Stock owned by a holder whose potential liability is limited to the amount paid for the stock and who cannot be charged additional funds to pay the issuer’s debts. • Stock issued in the United States is usu. nonassessable. [Cases: Corporations 78, 175. C.J.S. Corporations §§ 188, 192, 316.]
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An error that does not affect a party’s substantive rights or the case’s outcome. • A harmless error is not grounds for reversal. See Fed. R. Civ. P. 61; Fed. R. Crim. P. 52. — Also termed technical error; error in vacuo. Cf. substantial error. [Cases: Administrative Law and Procedure 764; Appeal and Error 1025–1074.
A real-property interest that is less than a freehold or fee, such as a leasehold estate. • The most important chattel real is an estate for years in land, which is considered a chattel because it lacks the indefiniteness of time essential to real property. — Also termed real chattel. [Cases: Property 4. C.J.S. Property
The principle that a severance must be granted only when a defendant can show that trial with a codefendant would substantially prejudice the defendant’s case, as when the jury might wrongly use evidence against the defendant. See BRUTON ERROR. [Cases: Criminal Law 622.2(8). C.J.S. Criminal Law §§ 570–571.]
Oil & gas. The collection of producing wells over a reservoir for joint operations such as enhanced-recovery techniques. • Unitization is usu. carried out after primary production has begun to fall off substantially, in order to permit efficient secondary-recovery operations. It is also done to comply with well-spacing requirements established by state law or regulation.
motion in arrest of judgment. 1. A defendant’s motion claiming that a substantial error appearing on the face of the record vitiates the whole proceeding and the judgment. 2. A postjudgment motion in a criminal case claiming that the indictment is insufficient to sustain a judgment or that the verdict is somehow insufficient. [Cases: Criminal
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elector n. (1)选民；有选举权者；合格选举人 (2)〈美〉选举团〔electoral college〕成员 指为选举总统和副总统而组成的选举团的成员。亦称presidential elector。
In the child-custody laws of some states, a parent without the primary custody rights of a child; esp., the parent not awarded physical custody of a child in a divorce. • The noncustodial parent is typically awarded visitation with the child. — Also termed nonresidential parent; possessory conservator; absent parent. See PHYSICAL CUSTODY(2). Cf. custodial
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motion for judgment of acquittal. A criminal defendant’s request, at the close of the government’s case or the close of all evidence, to be acquitted because there is no legally sufficient evidentiary basis on which a reasonable jury could return a guilty verdict. • If the motion is granted, the government has no right of
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capital-risk test. Securities. A method of determining whether a transaction constitutes an investment contract (subject to securities laws), whereby if a substantial portion of the capital used by a franchiser to start its operations is provided by a franchisee, then the transaction is treated as an investment contract. [Cases: Securities Regulation 5.10. C.J.S. Securities Regulation