Tag: legal
Umpire Clause
What is 'Umpire Clause' The language in an insurance policy that provides for a means of resolution by an unbiased third party...
Insurance
Definition
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of...
Joint Tenancy
DefinitionA concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than...
Joint And Several Liability
DefinitionWhere two or more persons are liable in respect of the same liability, in most common law legal systems they may either be... Joint...
James P. Mooney
What is 'James P. Mooney' A former chairman and CEO of OM Group. Born in 1947 in Ohio, Mooney began his career...
Bailee
DefinitionBailment describes a legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person to another...
Laughing Heir
DefinitionIn the law of inheritance, a laughing heir is an heir who is legally entitled to inherit the property of a person who has...
Land Contract
What is a land contract and how does it works?
A land contract is a contract between the buyer and seller of a piece of...
Land Trust
DefinitionThere are two distinct definitions of a land trust... Land Trust What is 'Land Trust' A legal agreement where a trustee is...
Law Of 29
What is 'Law Of 29' A belief held by some marketers that on average a prospective customer will not purchase a good...