The Law Dictionary for Everyone
Adverse possession is a principle of real estate law that allows a person who possesses land belonging to another person for an extended period of time, to claim legal ownership of the land. Each state has different statues and time elements required for adverse possession. When adverse possession is in place, it only pertains to the property that the person […]
Read moreAn easement is a legal right to occupy or use another person’s land for specific purposes. The use of the land is limited, and the original owner retains legal title of the land. A legally binding easement must be made in writing, the exact location stipulated in the property’s deed. Easements most commonly grant utility companies access for the purpose […]
Read moreAn executory contract is a contract made by two parties in which the terms are set to be fulfilled at a later date. The contract stipulates that both sides still have duties to perform before it becomes fully executed. The contract is often in place between a debtor or borrower and another party. To explore this concept, consider the following executory contract definition. Noun […]
Read moreThe combination, or “merger,” of two companies that are involved in totally unrelated industries, business activities, or geographic areas, is referred to as a “conglomerate merger.” A popular method of extending a range of products, or growing corporate territory in the 1960s and 1970s, conglomerate mergers rarely result in immediate financial benefits for either company, and so are seldom seen […]
Read moreA party to a contract may be relieved of his contractual obligations in the event such obligations have been made excessively expensive, harmful, or difficult to perform. If the parties cannot agree to change the terms of the contract, or to cancel the contract, it would become necessary to prove to a court the commercial impracticability of performing the specific […]
Read moreFelony meaning in law Felony is the classification of the most serious types of crimes. Covering a wide range of criminal acts, felonies often involve crimes involving physical harm, or large scale theft and fraud. Punishment for these types of crimes often includes imprisonment, the length of which is defined in each state’s penal codes. To explore this concept, consider […]
Read moreA person or entity that signs over or transfers their rights to any property or asset to another person or entity. A concept commonly used in contract law, an individual or entity has the right of assignment, which entails one party (the “assigner”) transferring the rights or benefits of a contract to another party (the “assignee”). To explore this concept, […]
Read moreBurglary is a crime defined as unlawful entry into a building or structure with the intent to commit a crime. Physically breaking and entering is not a requirement for a person to be charged with burglary. The offender only has to enter a structure, even if it is through an open door, with the intent of stealing something or causing […]
Read moreIn the U.S. criminal legal system, a prosecutor bears the burden of proving that the defendant is guilty “beyond a reasonable doubt” of the crime for which he has been accused. This means that the proposition, scenario, or facts presented by the prosecution must be proven to the jury to the extent that there could be no “reasonable doubt” in […]
Read moreThe law recognizes the need for a minimum mental capacity, or ability to understand the ramifications of a contract or legal agreement in order for such an agreement to be legal and binding. While several classes of people considered to lack sufficient mental capacity to make legally binding agreements, argument may be successfully made to the court for other circumstances […]
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