Asset - Law Dictionary Search Results
personal
b : of, relating to, or restricted to a natural person and his or her rights, obligations, affairs, assets, or lifetime [refused to disclose information] [released on recognizance] 2 : of, relating to, or constituting personal property
money
of exchange ;esp : coinage or negotiable paper issued as legal tender by a government 2 a : assets or compensation in the form of or readily convertible into cash b : capital dealt in as a
non-recourse
be obtained on default only out of the particular collateral given and not out of the debtor's other assets [a mortgage] [a creditor] compare recourse
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note
to the bearer recourse note : a note whose satisfaction upon default may be obtained from the debtor's assets other than and in addition to the collateral securing it re·new·al note : a note that continues an
order
party to turn over property to another ;esp : an order commanding a judgment debtor to turn over assets to a judgment creditor [turnover order in aid of execution "California Code of Civil Procedure"] c : a
ordinary income
ordinary income : income that does not derive from the exchange or sale of capital assets or property used in one's trade or business and that for individuals includes compensation, interest, dividends, and short-term
per capita
stirpes NOTE: Per capita distribution of an estate provides each descendant with an equal share of the estate's assets regardless of the degree of his or her kinship. Children, grandchildren, great-grandchildren, etc., all receive equal shares. 2
pierce
McGovern, Jr. et al."] pierce the corporate veil : to disregard the corporate entity and reach the personal assets of the corporation's controlling parties : hold the controlling parties (as officers or shareholders) of a corporation personally
reserve
the minimum amount as determined by government standards of the deposits held by a bank or of the assets of a life insurance company required by law to be kept as reserves loss reserve 1 : a
pour-over
act or instance of pouring over ;also : a provision esp. in a will that calls for estate assets to be transferred to a pour-over trust
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