antapocha
antapocha (ant-ap-[schwa]-k[schwa]). [Latin “counter-receipt”] Roman & civil law. A counterpart to a receipt (i.e., an apocha), signed by the debtor and delivered to the creditor as proof of payment. Cf. APOCHA.
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dividend reinvestment plan
dividend-reinvestment plan. A stock-purchase program that allows investors to reinvest their dividends, and perhaps convert additional voluntary payments, into shares of the entity’s common stock, usu. with no sales charge, and sometimes at a discount from the stock’s market price. • Although the investor never receives the cash, it is still treated as income to
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deed of covenant
A deed to do something, such as a document providing for periodic payments by one party to another (usu. a charity) for tax-saving purposes. • The transferor can deduct taxes from the payment and, in some cases, the recipient can reclaim the deducted tax.
secured creditor
A creditor who has the right, on the debtor’s default, to proceed against collateral and apply it to the payment of the debt. UCC § 9-102(a)(72). — Also termed secured party.
mortgage guarantee insurance
mortgage-guarantee insurance. Insurance provided by the Mortgage Guarantee Insurance Company to mortgage lenders that grant mortgages to parties having less than a 20% down payment. • The cost of the insurance is included in the closing costs. [Cases: Mortgages 201. C.J.S. Mortgages §§ 311–314.]
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consignation
consignation (kon-sig-nay-sh[schwa]n), n. 1. A debtor’s delivery of money to an authorized third party after the creditor refuses to accept the payment. • Unlike a tender, a valid consignation discharges the debtor. Cf. TENDER(1). 2. CONSIGNMENT(1).
carriage and insurance paid to
carriage and insurance paid to. A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) procure and pay for insurance against the buyer’s risk of damage while the goods
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child care fund
child-care fund. Family law. State-government funds set aside to reimburse counties for part of the payments for children’s foster care and expenses.
satisfaction of judgment
satisfaction of judgment. 1. The complete discharge of obligations under a judgment. [Cases: Federal Civil Procedure 2398; Judgment 874–899. C.J.S. Judgments §§ 656–676, 678–692.] 2. The document filed and entered on the record indicating that a judgment has been paid. [Cases: Federal Civil Procedure 2398; Judgment 897. C.J.S. Judgments § 686.] “Generally, a satisfaction of
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tax shelter
tax shelter, n. A financial operation or investment strategy (such as a partnership or real-estate investment trust) that is created primarily for the purpose of reducing or deferring income-tax payments. • The Tax Reform Act of 1986 — by restricting the deductibility of passive losses — sharply limited the effectiveness of tax shelters. — Often