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Dictionary of Law |
subchapter S corporation :: legal definitionSubchapter S corporation - n. the choice by a small corporation to be treated under "subchapter S" by the Internal Revenue Service, which allows the corporation to be treated like a partnership for taxation purposes. This may provide the benefit of passing losses (particularly in the early development of the business) to the stockholders. Technically the term "subchapter S corporation" is a misnomer since it is a normal corporation except for the election (choice) which is filed on a form provided by the IRS normally immediately after incorporation, which election can be withdrawn before the beginning of a future taxable year. This election is usually prepared and filed with the IRS by the company's accountant and not the incorporating attorney. See also: corporation and Related Law Terms ↓ Related Law Termsarticles of incorporation :: n. the basic charter of a corporation which spells ... year's taxes. See also: corporationcompany :: n. any formal business entity for profit, which ma ... s a corporation. See also: business corporation :: n. an organization formed with state governmental ... ation public corporation securities foreign corporation :: n. a corporation which is incorporated under the l ... tate or Whoopee's designated agent. incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine offshore corporation :: n. a corporation chartered under the laws of a cou ... nds in accounts out of the country. person :: n. 1) a human being. 2) a corporation treated as h ... amages. See also: corporation party professional corporation :: n. a corporation formed for the purpose of conduct ... rofessionals. See also: corporation stock certificate :: n. printed document which states the name, incorpo ... . See also: corporation share stock 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 - Ssaid :: adj. a reference back to a thing that was previous ... automobile in a negligent manner."sale :: n. transfer of something (and title to it) in retu ... contract forced sale sheriff's sale salvage :: 1) v. to save goods. 2) n. payment to a person or ... which saves cargo from a shipwreck. sanction :: n. 1) a financial penalty imposed by a judge on a ... ction." See also: contempt of court satisfaction :: n. receiving payment or performance of what is due ... n contract satisfaction of judgment satisfaction of judgment :: n. a document signed by a judgment creditor (the p ... ord. See also: abstract of judgment satisfaction of mortgage :: n. a document signed by a lender acknowledging tha ... id off the debt. See also: mortgage save harmless :: v. 1) also called hold harmless, to indemnify (pro ... . See also: hold harmless indemnify savings and loan :: n. a banking and lending institution, chartered ei ... vings into the home finance market. scienter :: n. Latin for "having knowledge." In criminal law, ... ents were lies and thus fraudulent. scintilla :: n. Latin for "spark." Scintilla is commonly used i ... ark) upon which to base a judgment. scope of employment :: n. actions of an employee which further the busine ... ter and servant respondeat superior scrivener :: n. a person who writes a document for another, usu ... r practicing law without a license. seal :: n. a device which creates an impression upon paper ... e "sealed," but that is rare today. sealed verdict :: n. the decision of a jury when there is a delay in ... reconvenes. See also: jury verdict sealing of records :: n. trial records and decisions which a judge order ... eep the terms from public scrutiny. search :: v. 1) to examine another's premises (including a v ... e search and seizure search warrant search and seizure :: n. examination of a person's premises (residence, ... robable cause search search warrant search warrant :: n. a written order by a judge which permits a law ... ble cause search search and seizure second degree murder :: n. a non-premeditated killing, resulting from an a ... t degree murder manslaughter murder |