Liabilities - Law Dictionary Search Results
pro rata
pro rata [Latin] : proportionately according to an exactly calculable factor (as share or liability) pro rata adj
safe harbor
safe harbor : something (as a statutory or regulatory provision) that provides protection (as from a penalty or liability) [had no safe harbor from prosecution]
self-insure
self-insure : to insure by self-insurance (as in workers' compensation) [an employer wishing to its liability "Pennsylvania Statutes"] vi : to use self-insurance [a governmental agency that s] self-in·sur·er n
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unified credit
is $192,800. The amount of the credit to be used in each period cannot exceed that period's tax liability, and so the credit may be gradually used up over a period of years. The unified credit is
trust
by some kind of commercial activity, transferable certificates of interest, existence continuing after the death of beneficiaries, limited liability, legal title in the hands of trustees, and officers having duties of management called also common-law trust Massachusetts
underwrite
underwrite -wrote [-rōt, -rōt] -writ·ten [-rit-n, -rit-n] -writ·ing 1 a : to assume liability for (a risk) as an insurer [the insurer s individuals, not the group, in franchise health insurance] b
underinsurance
2 : insurance coverage protecting usually against uninsured or underinsured motorists by compensating the insured if the tortfeasor's liability policy limits fall short of the insured's losses : insurance providing uninsured motorist coverage
unavoidable accident
of any party or that is unforeseeable or not preventable by exercise of reasonable precautions and for which liability based on fault is not imposed compare act of god
umbrella
supplemental insurance policy that extends the coverage of an underlying policy on the same risk [an policy] [ liability insurance]
ultrahazardous
ultrahazardous : being of such extreme danger or risk of harm that strict liability will be imposed
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