risk factor. Insurance. In life-insurance ratemaking, the estimated cost of present and future claims, based on a mortality table. • The risk factor is one element that a life insurer uses to calculate premium rates. See PREMIUM RATE . Cf. INTEREST FACTOR; MORTALITY FACTOR. [Cases: Insurance 1542. C.J.S. Insurance § 67.]
A defamatory statement made in good faith by a person with an interest in a subject to someone who also has an interest in the subject, as an employer giving a negative but accurate job review of a former employee to a potential future employer. • The privilege may be lost upon a showing of
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total-offset rule. Torts. A theory of damages holding that the eroding effect of inflation offsets the accrual of interest on an award and makes it unnecessary to discount future damages to their present value.
communication. 1. The expression or exchange of information by speech, writing, gestures, or conduct; the process of bringing an idea to another’s perception. 2. The information so expressed or exchanged. conditionally privileged communication. A defamatory statement made in good faith by a person with an interest in a subject to someone who also has an
spread, n. 1. Banking. The difference between the interest rate that a financial institution must pay to attract deposits and the rate at which money can be loaned. 2. Securities. The difference between the highest price a buyer will pay for a security (the bid price) and the lowest price at which a seller will
Family law. In a child-custody matter, jurisdiction based on (1) the best interests of the child, (2) at least one parent’s (or litigant’s) significant connection to the state, and (3) the presence in the state of substantial evidence about the child’s present or future care, protection, training, and personal relationships. • This type of jurisdiction
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An estate in immediate possession; one vested at the present time, as distinguished from a future estate. See present interest under INTEREST(2).
A legacy given in such a way that the legatee has a fixed, indefeasible right to its payment. • A legacy is said to be vested when the testator’s words making the bequest convey a transmissible interest, whether present or future, to the legatee. Thus, a legacy to be paid when the legatee reaches the
A bequest of a future, deferred, or contingent interest in personal property. [Cases: Wills 625. C.J.S. Wills §§ 1314–1317, 1319.]
A vested remainder that is not subject to a condition subsequent; specif., a remainder in which the remainderman is certain to acquire a present interest sometime in the future and will be entitled to retain the interest permanently. — Also termed indefeasibly vested remainder; remainder indefeasibly vested.
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