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Most Popular Legal Definitions
viz
To wit, or namely
chancellor
From the Old English legal system, a chancellor is a judge who sits in what is
called a chancery (equity) court with the power to order something be done (as
distinguished from just paying damages).
lien
A property right which remains attached to an object that has been sold, but not
totally paid for, until complete payment has been made.
immunity
An exemption that a person enjoys from the
normal operation of the law.
adjuster
employee of an insurance company or an adjustment firm employed by an insurance
company to negotiate an early settlement of a claim for damages against a
person, a business or public body. While a fair and responsible adjuster can
serve a real purpose in getting information and evaluating the case for the
insurance company, some adjusters try to make a settlement before the injured
person has retained an attorney, or get a statement from the injured without
counsel. Adjusters also represent the company in approving settlements.
hereditament
Some thing that can be inherited.
book value
A determination of the value of a corporation's stock by adding up the stated
value of corporate assets as shown on the books (records) of a corporation and
deducting all the liabilities (debts) of the corporation. This may not be the
true value of the corporation or its shares since the assets may be under- or
over-valued.
law of nature
The uncertain and elastic concept of regulation
of conduct based on morality, conscience or God.
holograph will
A will that is not witnessed and is written in the handwriting of the testator.
heir
A beneficiary of a will or an intestacy.