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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