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Dictionary of Law |
usury :: legal definitionUsury - n. a rate of interest on a debt which is exorbitant and in excess of the percentage allowed by law. Each state sets its own maximum interest rate. Courts will not enforce payment of interest on a loan if the rate is usurious, so a loan may result in being interest free. Charging usury as a practice is a crime, usually only charged if a person makes a business of usury, sometimes called "loan-sharking." Banks and other commercial lenders generally are not subject to anti-usury laws, but are governed by the marketplace and the competitive rates triggered by loan rates to institutions set by the Federal Reserve Bank. See also: usurious and Related Law Terms ↓ Related Law Termsbail :: 1) n. the money or bond put up to secure the relea ... bond bail bondsman own recognizanceinterest :: n. 1) any and all, partial or total right to prope ... nal property real property standing 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 - UUCC-1 :: n. a financing agreement form for using personal p ... (UCC) adopted in almost all states.ultimate fact :: n. in a trial, a conclusion of fact which is logic ... is not evidence. See also: evidence ultra vires :: (uhl-trah veye-rehz) adj. Latin for "beyond powers ... it is issued. See also: corporation ultrahazardous activity :: n. an action or process which is so inherently dan ... sional auto race on public streets. unclean hands :: n. a legal doctrine which is a defense to a compla ... ough. See also: affirmative defense unconscionable :: adj. referring to a contract or bargain which is s ... ee also: adhesion contract contract unconstitutional :: adj. referring to a statute, governmental conduct, ... ee also: constitution Supreme Court under the influence :: n. one of many phrases for being drunk on alcoholi ... See also: driving while intoxicated underwrite :: v. 1) to agree to pay an obligation which may aris ... antee guarantor insurer underwriter underwriter :: n. a company or person which/who underwrites an in ... ss or project. See also: underwrite undisclosed principal :: n. a person who uses an agent for his/her negotiat ... dispute. See also: agent principal undivided interest :: n. title to real property held by two or more pers ... y by the entirety tenancy in common undue influence :: n. the amount of pressure which one uses to force ... ounder. See also: will will contest unfair competition :: n. wrongful and/or fraudulent business methods to ... ctices tend to harm one's business. unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax Uniform Commercial Code :: n. a set of statutes governing the conduct of busi ... s except Louisiana. See also: UCC-1 unilateral contract :: n. an agreement to pay in exchange for performance ... consideration contract performance uninsured motorist clause :: n. the clause in a policy of insurance on an autom ... l pay its insured's actual damages. unissued stock :: n. a corporation's shares of stock which are autho ... poration share stock treasury stock unjust enrichment :: n. a benefit by chance, mistake or another's misfo ... perty. See also: constructive trust |