administrative-convenience exception. Bankruptcy. A provision permitting a bankruptcy plan to have a separate classification for small, unsecured claims, to the extent that the separate classification will assist in a more efficient disposition of the estate, as by paying or eliminating the small claims earlier than other claims. 11 USCA § 1122(b). [Cases: Bankruptcy 3550. C.J.S. […]
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A tax on property acquired by succession or will and then removed from one state to another.
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A bond with interest payments or principal repayment tied to the price of a specific commodity, such as gold. • This type of bond, which has a low interest rate but provides a hedge against inflation because the commodity price will usu. rise, is often issued by a firm with a stake in the commodity.
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Commercial law. An instrument under which the issuer (usu. a bank), at a customer’s request, agrees to honor a draft or other demand for payment made by a third party (the beneficiary), as long as the draft or demand complies with specified conditions, and regardless of whether any underlying agreement between the customer and the
Travel Act. A federal law, enacted in 1961, that prohibits conduct intended to promote, direct, or manage illegal business activities in interstate commerce. • This statute was enacted to create federal jurisdiction over many criminal activities traditionally handled by state and local governments to help those jurisdictions cope with increasingly complex interstate criminal activity. 18
A river to which a riparian owner may claim ownership of the riverbed because the river is unnavigable or navigable only by vessels with shallow drafts. • A navigable private river is not wholly owned by a private person and cannot be closed to public use; people may still make ordinary use of the river
unitization. Oil & gas. The collection of producing wells over a reservoir for joint operations such as enhanced-recovery techniques. • Unitization is usu. carried out after primary production has begun to fall off substantially, in order to permit efficient secondary-recovery operations. It is also done to comply with well-spacing requirements established by state law or
secondary, adj. (Of a position, status, use, etc.) subordinate or subsequent. secondary, n. Hist. An officer of the courts of the King’s Bench and common pleas, so called because he was next to the chief officer. • By the Superior Courts (Officers) Act (1837), the secondary office was abolished. St. 7 Will. 4; 1 Vict.,
An indorsement that names no specific payee, thus making the instrument payable to the bearer and negotiable by delivery only. UCC § 3-205(b). — Also termed indorsement in blank; general indorsement. [Cases: Bills and Notes 188, 288. C.J.S. Bills and Notes; Letters of Credit § 153.]
presentment n. (1)起诉报告 大陪审团在未有申请公诉书〔bill of indictment〕的情况下根据自己对案件的调查和了解主动提出的书面报告，相当于申请公诉书。 (2)票据提示 指票据的持票人向出票人或承兑人、或其他票据债务人出示票据要求承兑或付款。