Search Results for: TERM OF ART

artificial person

An entity, such as a corporation, created by law and given certain legal rights and duties of a human being; a being, real or imaginary, who for the purpose of legal reasoning is treated more or less as a human being. • An entity is a person for purposes of the Due Process and Equal

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party wall

A wall that divides two adjoining, separately owned properties and that is shared by the two property owners as tenants in common. — Also termed common wall. [Cases: Party Walls 1–10. C.J.S. Party Walls §§ 1–59.]

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department of the interior

Department of the Interior. The cabinet-level department of the federal government responsible for managing the nation’s public lands and minerals, national parks, national wildlife refuges, and western water resources, and for upholding federal trust responsibilities to Indian tribes. • The Department also has responsibility for migratory-wildlife conservation; historical preservation; endangered species; surface-mined-lands preservation and restoration;

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termination fee

termination fee. A fee paid if a party voluntarily backs out of a deal to sell or purchase a business or a business’s assets. • Termination fees are usu. negotiated and agreed on as part of corporate merger or acquisition negotiations. The fee is designed to protect the prospective buyer and to deter the target

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nominal party

A party to an action who has no control over it and no financial interest in its outcome; esp., a party who has some immaterial interest in the subject matter of a lawsuit and who will not be affected by any judgment, but who is nonetheless joined in the lawsuit to avoid procedural defects. •

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