Glossary

Legal glossary

763 definitions · page 7 of 13.

Legal Terms Negative Pregnant: Negative Pregnant information: In pleading practice, this is an averment that denies but admits some of the allegations. A negative statement that implies an affirmative. Absurdly, "I didn't do it, but I wasn't the only one!"
Legal Terms Negligence: Negligence information: The failure to do something, or doing something wrongly, such that a reasonable person would have acted differently, such that a person is injured. Negligence cases are civil matters where there is a breach of a duty owed to another…
Legal Terms Negotiable Instrument: Negotiable Instrument information: Any instrument, containing a contract to pay money, or any other negotiable security representing money, which is in a form capable of being sued on by the holder, in his own name and, and that is transferable by custom of…
Legal Terms Net Estate: Net Estate information: Estate property left after payment of debts and funeral expenses, and any other appropriate charges.
Legal Terms Net Lease: Net Lease information: A Net Lease is one that requires the tenant to bear many of the costs associated with the rented property, such as real estate taxes, maintenance, utilities and insurance.
Legal Terms Next Friend: Next Friend information: One appointed by a court to represent a child or minor in prosecution of a cause of action. Usually governed by court rule.
Legal Terms No Contest: No Contest information: In criminal law, a pleading by a defendant that does not admit the charge but acknowledges that the charge would likely be proven. The charges are therefore not contested.
Legal Terms Nolle Prosequi: Nolle Prosequi information: Where the prosecutor formally declares that he or she will no longer prosecute a particular case.
Legal Terms Nolo Contendre: Nolo Contendre information: Where the defendant literally does not contest the charges.
Legal Terms Nominal Damages: Nominal Damages information: A small sum awarded to plaintiff in a civil case but may be support for a larger punitive damage award.
Legal Terms Short Term Loan: Short Term Loan Information: A short term loan gets it name from the fact that it is financing meant to span a financial gap of short duration, usually less than one year. Interest rates may be higher on short term loans and less security may also be…
Legal Terms - Income Tax Evasion: Income 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. Income tax evasion is a crime and has both civil and criminal penalties.
Legal Terms - Internal Revenue Code: Internal Revenue Code Information: The Internal Revenue Code, sometimes called the tax code, is the large body of statutes and regulations that make up the United States Tax law. Each time a tax law is changed it becomes part of the body of the Internal…
Legal Terms - Judgment Notwithstanding the Verdict (JNOV): Judgment Notwithstanding the Verdict (JNOV) information: This occurs when the judge enters a judgment nullifying a jury verdict, otherwise proper, because the judge believes the jury got it way wrong.
Legal Terms - Jurisdictional Amount: Jurisdictional Amount information: Some jurisdiction is limited by the size of the case at issue. For example, a small claims court has no jurisdiction to make an award above the small claim limit. Similarly, there are thresholds in some courts where the…
Legal Terms - Non Dischargable Debt: Non-Dischargable Debt information: A debt that may not be discharged, even in bankruptcy, such a student loan.
Legal Terms - Non Disclosure Agreement: Non Disclosure Agreement information: An agreement to keep a matter secret. This is very common in settlements in civil matters.
Legal Terms - Notary Seal or Stamp: Notary Seal or Stamp Information: The notary public will use an embosser of some sort, either a notary seal or a notary stamp, to imprint a document that has been notarized. Since a notary is a public officer appointed under State law administer an oath, to…
Legal Terms - Novation: Novation information: The substitution of a new contract for an old one, or one party for a new one.
Legal Terms - Nuisance: Nuisance information: A condition on property, or a use of property that interferes with a neighboring owner’s ability to enjoy their property.
Legal Terms - Objective Theory of Contract: Objective Theory of Contract information: A doctrine of contract interpretation that looks to the contract itself for meaning, rather that giving weight to any subjective notions, such as the concept that minds must meet in order to contract. The corollary…
Legal Terms - Obligation: Obligation information: A person has an obligation where he or she must (or should) perform some act, or not perform some act, based on a moral or legal duty.
Legal Terms - Obligee: Obligee information: In contract law, the obligee is the person to whom an obligation is owed.
Legal Terms - Obligor: Obligor information: In contract law, the obligor is the person that owes or is obligated to another.
Legal Terms - Obscene: Obscene information: Material that is extremely offensive when considered in light of contemporary community standards or morality and decency. Gross and repugnant. Obscene is a difficult term to precisely define. One Supreme Court Justice actually wrote in…
Legal Terms - Occupational Safety & Health (OSHA) Act: Occupational Safety & Health (OSHA) Act information: Federal law governing some aspects of safety in some workplaces.
Legal Terms - Offer: Offer information: To bid or present an opportunity for another to accept a proposition. Significant in contract law.
Legal Terms - Offer in Compromise: 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 liability…
Legal Terms - Offer of Proof: Offer of Proof information: In evidence law, where the judge denies admission of certain evidence, the proponent may request to make an offer of the evidence to the court on the record, outside the hearing of the jury.
Legal Terms - Offshore Bank Account: Offshore Bank Account Information: This is an account that is housed in a financial institution located outside the jurisdiction of the US Banking System and its regulations. Investment products that are sold in the US by the offshore bank are subject to US…
Legal Terms - Offshore Company: Offshore Company Information: A US business concern that is organized and incorporated outside of the US is called an Offshore Company or Offshore Corporation. The distinction applies even though all or most of the company's business activities occur inside…
Legal Terms - Online Broker: Online Broker Information: An online broker will include all brokerage houses that execute buy and sell trade orders for their customers over the internet. Online Brokers generally do not offer many of the research tools or financial advice that may be…
Legal Terms - Online Trading: Online Trading Information: Online trading is simply a term that describes the buying and selling of securities and investment products by computer over the internet rather than transacted at a more traditional brokerage office. Online trading will occur…
Legal Terms - Opening Statement: Opening Statement information: Comments of an attorney addressed to a jury or judge at the beginning of a trial, meant to acquaint the jury with the case and the evidence that the party expects to prove.
Legal Terms - Opinion Testimony: Opinion Testimony information: Evidence that is based not on direct contact with an event, but based on belief. There are many situations where opinion testimony may come into evidence, but on ultimate issues, opinions will not suffice. Expert witnesses are…
Legal Terms - Order: Order information: A court directive to a party. A ruling on a motion. A judgment.
Legal Terms - Order to Show Cause: Order to Show Cause information: An order directing a party to come into court and show a reason the court should not enter further orders of judgment against that party.
Legal Terms - Ordinance: Ordinance information: A law or statute, usually made by the legislative body of a municipality.
Legal Terms - Ordinary Income: Ordinary Income information: A tax law concept. Wages, interest, net income from a business, and dividends are basically all lumped into what is deemed ordinary income. Income that does not qualify as a capital gain is ordinary income.
Legal Terms - Overreaching: Overreaching information: Taking unfair commercial advantage of a situation, particularly by fraudulent means. Overreaching is essentially going too far and applies precisely when the going too far ruins the advantage, such as killing the goose that laid the…
Legal Terms - Own Recognizance: Own Recognizance information: Release from custody on the Defendant's own word that he or she will return when summoned to future hearings.
Legal Terms - Owners' Equity: Owners' Equity information: An asset, which is the portion of a property that the owner has interest in free of any debt or encumbrance. Value of the property minus the debt on the property equals the owners' equity in the property.
Legal Terms - Pain and Suffering Damages: Pain and Suffering Damages Information: In civil cases, "Pain and Suffering" is an element of damages for which the injured party may claim money compensation. The loss of a person's physical ability, such as the loss of the use of a hand, foot or eye…
Legal Terms - Palimony: Palimony information: In the nature of alimony between divorced persons, palimony is an award of periodic money payments made by a court from one person to another after they have lived together, or cohabitated, for a period of time and dependence exists.
Legal Terms - Par Value: Par Value information: The face value, or issue value, of stock or security.
Legal Terms - Paralegal: Paralegal information: A person qualified by education, training or experience, to perform substantive legal work involving knowledge of legal concepts.
Legal Terms - Partition: Partition information: In real property issues, this is a civil action brought by one co-tenant against another co-tenant for a judicial determination of interests and an order to divide their interests in the co-owned property and for compensation…
Legal Terms - Party: Party information: A litigant, or a person involved as a principal in a lawsuit.
Legal Terms - Patent and Trademark Office: Patent and Trademark Office information: Agency within the U.S. Department of Commerce charged with examining patent and copyright applications and ultimately issues patents and registers trademarks.
Legal Terms - Patent Pending: Patent Pending information: This is the state of the patent during the time the Department of Commerce is considering whether to approve the application and issue a patent. Patent protection exists during the period of consideration if the patent is…
Legal Terms - Payroll Taxes: Payroll Taxes Information: In order to guarantee individuals have money to pay their taxes when they are actually due, and to avoid back tax and tax penalty problems, the federal tax code provides that employers can deduct from wages and salary due the…
Legal Terms - Pecuniary: Pecuniary information: Money or relating to money. A person with a money interest in a fund of some type may be said to have a pecuniary interest. Profit is a pecuniary gain.
Legal Terms - Pension: Pension information: Periodic payments made after retirement from an occupation.
Legal Terms - Peremptory Challenge: Peremptory Challenge information: The automatically allowed striking of a few prospective jurors during the jury selection process. Both sides get the same number. Strikes after all peremptory challenges must then be for cause.
Legal Terms - Performance: Performance information: In contract law, performance occurs when the specific contractual duty or obligation is complete and futher performance is no longer required.
Legal Terms - Perjury: Perjury information: The crime of lying under oath. Specifically, to be guilty, the lie must be on a material issue in the case the false testimony is offered on.
Legal Terms - Permanent Resident: Permanent Resident information: An immigration status that allows a person to live permanently in the US and to travel in and out of the country without a visa, to work at any job, and to accumulate time toward qualifying for US citizenship.
Legal Terms - Personal Injury: Personal Injury information: The area of civil law practice that deals with injuries to persons.
Legal Terms - Personal Property: Personal Property information: Tangible property, things, not land.
Legal Terms - Personal Representative: Personal Representative information: The person or entity that is charged by the court with managing a decedent's estate.