libripens (lib-r[schwa]-penz), n. [Latin] Roman law. A person who holds a bronze balance during actual or ritual sales, such as the ceremonies of emancipating a son from his father or conveying important property; a scale-holder. • The purchaser strikes the balance with a piece of bronze to symbolize completion of the sale. The seller then […]
The excess of merchandise exports over merchandise imports during a specific period. Cf. trade deficit under DEFICIT.
voluntary ignorance. Willful obliviousness; an unknowing or unaware state resulting from the neglect to take reasonable steps to acquire important knowledge. [Cases: Insurance 2965; Negligence 212. C.J.S. Insurance §§ 584–585; Negligence§§ 44, 46–55.]
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key person. An important officer or employee; a person primarily responsible for a business’s success. — Also termed key man.
cultural property. Int’l law. Movable and immovable property that has cultural significance, whether in the nature of antiquities and monuments of a classical age or important modern items of fine arts, decorative arts, and architecture. • Some writers prefer the term cultural heritage, which more broadly includes intangible cultural things such as folklore, crafts, and
drawback. A government allowance or refund on import duties when the importer reexports imported products rather than selling them domestically. 19 USCA § 1313. [Cases: Customs Duties 100. C.J.S. Customs Duties §§ 127–134.]
Lacey Act. A federal law, originally enacted in 1900, that permits states to enforce their own game laws prohibiting the importation of animals from other states or countries.16 USCA §§ 661 et seq. See GAME LAW. [Cases: Game 3. 5.]
appurtenance ([schwa]-p[schwa]rt-[[schwa]-]n[schwa]nts), n. Something that belongs or is attached to something else (the garden is an appurtenance to the land). “The word ‘appurtenances’ which in former times at least was generally employed in deeds and leases is derived from the word apparentir which is Norman French and means to belong to. Speaking broadly, the word
goodwill. A business’s reputation, patronage, and other intangible assets that are considered when appraising the business, esp. for purchase; the ability to earn income in excess of the income that would be expected from the business viewed as a mere collection of assets. • Because an established business’s trademark or servicemark is a symbol of
A commercial or professional tenant with an established reputation that leases substantial, and usu. the most preferred, space in a commercial development. • A prime tenant is important in securing construction financing and in attracting other desirable tenants.