Principally - Law Dictionary

principal

principal 1 : being the main or most important, consequential, or influential [their place of business] [the obligor] 2 : of, relating to, or constituting principal or a principal [the amount of the loan] n 1 : a participant in an action or transaction esp. having control or authority [the s of a business]: as a : one who engages another to act for him or her subject to his or her general control or instruction : one from whom an agent derives authority to act compare fiduciary b : one who commits a crime or instigates, encourages, or assists another to commit it esp. when constructively or actually present see also accessory principal in the first degree : a principal under common law who intentionally commits and is actually or constructively present at the commission of a crime principal in the second degree : a principal under common law who aids, encourages, or commands another to commit a crime and is actually or constructively present when it is committed c : the per...

Principal and agent

Principal and agent, he who being sui juris, and competent to do any act for his own benefit on his own account, employs another person to do it, is called the principal constituent, or employer, and he who is thus employed is called the agent, attorney, proxy, or delegate of the principal, constituent or employer. The relation thus created between the parties is termed an agency. The power thus delegated is called in law an authority. And the act, when performed, is often designated as an act of agency or procuration, Story on Agency, 3. See AGENT; POWER OF ATTORNEY; VICARIOUS RESPONSIBILITY; and consult Bowstead on Agency or Wright on Principal and Agent.Principal and agent, expressions 'principal' and 'agent' used in a document are not decisive. The nature of transaction is required to be determined on the basis of the substance there and not by the nomenenture use, Assam Small Scale Ind. Dev. Corporation Ltd. v. M/s J.D. Pharmacenficalse Ltd., AIR 2006 SC 131....

Principal

Highest in rank authority character importance or degree most considerable or important chief main as the principal officers of a Government the principal men of a state the principal productions of a country the principal arguments in a case...

principal applicant

principal applicant The person named in the petition. For example, an American citizen may file a petition for his married daughter to immigrate to the United States. His daughter will be the principal applicant, and her family members will get visas from her position. They will get derivative status. Or a company may file a petition for a worker. The worker is the principal applicant. Family members get derivative status. Source: Department of State. March 2007. ...

additional principal payment

additional principal payment money paid to the lender in addition to the established payment amount used directly against the loan principal to shorten the length of the loan. Source: U.S. Department of Housing and Urban Development ...

original principal balance

original principal balance the total principal owed on a mortgage prior to any payments being made. Source: U.S. Department of Housing and Urban Development ...

principal in the first degree

principal in the first degree see principal ...

principal in the second degree

principal in the second degree see principal ...

principal register

principal register Primary trademark register of the USPTO. When a mark has been registered on the Principal Register, the mark is entitled to all the rights provided by federal law. Source: U.S. Patent and Trademark Office ...

principal, interest, taxes, and insurance (piti)

principal, interest, taxes, and insurance (piti) the four elements of a monthly mortgage payment; payments of principal and interest go directly towards repaying the loan while the portion that covers taxes and insurance (homeowner's and mortgage, if applicable) goes into an escrow account to cover the fees when they are due. Source: U.S. Department of Housing and Urban Development ...

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