takeover defense. A measure taken by a corporation to discourage hostile takeover attempts. — Often shortened to defense. — Also termed shark repellent. structural takeover defense. A legal mechanism adopted by a corporation to thwart any future takeover bid without having any financial or operational effect on the target corporation. transactional takeover defense. A financial […]
A long-term lease of land that includes a covenant to erect or alter a building or other improvement. Cf. ground lease.
member. 1. Parliamentary law. One of the individuals of whom an organization or a deliberative assembly consists, and who enjoys the full rights of participating in the organization — including the rights of making, debating, and voting on motions — except to the extent that the organization reserves those rights to certain classes of membership.
impute (im-pyoot), vb. To ascribe or attribute; to regard (usu. something undesirable) as being done, caused, or possessed by (the court imputed malice to the defamatory statement). — imputation, n. — imputable, adj. “The word ‘impute’ comes from im (in) and putare (reckon). It means to bring into the reckoning, to attribute or to ascribe.
tax-benefit rule. The principle that if a taxpayer recovers a loss or expense that was deducted in a previous year, the recovery must be included in the current year’s gross income to the extent that it was previously deducted. — Also termed tax-benefit doctrine. [Cases: Internal Revenue 3089, 3138. C.J.S. Internal Revenue § 78.]
reasonable accommodation. 1. An action taken to adapt or adjust for a disabled person, done in a way that does not impose an undue hardship on the party taking the action. • Under the Americans with Disabilities Act, an employer must make reasonable accommodations for an employee’s disability. Examples of reasonable accommodations that have been
reasonable accommodation Read More »
An acquittal in which a jury convicts the defendant of a lesser included offense without com-menting on the greater offense. • Double jeopardy bars the retrial of a defendant on the higher offense after an implied acquittal. [Cases: Double Jeopardy 100.1.]
office. 1. A position of duty, trust, or authority, esp. one conferred by a governmental authority for a public purpose (the office of attorney general). [Cases: Officers and Public Employees 1. C.J.S. Officers and Public Employees §§ 1–9, 12–17, 21.] 2. (often cap.) A division of the U.S. government ranking immediately below a department (the
Income earned by a person, but not collected before death. • This income is included in the decedent’s gross estate for estate-tax purposes. For income-tax purposes, it is taxed to the estate or, if the estate does not collect the income, it is taxed to the eventual recipient. — Abbr. IRD. [Cases: Internal Revenue 4035–4039;
income in respect of a decedent Read More »
housebreaking. The crime of breaking into a dwelling or other secured building, with the intent to commit a felony inside; BURGLARY. • Burglary is now used more frequently than housebreaking. In England, for example, housebreaking was replaced in 1968 with statutory burglary, though the term is still used in Scots law. In some jurisdictions, housebreaking