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Most Popular Legal Definitions
spousal support
Payments to an ex-spouse which are temporary or indefinite, designed to pool and
share the income of both spouses for that period of time necessary for the
lower-income spouse to become economically self-sufficient.
scienter
Latin for "having knowledge."
booby trap
A device set up to be triggered to harm or kill anyone entering the trap, such
as a shotgun which will go off if a room is entered, or dynamite which will
explode if the ignition key on an auto is turned. If a person sets up such a
trap to protect his/her property, he/she will be liable for any injury or death
even to an unwanted intruder such as a burglar. Setting a booby trap to even
protect one's property is a crime.
dividend
A proportionate distribution of profits made in the form of a money payment to
shareholders, by a for-profit corporation. Dividends are declared by a company's
board of directors.
adultery
consensual sexual relations when one of the participants is legally married to
another; still a crime in some states and in many states it is grounds for
divorce for the spouse of the adulterer
positive law
Law proper, as opposed to moral laws, or to natural or "God-made" law.
acknowledge
1) to admit or concede 2) a notary public or other officer (such as a county
clerk) verifying an individual's completion of a document, such as for the power
of attorney, to make it certified as legal and suitable for recording
shareholder agreement
A contract between the shareholders of a company
and the company itself, in which certain thing which would otherwise be the
purview of the board of directors, are predetermined.
force majuere
French for an act of God; an inevitable,
unpredictable act of nature.
liquidity
the ability and ease for assets to be turned in to cash