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Most Popular Legal Definitions

promissory note

An unconditional, written and signed promise to pay a certain amount of money, on demand or at a defined date.

bailor

person who leaves goods in the custody of another, usually under a "contract of bailment," in which the custodian ("bailee") is responsible for the safekeeping and return of the property

arraignment

the hearing in which a person is presented with the charges against them, given an opportunity to enter a plea, determined whether they have a lawyer, and if necessary set the bail amount and future appearances

admission of guilt

statement by someone accused of a crime that he/she committed the offense

pro socio

Latin, on behalf of a partnership.

nugatory

Of no force or effect; invalid.

syndicate

A joint venture among individuals and/or corporations to accomplish a particular business objective.

charter

1) the act of an established body giving sanction or bestowing rights on an individual or party, usually in writing 2) an enumerated privilege

agent for acceptance of service

states require that a corporation name an actual person who is authorized to accept service of any lawsuit or claim against the corporation

ad valorem

Latin for "based on value," which generally applies to property taxes based on a percentage of the county's assessment of the property's value.