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equitable recoupment

equitable recoupment. 1. Tax. A doctrine allowing a taxpayer to offset previously overpaid taxes against current taxes due, even though the taxpayer is time-barred from claiming a refund on the previous taxes. [Cases: Internal Revenue 4829.10. C.J.S. Internal Revenue §§ 728, 738.] 2. Tax. A doctrine allowing the government to offset taxes previously uncollected from

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aggravated

aggravated, adj. 1. (Of a crime) made worse or more serious by circumstances such as violence, the presence of a deadly weapon, or the intent to commit another crime (aggravated robbery). Cf. SIMPLE(1). 2. (Of a tort) made worse or more serious by circumstances such as intention to cause harm or reckless disregard for another’s

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lost profits

lost profits. 1. Contracts. A measure of damages that allows a seller to collect the profits that would have been made on the sale if the buyer had not breached. UCC § 2-708(2). [Cases: Damages 40; Sales 384(1). C.J.S. Damages §§ 58–61; Sales§§ 363, 365–366.] 2. Patents. A measure of damages set by estimating the

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warfare

warfare. 1. The act of engaging in war or military conflict. See WAR. [Cases: War and National Emergency 9. C.J.S. War and National Defense § 4.] 2. Loosely, the act of engaging in any type of conflict. biological warfare. The use of biological or infectious agents in war, usu. by delivering them via airplanes or

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indemnity

indemnity (in-dem-n[schwa]-tee), n. 1. A duty to make good any loss, damage, or liability incurred by another. [Cases: Indemnity 20, 25, 50–61.] 2. The right of an injured party to claim reimbursement for its loss, damage, or liability from a person who has such a duty. 3. Reimbursement or compensation for loss, damage, or liability

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causation

causation (kaw-zay-sh[schwa]n). 1. The causing or producing of an effect (the plaintiff must prove causa-tion). 2. CAUSALITY. “Here is the key to the juridical treatment of the problems of causation. We pick out the cause which in our judgment ought to be treated as the dominant one with reference, not merely to the event itself,

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maritime loan

A loan providing that a lender will not be repaid if the cargo is damaged or lost because of a navigational peril, but that the lender will be repaid plus interest if the cargo arrives safely or is damaged because of the carrier’s negligence. — Also termed marine loan.

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