Beneficiary - Law Dictionary Search Results

privity

strict liability and implied warranty, however, the right to sue has been extended to those, such as third-party beneficiaries and members of a purchaser's household, whose use of a product is foreseeable. 2 a : a mutual

P.O.D. account

account payable on request to an original party or upon the party's death to one or more designated beneficiaries NOTE: A P.O.D. account is one of the few vehicles for the transfer of a decedent's property outside

incident of ownership

incident of ownership :any of several rights (as the right to change beneficiaries) that may be exercised over a life insurance policy which are used as criteria for the inclusion of

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fiduciary relationship

relationships exist between agents and principals, attorneys and clients, executors or administrators and legatees or heirs, trustees and beneficiaries, corporate directors or officers and stockholders, receivers or trustees in bankruptcy and creditors, guardians and wards, and confidential

Widow

respectively attain-ing vested interests upon trusts corresponding to s. 47, supra [see s. 47 (3)]. Husband and wife, beneficiaries, count as two persons. In default of the above, see BONA VACANTIA. See also DOWER; INHERITANCE; DISTRIBUTION, STATUTE

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