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three judge court

A court made up of three judges; esp., a panel of three federal judges convened to hear a trial in which a statute is challenged on constitutional grounds. • Three-judge courts were virtually abolished in 1976 when Congress restricted their jurisdiction to constitutional challenges to congressional reapportionments. Occasionally, Congress creates three-judge courts in special legislation, […]

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quasi autonomous nongovernmental organization

quasi-autonomous nongovernmental organization. A semipublic administrative body (esp. in the United Kingdom) having some members appointed and financed by, but not answerable to, the government, such as a tourist authority, a university-grants commission, a price-and-wage commission, a prison or parole board, or a medical-health advisory panel. • This term is more commonly written as an

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improvement

improvement. An addition to real property, whether permanent or not; esp., one that increases its value or utility or that enhances its appearance. — Also termed land improvement. Cf. FIXTURE. [Cases: Improvements 1. C.J.S. Improvements §§ 2, 4.] beneficial improvement. See valuable improvement. general improvement. An improvement whose primary purpose or effect is to benefit

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employee retirement income security act

Employee Retirement Income Security Act. A federal statute that regulates private pension plans and employee benefit plans and that established the Pension Benefit Guaranty Corporation.29 USCA §§ 1001 et seq. — Abbr. ERISA. [Cases: Pensions 21–23. C.J.S. Insurance § 34; Pensions and Retirement Plans and Benefits §§ 7–10.] “ERISA was adopted in 1974 in response

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flip

flip, vb. Slang. 1. To buy and then immediately resell securities or real estate in an attempt to turn a profit. 2. To refinance consumer loans. 3. Slang. To turn state’s evidence. See TURN STATE’S EVIDENCE.

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buyout

buyout, n. The purchase of all or a controlling percentage of the assets or shares of a business. Cf. MERGER(8). — buy out, vb. leveraged buyout. The purchase of a publicly held corporation’s outstanding stock by its management or outside investors, financed mainly with funds borrowed from investment bankers or brokers and usu. secured by

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