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Most Popular Legal Definitions
riot
Three or more persons who assemble and advance a purpose together, using force
if necessary, and raising alarm of a reasonable person.
indemnity
Contract with a third-party to perform another's obligations if called upon to
do so by the third-party, whether the other has defaulted or not.
separation agreement
A private contract between separating spouses
resolving issues of joint, family, or marital property or assets, support and
child responsibilities.
capital
1) From Latin for caput, meaning 'head', the basic assets of a business or of
an individual, including actual funds, equipment and property as distinguished
from stock in trade, inventory, payroll, maintenance and services. 2) related to
the basic assets or activities of a business or individual, such as capital
account, capital assets, capital expenditure, and capital gain or loss 3) an
amount of money a person owns
maturity
The date when the payment of the principal amount owed becomes due.
absolute
Complete, and without condition.
supreme court
The highest court in the United States which has the ultimate power to decide
constitutional questions and other appeals.
vigilante
Someone who takes the law into his/her own hands by trying or punishing another
person without any legal authority.
common law relationship
two unmarried persons living together as though married
beach bum trust provision
requirement in a trust that a beneficiary can only receive profit from the trust
equal to the amount they earn; this provision is intended to encourage the
beneficiary to work, and not just lie around the beach and live off the trust