protector. 1. An unrelated, disinterested overseer of a trust who possesses broader authority than a trustee. • Protectors are usu. appointed to manage offshore trusts, but the concept is slowly being applied to domestic trusts. Protectors often possess broad powers to act for the benefit of the trust, as by removing trustees and clarifying or […]
A loan that a financial institution gives to a business, generally for 30 to 90 days.
Generally, a permanent form of debt commonly evidenced by a bond or debenture; long-term debt. — Also termed fixed liability.
seller. 1. A person who sells or contracts to sell goods; a vendor. UCC § 2-103(1)(d). [Cases: Sales 15. C.J.S. Sales § 10.] 2. Generally, a person who sells anything; the transferor of property in a contract of sale.
in forma pauperis (in for-m[schwa] paw-p[schwa]-ris), adv. [Latin “in the manner of a pauper”] In the manner of an indigent who is permitted to disregard filing fees and court costs (when suing, a poor person is generally entitled to proceed in forma pauperis). See 28 USCA § 1915; Fed. R. App. P. 24. • For
A bond that literally or substantially meets the requirements of a statute. [Cases: Bonds 31, 50. C.J.S. Bonds §§ 21–23, 28, 32, 34, 39.]
self-defense, n. 1. The use of force to protect oneself, one’s family, or one’s property from a real or threatened attack. • Generally, a person is justified in using a reasonable amount of force in self-defense if he or she believes that the danger of bodily harm is imminent and that force is necessary to
statement of work. A contractual provision or exhibit that defines what one party (e.g., the seller) is going to do for the other (e.g., the buyer). • The statement of work often covers such terms as (1) inspection and acceptance, (2) quality-assurance requirements, (3) packing and marking, (4) data requirements, and (5) training. There are
cosinage (k[schwa]z-[schwa]n-ij). Hist. A writ used by an heir to secure the right to land held by a great-great-grandfather or certain collateral relatives. — Also spelled cosenage; cousinage. — Also termed consanguineo; de consanguineo; de consanguinitate. Cf. AIEL; BESAYEL. “[T]here is the closest possible affinity between the Mort d’Ancestor and the action of Cosinage. If
communis opinio (k[schwa]-myoo-nis [schwa]-pin-ee-oh). [Latin “common opinion”] Hist. A generally accepted belief about a point of law. • If held unanimously by those learned in the law, this common belief had the force of law in classical Rome. “Communis opinio is evidence of what the law is, — not where it is an opinion merely