balanced economy
An economy in which the monetary values of imports and exports are equal.
Search Results for: IMPORT
merchant appraiser
merchant appraiser. An expert appointed by a customs officer to reexamine and revalue imported goods for customs purposes. • The appraiser is usu. an experienced merchant who deals in or has dealt in goods of the character and quality of those at issue. An appraiser is appointed only when an importer requests one.
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office of honor
An uncompensated public position of considerable dignity and importance to which public trusts or interests are confided. [Cases: Officers and Public Employees 1. C.J.S. Officers and Public Employees §§ 1–9, 12–17, 21.]
accessio
accessio (ak-s[schwa]sh-ee-oh) n.[Latin] Roman law. 1. The doctrine by which something of lesser size, value, or importance is integrated into something of greater size, value, or importance. “If the identity of one thing (the accessory) is merged and lost in the identity of the other (the principal), the owner of the principal is the owner
income averaging
income averaging. Tax. A method of computing tax by averaging a person’s current income with that of preceding years. [Cases: Internal Revenue 3092. C.J.S. Internal Revenue § 334.] “A distinct departure from the strict annual system of taxing income is the concept of averaging income, allowed until repeal by the 1986 T.R.A…. [T]he rate at
original package doctrine
original-package doctrine. Constitutional law. The principle that imported goods are exempt from state taxation as long as they are unsold and remain in the original packaging. • The Supreme Court abolished this doctrine in 1976, holding that states can tax imported goods if the tax is nondiscriminatory. See IMPORT–EXPORT CLAUSE. [Cases: Commerce 77.10(3). C.J.S. Commerce
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ex certa scientia
ex certa scientia (eks s[schwa]r-t[schwa] sI-en-shee-[schwa]). [Latin] Of certain or sure knowledge. • This phrase was anciently used in patents, and imported full knowledge of the subject matter on the part of the sovereign.
lord privy seal
Lord Privy Seal (priv-ee).English law. An officer who has custody of the privy seal and who authenticates either a state document before it passes to receive the Great Seal or a document that does not require the Great Seal because of its minor importance. • The Lord Privy Seal has nominal official duties but is
cert pool
cert pool. A group of clerks in the U.S. Supreme Court who read petitions for certiorari and write memorandums for the justices with a synopsis of the facts and issues and often a recommendation of whether a grant of certiorari is warranted. “The cert pool is not without its critics. Some commentators have contended that
gray market
A market in which the seller uses legal but sometimes unethical methods to avoid a manufacturer’s distribution chain and thereby sell goods (esp. imported goods) at prices lower than those envisioned by the manufacturer. See PARALLEL IMPORTS.