Glossary

Legal glossary

763 definitions · page 11 of 13.

Legal Terms - Tax Evasion: Tax Evasion information: The intentional attempt to not pay a tax otherwise due by using tax planning devices and schemes to circumvent the tax code. Tax evasion is a crime and has both civil and criminal penalties.
Legal Terms - Tax Exempt: Tax Exempt information: Something that is not subject to a tax, such as churches and interest on municipal bonds.
Legal Terms - Tax Haven: Tax Haven Information: A Tax Haven is really a slang term meant to identify particular countries that will offer businesses and individuals a place to deposit assets with little or no tax consequence. In addition, there is little to no regulation in a tax…
Legal Terms - Tax Law: Tax Law information: The area of law practice dealing with the internal revenue code and taxation issues. Tax lawyers find employment in many areas, from prosecution of white collar crime, to corporation, finance, accounting, and securities law.
Legal Terms - Tax Liability: Tax Liability information: The amount of unpaid taxes due, or the amount of tax that is owed after taking all allowable deductions and credits.
Legal Terms - Tax Planning: Tax Planning Information: Every taxpayer should develop a tax strategy aimed to minimize the amount of tax that will actually have to be paid to the taxing authority, both in the long term and in the short term. The first step is choosing the proper filing…
Legal Terms - Tax Rate: Tax Rate Information: A taxpayer's tax rate is the amount of tax paid expressed as a percentage of the taxpayer's taxable income. Tax rates get higher in percentage as income amounts go up. The top tax rate is 35%.
Legal Terms - Tax Refund: Tax Refund Information: The tax refund is the common term used for the repayment of overpaid taxes to the individual taxpayer. Refunds are due when the taxpayer has had too much tax withheld or the taxes paid have been overestimated. Never a good idea…
Legal Terms - Tax Shelter: Tax Shelter information: An investment strategy, or operation, that is designed to avoid tax or reduce tax. For a more complete summary on this term please see the article at Legal Term Topics and Issues - Income Tax Law.
Legal Terms - Tax Write Off: Tax Write Off information: A means of reducing a tax liability, through deductions allowed by law, or by depreciation of assets, or by accounting for losses and expenses necessarily incurred in creating the taxable thing.
Legal Terms - Taxable: Taxable information: An item or situation resulting in gain that is subject to the imposition of a tax or to taxation by a government.
Legal Terms - Taxable Income: Taxable Income Information: Taxable income is the taxpayer's adjusted gross income minus all allowable tax deductions. This taxable income amount is the figure used to calculate actual tax owed. Examples of allowable deductions for an individual taxpayer are…
Legal Terms - Taxpayer Standing Doctrine: Taxpayer Standing Doctrine information: A taxpayer does not have standing to sue the government for misusing tax money unless he or she can show a particular injury of a direct nature or a unique personal stake in the matter. This is a constitutional…
Legal Terms - Taxpayer's Offer in Compromise: Taxpayer's Offer in Compromise Information: In tax law, an Offer in Compromise is a good faith proposal made by a taxpayer that is allegedly in arrears to the IRS. The proposal is made directly to the IRS and is an effort to dispose of an unpaid tax…
Legal Terms - Tenancy in Common: Tenancy in Common information: Two or more persons having the same title to real property hold as tenants in common and each are entitled to possess the whole of the property.
Legal Terms - Tenant: Tenant information: One who rents real property from the owner, known as a landlord.
Legal Terms - Tender Of Performance: Tender Of Performance information: In contract law, a person tenders his performance by offering to perform even in light of the other party's breach. Thus, the contract is enforceable and damages may be shown.
Legal Terms - Tender Offer: Tender Offer information: As a matter in corporate law, an offer made to a company’s shareholders, to buy their shares at a certain price, is an offer buy the company for tender of their shares at that price.
Legal Terms - Testamentary Trust: Testamentary Trust information: This is a trust created by the settlor, or benefactor, through his will and that becomes effective on his passing.
Legal Terms - Testate: Testate information: One who makes a will is a testator and he or she is said to be testate when the will exists. Having no will is to be intestate.
Legal Terms - Testator: Testator information: One who makes a will.
Legal Terms - Testify: Testify information: To give evidence, under oath, in court or at a deposition.
Legal Terms - Theft: Theft information: The taking of another's property with the intention of permanently depriving that person of that property.
Legal Terms - Title: Title information: The degree of ownership a person can have in a particular piece of property. Your title to the property is all that you in fact possess and all that you can transfer to others. Thus, a squatter has little if any rights, a tenant holds…
Legal Terms - Title Company: Title Company information: A company that collects all available information on a real estate sale according to a contract. As a middleman, the title company facilitates the sale, for a fee, and transfers title to the buyer and cash to the seller. In most…
Legal Terms - Title Insurance: Title Insurance information: An insurance policy that insures the status of the title to a specific parcel of real property. In exchange for the premium, title insurance companies assume the risk that title to a parcel of real estate is other than as it is…
Legal Terms - Tort: Tort information: A civil wrong for which the law allows a remedy. Torts are the wide field of non criminal causes of action available to injured, maligned, or damaged persons.
Legal Terms - Tortious Interference: Tortious Interference information: A wrongful and intentional damaging of another person's contractual relationship or business expectancy.
Legal Terms - Toxic Tort: Toxic Tort information: A negligence action brought generally against the manufacturer of a chemical or toxic substance that caused an injury. Toxic tort cases are quite often certified as class actions where plaintiffs are numerous.
Legal Terms - Trade Name: Trade Name information: Name by which a business is known. This name may or may not be registered and it may be different than the name of the product.
Legal Terms - Trade Secret: Trade Secret information: Information or technical material, or otherwise, not a matter of common knowledge in the field or trade, that has some recognizable value that is or can be used for the owner's competitive advantage, and if it has a measure of…
Legal Terms - Trademark Registration: Trademark Registration information: The statutory process by which a valid trademark can be registered and protected from unauthorized use.
Legal Terms - Trademark Search: Trademark Search information: A perusal of agency records to determine is a contemplated trademark is available for registration. This is a notice matter.
Legal Terms - Transfer in Fraud of Creditors: Transfer in Fraud of Creditors information: In bankruptcy matters, and in breach of contract cases, a transfer in fraud of creditors is a sale or other transfer of property made for the purpose to impede the rights or to prevent the transferor's creditors…
Legal Terms - Transferee: Transferee information: One to whom property is transferred, or the receiver of property.
Legal Terms - Transferee Liability: Transferee Liability information: The Internal Revenue Service (IRS) can require payment of a tax by the transferee even though the tax is really owed by the transferor, up to the limit of the property's value. For example, the receiver of a taxable gift is…
Legal Terms - Transferor: Transferor information: One who delivers or transfers possession of property to another, who is then known as the transferee.
Legal Terms - Treason: Treason information: Treason is a criminal offense consisting of attempting to overthrow the government. This offense, by information, will not be prosecuted if the government is actually overthrown. There must be proven a breach of a duty of allegiance by…
Legal Terms - Treasury Bond: Treasury Bond information: For various purposes, the Federal Government from time to time issues long term debt securities known as Treasury Bonds. Usually, these bonds are very safe, pay low interest, and don't mature for 10 to 30 years.
Legal Terms - Treasury Note: Treasury Note information: Similar to Treasury Bonds, Treasury Notes are intermediate term (2 to 5 year maturity) debt securities. Usually, these securities, or notes, are very safe and as a result pay low interest.
Legal Terms - Treble Damages: Treble Damages information: Some few statutes allow for a tripling of actual damages awarded in a case as a means of punishing the defendant or inducing the public to obey the particular law or regulation at issue.
Legal Terms - Trespass: Trespass information: Any of the several unlawful infringements, or interferences possible, into the rights or property of another. Commonly, the term today refers to unauthorized entry on real property. At one time trespass was a much more general term…
Legal Terms - Trust: Trust information: The enforceable right to the beneficial use or enjoyment of particular and specific property, the legal title of which is actually vested in another. A trust is created by a settlor who requests a third party (the trustee) hold and manage…
Legal Terms - Trust Fund: Trust Fund information: The fund, asset, or other specific property that is held by the trustee of a trust for the benefit of another. This fund or asset is also called the corpus (body) of the trust.
Legal Terms - Trustee: Trustee information: One who receives the property of another, or responsibility for the property of another, in trust, for the benefit of another.
Legal Terms - Truth in Lending Act: Truth in Lending Act information: A Federal law that generally requires some level of veracity in public advertisements of products or services, and provides some minimal penalties.
Legal Terms - Turnkey: Turnkey information: A state of readiness that a property can be described to be in, meaning that all the new owner must do is turn the key in the door, everything else needed is in place and is immediately ready to go. A turnkey is also a slang term for a…
Legal Terms Immigrant Visa: Immigrant Visa information: The basic document that allows a person coming into the United States to obtain a Green Card allowing him or her to be employed. For a more complete summary on this term
Legal Terms Income Tax Avoidance: Income Tax Avoidance information: This is what privately employed tax lawyers are best employed to do: avoiding tax by taking full and complete advantage of all legally available income tax planning opportunities.
Legal Terms J. D.: . D. information: A degree conferred on graduating law students, known as a juris doctor degree. Most states require a J.D. degree as a prerequisite to taking the bar examination.
Legal Terms Joint Account: Joint Account information: An account in a bank or brokerage office that has more than one person in ownership of the account, such that each joint account owner has the right to possess or withdraw all of the joint funds contained in the account, and the…
Legal Terms Joint Custody: Joint Custody information: In divorce law, joint custody is where each divorcing parent is awarded custody of the child(ren) and thereafter share responsibility and authority for raising the child(ren). In most joint custody situations the child(ren)…
Legal Terms Joyriding: Joyriding information: The taking of another's automobile for the purpose of temporarily riding around, in mischief, and not to permanently deprive the owner of possession. This is usually a juvenile act.
Legal Terms Jumping Bail: Jumping Bail information: A common term for when the defendant released on bail leaves the jurisdiction unlawfully.
Legal Terms Jurisdiction: Jurisdiction information: A court's authority is described by its jurisdiction. It is subject matter limited and also limited by territory. To make a valid ruling in a case, the court must have subject matter jurisdiction of the matter in controversy…
Legal Terms Justifiable Homicide: Justifiable Homicide information: An excusable killing of another, by reason of self defense, or valid defense of another.
Legal Terms Knock and Announce: Knock and Announce information: Entry by an officer into a dwelling, on probable cause, after knocking and announcing his or her indention to do so.
Legal Terms Mail Telephone Order Rule: Mail/Telephone Order Rule information: This rule requires an advertiser of merchandise to have a reasonable basis for stating that merchandise can be shipped within a certain time. Direct marketers refer to this rule as the 30-day Rule.
Legal Terms Mail/Telephone Order Rule: Mail/Telephone Order Rule information: This rule requires an advertiser of merchandise to have a reasonable basis for stating that merchandise can be shipped within a certain time. Direct marketers refer to this rule as the 30-day Rule.
Lemon Laws: The sale of new passenger cars is subject to what is called the Lemon Law. Each state will have its own version of the lemon law. The term "lemon" has long been used to refer to bad cars. Under the lemon laws, new cars that fail to conform to the warranty…