Preferred stock that may be repurchased by the issuing corporation at a prestated price, usu. at or slightly above par value. [Cases: Corporations 68. C.J.S. Corporations §§ 177, 180–183.]
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Rule 11. Civil procedure. 1. In federal practice, the procedural rule requiring the attorney of record or the party (if not represented by an attorney) to sign all pleadings, motions, and other papers filed with the court and — by this signing — to represent that the paper is filed in good faith after an
elsewhere, adv. In another place. • In shipping articles, this term, following the designation of the port of destination, must be construed either as void for uncertainty or as subordinate to the principal voyage stated in the preceding words. [Cases: Seamen 7. C.J.S. Seamen §§ 13, 15.]
EOE.abbr. 1. See equal-opportunity employer under EMPLOYER. 2. Errors and omissions excepted. • This phrase is sometimes appended to an account stated to allow for slight errors. See errors-and-omissions insurance under INSURANCE.
Hist. In a plaintiff’s pleading in an action for debt, boilerplate language that is not founded on the circumstances of the individual case but is intended to guard against a possible variance and to enable the plaintiff to take advantage of any ground of liability that the proof may disclose. • In the action for
videlicet (vi-del-[schwa]-set or -sit). [Latin] To wit; that is to say; namely; SCILICET. • The term is used primarily to point out, particularize, or make more specific what has been previously stated in general (or occas. obscure) language. One common function is to state the time, place, or manner when that is the essence of
A loan in which the interest is calculated at the stated rate for the loan agreement’s full term for the full principal amount, and then the interest is added to the principal before installment payments are calculated, resulting in an interest amount higher than if it were calculated on the monthly unpaid balance. • Consumer
buy-back clause. 1. Contracts. A provision that requires a manufacturer or franchiser to buy back inventory and equipment if the distributor or franchisee’s contract is terminated prematurely. 2. Contracts. A clause allowing the seller of property the right or opportunity to repurchase the property under stated conditions. 3. Insurance. An insurance-policy clause that provides for
leges Edwardi Confessoris (lee-jeez ed-wahr-dI kon-f[schwa]-sor-is), n. [Latin “Laws of Edward the Confessor”] Hist. A legal treatise written between 1130 and 1135, of dubious authority, compiling English law as it stood at the end of the reign of Henry I. “[W]e have a book [leges Edwardi Confessoris] written in Latin which expressly purports to give
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plus petitio (pl[schwa]s p[schwa]-tish-ee-oh). [Latin “overclaim” or “claiming too much”] Roman law. A claim for more than is due; esp., the mistake of claiming more in one’s pleadings than is due. • This was fatal to the action under classical law. Under cognitio extraordinaria, however, a claimant could continue the action, but could be liable