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Dictionary of Law |
non-discretionary trust :: legal definitionNon-discretionary trust - n. a trust in which the trustee is directed to invest only in specifically named securities and to diversify the investments among certain types of securities. The trustee has no discretion or personal decision-making power in the matter. See also: trust and Related Law Terms ↓ Related Law Termscommingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.co-trustee :: n. a trustee of a trust when there is more than on ... act alone. See also: trust trustee declaration of trust :: n. the document signed by a trustor (settlor) crea ... also: settlor trust trustee trustor deed of trust :: n. a document which pledges real property to secur ... : foreclosure mortgage reconveyance prudent man rule :: n. the requirement that a trustee, investment mana ... (1994). See also: fiduciary trustee real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust spendthrift clause :: n. a provision in a trust or will that states that ... tly to Junior. See also: trust will trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor trustee :: n. a person or entity who holds the assets (corpus ... es. See also: settlor trust trustor Popular Law Searcheslegal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger." mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor. clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate. Other Law Terms - NN.O.V. :: adj. shorthand acronym of Latin for non obstante v ... notwithstanding the verdict verdicNational Labor Relations Board :: n. an independent regulatory commission created in ... see union and organizing elections. natural law :: n. 1) standards of conduct derived from traditiona ... eated by mankind through the state. natural person :: n. a real human being, as distinguished from a cor ... ated at law as a fictitious person. necessary :: adj., adv. 1) essen- tial. 2) less forcefully, it ... nient, useful or making good sense. necessary inference :: n. 1) a conclusion militated by reason and logic a ... nown facts. 2) unavoidable meaning. necessary party :: n. a person or entity whose interests will be affe ... o: indispensable party proper party negative declaration :: n. a finding by a city council or other local gove ... so: EIR environmental impact report negative pregnant :: n. a denial of an allegation in which a person act ... suse, just the amount and the date. negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort negligence per se :: (purr say) n. negligence due to the violation of a ... riving. See also: negligence per se negligent :: adj., adv. careless in not fulfilling responsibili ... esponsibility. See also: negligence negotiable instrument :: n. check, promissory note, bill of exchange, secur ... bearer paper bill of exchange check negotiation :: n. 1) the transfer of a check, promissory note, bi ... te. See also: negotiable instrument net :: : n., adj. the amount of money or value remaining ... or net estate. See also: net estate net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax new matter :: n. newly claimed facts or legal issues raised (bro ... ee also: affirmative defense answer next friend :: n. a person (often a relative) who voluntarily hel ... filed. See also: guardian ad litem next of kin :: n. 1) the nearest blood relatives of a person who ... See also: descent and distribution nihil :: (ni [as in it]-hill) n. from Latin for nothing. ... t]-hill) n. from Latin for nothing. |