The issuance of two or more new shares in exchange for each old share without changing the proportional ownership interests of each shareholder. • For example, a 3-for-1 split would give an owner of 100 shares a total of 300 shares, or 3 shares for each share previously owned. A stock split lowers the price […]
An annuity that, upon the annuitant’s death, pays to the annuitant’s estate the difference between the purchase price and the total payments received during the annuitant’s lifetime.
market power. The ability to reduce output and raise prices above the competitive level — specifically, above marginal cost — for a sustained period, and to make a profit by doing so. • In antitrust law, a large amount of market power may constitute monopoly power. See MONOPOLIZATION. Cf. MARKET SHARE . “In economic terms,
Two or more sentences of jail time to be served simultaneously. • For example, if a defendant receives concurrent sentences of 5 years and 15 years, the total amount of jail time is 15 years. [Cases: Sentencing and Punishment 547. C.J.S. Criminal Law §§ 1582–1586.]
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Stock originally issued for a fixed value derived by dividing the total value of capital stock by the number of shares to be issued. • The par value does not bear a necessary relation to the actual stock value because surplus plays a role in the valuation. [Cases: Corporations 62. C.J.S. Corporations §§ 126, 128,
A depreciation method — directly related to the productivity of the asset — that divides the asset’s value by the estimated total number of units to be produced, and then multiplies the unit cost by the number of units sold during the year, representing the depreciation expense for the year.
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The intent relating to a wrongful act; the part of the total intent coincident with the wrongful act itself.
utter, adj. Complete; absolute; total (an utter denial). utter, vb. 1. To say, express, or publish (don’t utter another word until your attorney is present). 2. To put or send (a document) into circulation; esp., to circulate (a forged note) as if genuine (she uttered a counterfeit $50 bill at the grocery store). [Cases: Counterfeiting
A temporary or special interest in a thing (such as a right to possess it), subject to being totally extinguished by the occurrence of a specified contingency over which the qualified owner has no control.
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Total sales revenue less the cost of the goods sold and all additional expenses. — Also termed net revenue. Cf. gross profit. [Cases: Internal Revenue 3175; Taxation 980, 996. C.J.S. Internal Revenue §§ 107–108, 110, 112; Taxation §§ 1715–1716, 1732–1733.]