thereupon
thereupon, adv. 1. Immediately; without delay; promptly (the writ of execution issued from the court, and the sheriff thereupon sought to find the judgment debtor). 2. THEREON. 3. THEREFORE.
Search Results for: REO
failing company doctrine
failing-company doctrine. Antitrust. The rule that allows an otherwise proscribed merger or acquisition between competitors when one is bankrupt or near failure. 15 USCA §§ 12–27. — Also termed failing-firm defense. [Cases: Monopolies 20(1). C.J.S. Monopolies §§ 106–111, 115–116, 125.] “The 1992 guidelines provide a limited defense for failing firms and failing divisions of firms.
failing company doctrine Read More »
substantial performance doctrine
substantial-performance doctrine. The rule that if a good-faith attempt to perform does not precisely meet the terms of an agreement or statutory requirements, the performance will still be considered complete if the essential purpose is accomplished, subject to a claim for damages for the shortfall. • Under the Uniform Probate Code, a will that is
substantial performance doctrine Read More »
deforce
deforce, vb. 1. To keep (lands) from the true owner by means of force. 2. To oust another from possession by means of force. 3. To detain (a creditor’s money) unjustly and forcibly. — deforciant, n. “The character of the action of debt is well illustrated by the form of the writ as given by
in being
in being. Existing in life (life in being plus 21 years). • In property law, this term includes children conceived but not yet born. — Also termed in esse. See LIFE IN BEING. “The intentional killing of one not ‘in being,’ i.e. an unborn child, was until 1929 punishable neither as murder nor as infanticide.
department of the interior
Department of the Interior. The cabinet-level department of the federal government responsible for managing the nation’s public lands and minerals, national parks, national wildlife refuges, and western water resources, and for upholding federal trust responsibilities to Indian tribes. • The Department also has responsibility for migratory-wildlife conservation; historical preservation; endangered species; surface-mined-lands preservation and restoration;
department of the interior Read More »
sixty day notice
sixty-day notice. Labor law. Under the Taft–Hartley Act, the 60-day advance notice required for either party to a collective-bargaining agreement to reopen or terminate the contract. • During this period, strikes and lockouts are prohibited. 29 USCA § 158(d)(1).
reconstruction
reconstruction. 1. The act or process of rebuilding, re-creating, or reorganizing something (an expert in accident reconstruction). 2. Patents. A rebuilding of a broken, worn-out, or otherwise inoperative patented article in such a way that a new article is created, thus resulting in an infringement (the replacement of the machine’s essential parts was an infringing
creditors’ committee
creditors’ committee. Bankruptcy. A committee comprising representatives of the creditors in a Chapter 11 proceeding, formed to negotiate the debtor’s plan of reorganization. • Generally, a committee has no fewer than 3 and no more than 11 members and serves as an advisory body. 11 USCA § 1102. [Cases: Bankruptcy 3024. C.J.S. Bankruptcy §§ 193,
creditors’ committee Read More »
vulture fund
An investment company that purchases bankrupt or insolvent companies to reorganize them in hopes of reselling them at a profit.