Search Results for: CONVERSION RATIO

duration

duration. 1. The length of time that something lasts (the duration of the lawsuit). duration of interest. The length of time that a property interest lasts. duration of trust. The length of time that a trust exists. [Cases: Trusts 60. C.J.S. Trover and Conversion § 117.] 2. A length of time; a continuance in time

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no fault divorce

A divorce in which the parties are not required to prove fault or grounds beyond a showing of the irretrievable breakdown of the marriage or irreconcilable differences. • The system of no-fault divorce has been adopted throughout the United States. By 1974, 45 states had adopted no-fault divorce; by 1985, every state but New York

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active trust

A trust in which the trustee has some affirmative duty of management or administration besides the obligation to transfer the property to the beneficiary. — Also termed express active trust; special trust; operative trust. Cf. passive trust. [Cases: Trusts 135. C.J.S. Trover and Conversion §§ 13, 242.]

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