spuilzie (spuul-yee), n. Scots law. 1. The wrongful taking of corporeal movable property from another’s possession. • This is the Scottish equivalent of common-law conversion. 2. An action to recover wrongfully taken movables, and often for either profits made with them while in the taker’s possession or reparations for unjust dispossession. — Also spelled spulzie; […]
price amendment. Securities. A change in a registration statement, prospectus, or prospectus supplement affecting the offering price, the underwriting and selling discounts or commissions, the amount of proceeds, the conversion rates, the call prices, or some other matter relating to the offering price.
exchange, n. Commercial law. 1. The act of transferring interests, each in consideration for the other. [Cases: Exchange of Property 1. C.J.S. Exchange of Property §§ 2–3.] bargained-for exchange. See BARGAINED-FOR EXCHANGE. like-kind exchange. See LIKE-KIND EXCHANGE. tax-free exchange. See TAX-FREE EXCHANGE. 1031 exchange. See 1031 EXCHANGE. 2. Money or negotiable instruments presented as payment;
cotrustee. One of two or more persons in whom the administration of a trust is vested. • The cotrustees form a collective trustee and exercise their powers jointly. — Also termed joint trustee. See TRUSTEE. [Cases: Trusts 238. C.J.S. Trover and Conversion § 345.]
Consolidated Omnibus Budget Reconciliation Act of 1985. A federal statute requiring employers that offer group health coverage to their employees to continue to do so for a prescribed period (usu. 18 to 36 months) after employment has terminated so that the former employee can continue to benefit from group-health rates until becoming a member of
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legal fiction. An assumption that something is true even though it may be untrue, made esp. in judicial reasoning to alter how a legal rule operates; specif., a device by which a legal rule or institution is diverted from its original purpose to accomplish indirectly some other object. • The constructive trust is an example