out of time
out of time. After a deadline; too late (because the statute of limitations expired before the action’s filing, this lawsuit is out of time and should be dismissed).
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supplemental rules for certain maritime and admiralty claims
Supplemental Rules for Certain Maritime and Admiralty Claims. A supplement to the Federal Rules of Civil Procedure, setting out procedures for suits in admiralty and maritime law.
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go hence without day
go hence without day. (Of a defendant to a lawsuit) to be finished with legal proceedings without any further settings on the court’s calendar. • Thus, a defendant who “goes hence without day” succeeds in getting a case finally resolved, usu. by dismissal. The phrase derives from the Law French phrase aller sans jour, and
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payout period
payout period. The time required for an asset to produce enough revenue to pay back the initial investment; esp., in oil-and-gas law, the time required for a well to produce a sufficient amount of oil or gas to pay back the investment in the well.
time
time. 1. A measure of duration. 2. A point in or period of duration at or during which something is alleged to have occurred. 3. Slang. A convicted criminal’s period of incarceration. dead time. Time that does not count for a particular purpose, such as time not included in calculating an employee’s wages or time
units of output depreciation method
A method by which the cost of a depreciable asset, minus salvage value, is allocated to the accounting periods benefited based on output (as miles, hours, number of times used, and the like).
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legitime
legitime (lej-[schwa]-tim), n. Civil law. The part of a testator’s property that his or her children (and occasionally other heirs) are legally entitled to regardless of the will’s terms. La. Civ. Code art. 1494. • The legitime cannot be denied the children without legal cause. In Roman law, the amount of the legitime was one-fourth
earnout agreement
earnout agreement. An agreement for the sale of a business whereby the buyer first pays an agreed amount up front, leaving the final purchase price to be determined by the business’s future profits. • The seller usu. helps manage the business for a period after the sale. — Sometimes shortened to earnout.