long, adj. 1. Holding a security or commodity in anticipation of a rise in price (a buyer long on pharmaceutical stock). 2. Of or relating to a purchase of securities or commodities in anticipation of rising prices (a long position). Cf. SHORT. long, adv. By a long purchase; into or in a long position (bought […]
child endangerment. The placing of a child in a place or position that exposes him or her to danger to life or health. — Also termed endangering the welfare of a child. [Cases: Infants 13, 156. C.J.S. Infants §§ 5, 92–93, 95–98.] physical child endangerment. Reckless behavior toward a child that has caused or could
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tax-straddle rule. A rule preventing undue deferral of tax on income or conversion of ordinary income or short-term capital gain into long-term capital gain by disallowing the premature deduction of a loss on sale or disposition of one leg of a straddle position (e.g., a promise to sell offset by a promise to buy, such
A power created or reserved by a person having property subject to disposition, enabling the donee of the power to designate transferees of the property or shares in which it will be received; esp., a power conferred on a donee by will or deed to select and determine one or more recipients of the donor’s
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reporter of decisions. The person responsible for publishing a court’s opinions. • The position began historically — in the years before systematic reporting of decisions was introduced — when lawyers attended the sessions of particular courts, were accredited to them by the judges, and reported the decisions of that court. Today, the reporter of decisions
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defective, adj. 1. (Of a position, right, act, or process) lacking in legal sufficiency (defective execution of documents) (defective service of process). 2. (Of a product) containing an imperfection or shortcoming in a part essential to the product’s safe operation (defective wiring caused the accident). [Cases: Products Liability 8. C.J.S. Products Liability §§ 11–15.]
power of appointment. A power created or reserved by a person having property subject to disposition, enabling the donee of the power to designate transferees of the property or shares in which it will be received; esp., a power conferred on a donee by will or deed to select and determine one or more recipients
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An unfunded pension plan that is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of managers or highly paid employees. • Top-hat plans are generally not subject to the broad remedial provisions of ERISA because Congress recognized that certain individuals, by virtue of position or compensation level,
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patentable subject matter. Things that by law can be patented; any machine, process, manufacture, or material composition, or an improvement to such things, that (1) is discovered or invented, (2) is new and useful, and (3) meets the statutory conditions and requirements to qualify for a patent. • Patents may be issued for “any new
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sidebar. 1. A position at the side of a judge’s bench where counsel can confer with the judge beyond the jury’s earshot (the judge called the attorneys to sidebar). 2. SIDEBAR CONFERENCE (during the sidebar, the prosecutor accused the defense attorney of misconduct). 3. A short, secondary article within or accompanying a main story in