period of prescription. The period fixed by local law as sufficient for obtaining or extinguishing a right through lapse of time. • In addition to a fixed number of years, the period includes whatever further time is allowed by local law because of infancy, insanity, coverture, and other like circumstances. See PRESCRIPTIVE RIGHT; PRESCRIPTION(3), (4), […]
period of prescription Read More »
proceeds (proh-seedz), n. 1. The value of land, goods, or investments when converted into money; the amount of money received from a sale (the proceeds are subject to attachment). 2. Something received upon selling, exchanging, collecting, or otherwise disposing of collateral. UCC § 9-102(a)(64). • Proceeds differ from other types of collateral because they constitute
poor man’s oath 贫困者的宣誓 指依照人身执行令被拘禁的人所作的声明自己没有能力履行判决的宣誓，或贫穷的原告所作的因其穷困而不能支付诉讼费用的宣誓。 (→poverty affidavit)
An unadvertised sale negotiated and concluded directly between the buyer and seller, not through an agent.
demutualization, n. The process of converting a mutual insurance company (which is owned by its policyholders) to a stock insurance company (which is owned by outside shareholders), usu. as a means of increasing the insurer’s capital by allowing the insurer to issue shares. • About half the states have demutualization statutes authorizing such a conversion.
separate-but-equal doctrine. The now-defunct doctrine that African-Americans could be segregated if they were provided with equal opportunities and facilities in education, public transportation, and jobs. • This rule was established in Plessy v. Ferguson, 163 U.S. 537, 16 S.Ct. 1138 (1896), and overturned in Brown v. Board of Education, 347 U.S. 483, 74 S.Ct. 686
separate but equal doctrine Read More »
vergens ad inopiam (v[schwa]r-jenz ad in-oh-pee-[schwa]m), adj. [Latin “verging on poverty”] Civil law. Tending to become insolvent. “When a debtor is clearly vergens ad inopiam, a creditor may legally resort to certain measures, for the purpose of protecting his interests, which would not otherwise be competent to him. Thus if the debtor be bound under
vergens ad inopiam Read More »
backwardation. Securities. A fee paid by the seller of securities so that the buyer will allow delivery after their original delivery date. — Also termed backadation; inverted market.
securitizable, adj. 1. Of, relating to, or constituting the class of obligations that a creditor (originator) may package and sell to others for corporate purposes. 2. (Of an asset) capable of being rapidly converted to cash, as with commercial-loan receivables and trade accounts receivable.