance the purchase of railroad equipment
Trust Companya financial organization that acts as a trustee/fiduciary/agent for its customers
Trust Fundproperty that is held in trust – for the benefit of another person
Trust Indenturethe terms & conditions of a trust
Trusteethe person who controls the trust
Trustorthe person who creates a trust
Truth in Lending Actfederal law that requires lenders to fully-inform their borrowers
Tying Arrangementsalesman's requirement that a customer must buy the second product from that same salesman
TermShort Definition
U3Ccongressional permission to allow states/territories to adopt uniform laws/statutes
UCCa widespread code of laws governing various commercial transactions
Ultra Viresexcess of authority
Ultrahazardous Activityan uncommon, risky, and harmful activity that gives rise to liability
Unclean Handsactively causing the problem that you took legal action on
Unconscionabilityso unreasonably detrimental that it renders itself to be unenforceable
Unconstitutionalan act that does not conform with the constitution
Underwriteto evaluate the insurability of a prospective customer
Undivided Interesteach property owner has the right to use/enjoy the entire property
Undue Influenceimpact on another person that is so strong that it [itself] is rendered invalid
Unearned Surpluspaid-in-surplus; revaluation surplus; donated surplus; etc.
Unfair Competitionmimicking a competitor for unjust enrichment
Unfair Labor Practicecoercive/discriminatory/overreaching activities conducted by unions/employers
Unfitunsuitable for a particular use/service
Uniform Gifts to Minors Acta uniform set of laws that creates a statutory method for making a gift [in trust] to minors.
Unit Investment Trustan unmanaged portfolio of bonds that are sold in $1,000 denominations
Unitieslegal requirements necessary to create certain kinds of tenancies
Universal Agentan agent authorized to transact all the business of his/her principal
Unjust Enrichmentwrongfully benefiting at the expense of another person
Unlawful Detainerholding possession without having the right to do so
Unlisted Securitya stock/bond that is not regulated by the SEC
Uptickindicia that the latest trade [in a stock] is at a higher price than the previous trade
Usethe right to enjoy the benefits that flow from property
Usufructthe right to enjoy/profit-from the vested property [of someone else]
Usurious Contracta predatory lending contract
Usurya predatory interest charge (typically found in distressed loans)
TermShort Definition
Vacateto nullify [a prior order]
Valuationthe determination of how much reserve an insurer should hold
Valuethe monetary worth of a thing
Varianceproofs at trial that are different from charges at indictment
Vassala land-based servant
Venalreadibly bribed/corrupted
Vendto sell
Vendeea buyer
Vendora seller
Vendor's Liensecuring a vendee's payment by collateralizing his/her property/estate
Venirethe manner in which a jury is summoned
Venuethe place where the issues can be adjudicated
Verdictthe final decision handed down by the finder of fact
Verificationthe certification of the authenticity/veracity of something (typically, a legal statement)
Verifiedthe officially certified authenticity/veracity of something (typically, an oath)
Vestedmatured
Vexatious Litigationexcessive/frivolous litigation
Vicarious Liabilitybeing held accountable for a subordinate's actions (see master-&-servant)
Villenagea form of tenure that required the tenant to perform all services [for his/her lord]
Vitiateto nullify/void
Voidinvalid; worthless
Voir Direprocess of evaluating prospective jurors
Voting Trustaccumulating corporate shares for the purpose of controlling the corporation
TermShort Definition
Waiversurrendering a right/requirement
Wantonreckless disregard
Warda person whom the law regards as incapable of managing his/her own affairs
Wardshipa form of [common law] guardianship
Warehouse Receipta receipt that is issued by a person (bailee) engaged in the business of storing goods for hire
Warrantan order from a judge that permits search/seizure (see 4th Amendment)
Warrantyinsurance on a product/property
Warranty Deeda document that warrants that the grantor has the title he/she claims to have
Wastean act that decreases the value of property
Wasting Assetan asset that will be consumed through its use;
Watered Stockcorporate shares that are being offered at an inflated price
Weight of the Evidencehow important the information is
When Issued Securitiesa conditional trading basis for authorized stock that is yet-to exist
Whiplash Injurya neck injury commonly associated with rear-end car crashes
White-Collar Crimenonviolent offenses that are committed by executives/officials
Whole Life Insurancean agreement by which a beneficiary receives a fixed death benefit
Widowa woman whose husband has died
Widowera man whose wife has died
Willa contract that distributes inheritance
Willfulintentional; connoted with desire to inflict damage (also see wanton)
Winding Upthe process of liquidating a corporation
Withdrawalthe removal of money/etc from the place where it is kept
Withholdingportions of earned wages that an employer removes from each salary payment
Without Recoursewithout further rights regarding some matter
Witnesssomeone who supplies testimonies and/or affidavits
Words of Limitationwords used that actually indicate the type of estate that is being taken by the grantee
Words of Purchasewords in a property transfer that indicate who takes the estate
Work Productlegal notes/materials that are sacred/privileged
Workers Compensation Actslaws holding employer's liable for on-the-job injuries/illnesses
Worthier Titleconcept that confers supremacy of a living-man's gift over a deadman's gift
Wraparound Mortgagean advantageous second mortgage featuring lower cash flow demands
Writa legal order compelling someone to act
Writ of Errora higher-court command [to a lower court] to send up the record (ie, Certiorari)
Writ of Prohibitiona legal order directing an officer/governing body to refrain from acting
Wrongful Death Statutea law that lets people sue each other for lethal misconduct
TermShort Definition
X[substitute] signature (typically used by people with an impairment that affects a full handwritten signature)
TermShort Definition
Yellow Dog Contracta contractual provision that prohibits labor union membership
Yieldthe current rate of return
Yield-to-Maturitya calculation of yield on a bond that accounts for capital gains/losses
TermShort Definition
Zone of Employmentthe physical area that an employer is legally liable for
Congratulations! You're getting froogled up on this Glossary of Pertinent Terms!

Feel free to use it throughout your financial/insurance life.

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www.FroogleMe.com