enrolled agent. One who, though neither a certified public accountant nor an attorney, has been admitted to practice before the IRS, either by passing an examination or by working for the IRS in a technical area for at least five years. • The enrolled agent is one of four types of persons who are allowed […]
Cinque Ports (singk ports). [Fr. “five ports”] The five English ports — Hastings, Romney, Hythe, Dover, and Sandwich — that were important defenses against French invasion. • They received special privileges and were obliged to furnish a certain number of ships for use in war. See COURT OF SHEPWAY. “Cinque ports … are those special
earnout agreement. An agreement for the sale of a business whereby the buyer first pays an agreed amount up front, leaving the final purchase price to be determined by the business’s future profits. • The seller usu. helps manage the business for a period after the sale. — Sometimes shortened to earnout.
An adoption in which parents domiciled in one nation travel to a foreign country to adopt a child there, usu. in accordance with the laws of the child’s nation. • International adoptions first became popular after World War II and escalated after the Korean Conflict because of the efforts of humanitarian programs working to find
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thirty-day letter. A letter that accompanies a revenue agent’s report issued as a result of an Internal Revenue Service audit or the rejection of a taxpayer’s claim for refund and that outlines the taxpayer’s appeal procedure before the Internal Revenue Service. • If the taxpayer does not request any such procedure within the 30-day period,
maiden. 1. A young unmarried woman. 2. Scots law. An instrument used to behead criminals. • The Earl of Morton, who had introduced the instrument to Scotland, was the first to be executed by it, in 1581. It was the prototype of the guillotine. Hence, “to kiss the maiden was to be put to death.”
incorporation, n. 1. The formation of a legal corporation. See ARTICLES OF INCORPORATION . [Cases: Corporations 1. C.J.S. Corporations §§ 2, 4.] 2. Constitutional law. The process of applying the provisions of the Bill of Rights to the states by interpreting the 14th Amendment’s Due Process Clause as encompassing those provisions. • In a variety
antihazing statute. A (usu. criminal) law that prohibits an organization or members of an organization from requiring a prospective member, as a condition of membership, to do or submit to any act that presents a sub-stantial risk of physical or mental harm. • In 1874 Congress passed the first antihazing statute, directed at stopping hazing
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Master in Lunacy. Hist. A judicial officer appointed by the Lord Chancellor to conduct inquiries into the state of mind of people alleged to be lunatics incapable of handling their own affairs and to ensure in each case that the lunatic’s property is properly managed for his or her benefit.
A fee simple defeasible that is subject to divestment in favor of someone other than the grantor if a specified event happens (e.g., “to Albert and his heirs, but if the property is ever used as a parking lot, then to Bob”). — Also termed fee simple subject to an executory interest. [Cases: Estates in
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