winding up :: legal definition
Winding up - n. liquidating the assets of a corporation or partnership, settling accounts, paying bills, distributing remaining assets to shareholders or partners, and then dissolving the business. Winding up a non-profit corporation requires a plan for distribution of assets to some charitable or other non-profit entity under the cy pres doctrine.
See also: corporation cy pres doctrine partnership and Related Law Terms ↓
Related Law Terms
book value :: n. a determination of the value of a corporation's ... ssets may be under- or over-valued.corporation :: n. an organization formed with state governmental ... ation public corporation securities
distribute :: v. 1) the dividing up of those assets of an estate ... and distribution probate trust will
distribution :: n. the act of dividing up the assets of an estate ... p percentages. See also: distribute
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
issue :: 1) n. a person's children or other lineal descenda ... the body incorporation share stock
limited liability :: n. the maximum amount a person participating in a ... ted damages partnership shareholder
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
prospectus :: n. a detailed statement by a corporation required ... rporation limited partnership stock
trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor
Popular Law Searches
legal 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 - W
waive :: v. to voluntarily give up something, including not ... the other state). See also: waiverwaiver :: n. the intentional and voluntary giving up of some ... ssed on the record. See also: waive
wanton :: adj. 1) grossly negligent to the extent of being r ... sexually immoral and unrestrained.
ward :: n. 1) a person (usually a minor) who has a guardia ... ouncil district. See also: guardian
warrant :: 1) n. an order (writ) of a court which directs a l ... e search and seizure search warrant
warranty :: n. a written statement of good quality of merchand ... of the contract. See also: warrant
warranty deed :: n. a deed to real property which guarantees that t ... : grant deed quitclaim deed warrant
waste :: n. 1) any damage to real property by a tenant whic ... ch may include poisonous effluents.
watered stock :: n. shares of stock of a corporation which have bee ... . See also: corporation share stock
weight of evidence :: n. the strength, value and believability of eviden ... dence preponderance of the evidence
wet reckless :: n. a plea to a charge of reckless driving which wa ... conviction. See also: plea bargain
whiplash :: n. a common neck and/or back injury suffered in au ... r damages due to negligent driving.
white collar crime :: n. a generic term for crimes involving commercial ... committed by "blue collar" workers.
widow :: n. a woman whose husband died while she was marrie ... nefits traceable to the ex-husband.
widower :: n. a man whose wife died while he was married to h ... d to her and who has not remarried.
widow's election :: n. the choice a widow makes between accepting what ... nt and distribution succession will
will :: n. a written document which leaves the estate of t ... will and testament probate testator
will contest :: n. a lawsuit challenging the validity of a will an ... so: in terrorem clause probate will
willful :: adj. referring to acts which are intentional, cons ... r was willful." See also: willfully
willfully :: adv. referring to doing something intentionally, p ... on the property." See also: willful