thirty-day letter. A letter that accompanies a revenue agent’s report issued as a result of an Internal Revenue Service audit or the rejection of a taxpayer’s claim for refund and that outlines the taxpayer’s appeal procedure before the Internal Revenue Service. • If the taxpayer does not request any such procedure within the 30-day period, […]
toll, n. 1. A tax or due paid for the use of something; esp., the consideration paid either to use a public road, highway, or bridge, or to maintain a booth for the sale of goods at a fair or market. [Cases: Bridges 33; Turnpikes and Toll Roads 37. C.J.S. Bridges §§ 65–69; Turnpikes and
perfection. Validation of a security interest as against other creditors, usu. by filing a statement with some public office or by taking possession of the collateral. Cf. ATTACHMENT(4). [Cases: Secured Transactions 81–96, 138–145. C.J.S. Secured Transactions §§ 3, 50–51, 53–77, 88, 90–102, 105–107, 118.] automatic perfection. The self-operative perfection of a purchase-money security interest without
The continuous perfection of a security interest for a limited period. • For example, a security interest in proceeds from the original collateral is perfected for ten days after the debtor receives the proceeds; the interest will become unperfected after this ten-day period unless certain statutory requirements are met. On most instruments, a secured party
temporary perfection Read More »
employer. A person who controls and directs a worker under an express or implied contract of hire and who pays the worker’s salary or wages. Cf. PRINCIPAL(1). [Cases: Master and Servant 1. C.J.S. Apprentices §§ 2, 11; Employer–Employee Relationship §§ 2–3, 6–12.] equal-opportunity employer. An employer who agrees not to discriminate against any job applicant
employee. A person who works in the service of another person (the employer) under an express or implied contract of hire, under which the employer has the right to control the details of work performance. — Also spelled employe. Cf. AGENT(1); INDEPENDENT CONTRACTOR. [Cases: Master and Servant 1. C.J.S. Apprentices §§ 2, 11; Employer–Employee Relationship