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Dictionary of Law |
partner :: legal definitionPartner - n. 1) one of the co-owners and investors in a "partnership" which is an on-going business enterprise entered into for profit. A "general partner" is responsible for the debts, contracts and actions of all the partners in the business, is an equal in management decisions unless there is an agreement establishing management duties and rights, and shares in the profits and losses based on the percentage of the investment (either in money or effort) in the partnership. A "limited partner" does not share responsibility for debts beyond his/her investment, cannot share in management, and shares in profits based on a written agreement. A "silent partner" is no different from any partner except he/she is not visible to the public and has no part in day-to-day management. 2) slang for "domestic partner," usually two people living together, either homosexual or heterosexual, sharing lives and possessions, and not married. See also: domestic partners general partner limited partnership partnership and Related Law Terms ↓ Related Law Termsbankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcycapital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange clean hands doctrine :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another. common area :: n. in condominium and some cooperative housing pro ... tage of total store space occupied. contractor :: n. 1) a person or entity that enters into a contra ... actor mechanic's lien subcontractor contribution :: n. 1) donation to a charity or political campaign. ... f $3,000 from each of his partners. cooperative :: n. an association of individual businesses, farmer ... exes. See also: cooperative housing corporation :: n. an organization formed with state governmental ... ation public corporation securities declaration of trust :: n. the document signed by a trustor (settlor) crea ... also: settlor trust trustee trustor franchise :: 1) n. a right granted by the government to a perso ... on property, income or profits tax. general appearance :: n. an attorney's representation of a client in cou ... case. See also: special appearance general partner :: n. 1) usually one of the owners and operators of a ... ted partnership partner partnership head of household :: n. 1) in federal income tax law, the person filing ... n or daughter. 3) "head of family." impute :: v. 1) to attach to a person responsibility (and th ... also. See also: vicarious liability insolvency :: n. 1) the condition of having more debts (liabilit ... the property. See also: bankruptcy joint and several :: adj. referring to a debt or a judgment for neglige ... ution contributory negligence joint joint custody :: n. in divorce actions, a decision by the court (of ... em. See also: child custody divorce joint venture :: n. an enterprise entered into by two or more peopl ... s terminated. See also: partnership law :: n. 1) any system of regulations to govern the cond ... um maritime law natural law statute liability :: n. one of the most significant words in the field ... bility joint tortfeasors negligence 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 living trust :: n. sometimes called an inter vivos (Latin for "wit ... thrift clause trust trustee trustor Massachusetts Trust :: n. a business in which the investors give manageme ... provide for eventual distribution. mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort officer :: n. 1) a high-level management official of a corpor ... deputy sheriff or federal marshal. partnership :: n. a business enterprise entered into for profit w ... partnership partner silent partner pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title. prospectus :: n. a detailed statement by a corporation required ... rporation limited partnership stock prudent man rule :: n. the requirement that a trustee, investment mana ... (1994). See also: fiduciary trustee reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation. securities :: n. generic term for shares of stock, bonds and deb ... ee also: bond debenture share stock self-dealing :: n. in the stock market, using secret "inside" info ... ederal Securities and Exchange Act. silent partner :: n. a non-legal term for an investor who puts money ... partner limited partnership partner statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll suffering :: n. the pain, hurt, inconvenience, embarrassment an ... njury negligence pain and suffering trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee 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 - Ppaid into court :: adj. referring to money deposited with the clerk o ... differences. See also: interpleaderpain and suffering :: n. the physical and mental distress suffered from ... l damages special damages suffering palimony :: n. a substitute for alimony in cases in which the ... the relationship. See also: alimony pander :: 1) v. to solicit customers for a prostitute. 2) n. ... ons or favors. See also: prostitute panderer :: n. 1) a person who panders or solicits for a prost ... special interests. See also: pander panel :: n. the list of people selected to appear for jury ... or jury duty. See also: jury venire paper hanger :: n. slang for a person who criminally writes and ca ... ey in them. See also: forgery fraud par :: n. 1) an equal level. 2) the face value of a stock ... common stock preferred stock stock paralegal :: n. a non-lawyer who performs routine tasks requiri ... h less than that for the attorneys. paramount title :: n. a right to real property which prevails over an ... n's claim of title. See also: title parcel :: n. a defined piece of real estate, usually resulti ... See also: real estate real property pardon :: 1) v. to use the executive power of a Governor or ... also: amnesty commutation reprieve parens patriae :: (paa-rens pat-tree-eye) n. Latin for "father of hi ... pport custody divorce guardian ward parent :: n. the lawful and natural father or mother of a pe ... natural parent. See also: adoption parental neglect :: n. a crime consisting of acts or omissions of a pa ... usive or sexually predatory person. pari delicto :: adj. equal fault. See also: in pari delicto ... al fault. See also: in pari delicto parish :: n. 1) a geographic area served by a church (partic ... overnmental equivalent of a county. parody :: n. the humorous use of an existing song, play, or ... l significance. See also: copyright parol :: adj. oral. See also: parol evidence rule ... oral. See also: parol evidence rule parol evidence rule :: n. if there is evidence in writing (such as a sign ... or contradict the written document. |