delivered duty unpaid. A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) bear the costs of carriage (apart from unloading charges and import duties), and (3) make the […]
delivered duty unpaid Read More »
structure. 1. Any construction, production, or piece of work artificially built up or composed of parts purposefully joined together (a building is a structure). 2. The organization of elements or parts (the corporate structure). 3. A method of constructing parts (the loan’s payment structure was a financial burden).
liquidation, n. 1. The act of determining by agreement or by litigation the exact amount of something (as a debt or damages) that before was uncertain. 2. The act of settling a debt by payment or other satisfaction. 3. The act or process of converting assets into cash, esp. to settle debts. one-month liquidation. A
composition, n. 1. An agreement between a debtor and two or more creditors for the adjustment or discharge of an obligation for some lesser amount; an agreement among the debtor and two or more creditors that the debtor will pay the creditors less than their full claims in full satisfaction of their claims. • The
earnest, n. 1. A nominal payment or token act that serves as a pledge or a sign of good faith, esp. as the partial purchase price of property. • Though not legally necessary, an earnest may help the parties come to an agreement. 2. EARNEST MONEY.
A trust that is deemed to have been created in an effort to reduce someone’s assets so that the person may qualify for Medicaid, and that will be included as an asset for purposes of determining the person’s eligibility. • Someone who wants to apply and qualify for Medicaid, but who has too many assets
Medicaid qualifying trust Read More »
copyhold. Hist. A base tenure requiring the tenant to provide the customary services of the manor, as reflected in the manor’s court rolls. • Copyhold tenure descended from pure villeinage; over time, the customs of the manor, as reflected on the manor’s rolls, dictated what services a lord could demand from a copyholder. This type
money. 1. The medium of exchange authorized or adopted by a government as part of its currency; esp. domestic currency (coins and currency are money). UCC § 1-201(b)(24). 2. Assets that can be easily converted to cash (demand deposits are money). 3. Capital that is invested or traded as a commodity ( the money market).
actuarial present value. The amount of money necessary to purchase an annuity that would generate a particular monthly payment, or whatever periodic payment the plan provides, for the expected remaining life span of the recipient.
actuarial present value Read More »
merces (m[schwa]r-seez), n. [Latin] Roman law. 1. An agreed payment for a thing or services specifically contracted for; rent, hire. “There must be consent, a thing let, and an agreed payment (merces) …. The merces must be certain and Justinian’s texts say that, as in sale, it must be money. But there is not the