Tag: party

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...

Land Lease Option

Land Lease Option What is 'Land Lease Option' An option within a lease contract that grants the lessee the right to extend...

Lady Macbeth Strategy

Lady Macbeth Strategy What is 'Lady Macbeth Strategy' A corporate-takeover strategy with which a third party poses as a white knight to...

Land Trust

DefinitionThere are two distinct definitions of a land trust... Land Trust What is 'Land Trust' A legal agreement where a trustee is...

Easement In Gross

Easement In Gross What does 'Easement In Gross' mean An easement in gross is an easement that attaches a particular right to...

Obligor

Obligor What is an 'Obligor' An obligor, also known as a debtor, is a person or entity who is legally or contractually...

Tailgating

DefinitionTailgating is when a driver drives behind another vehicle while not leaving sufficient distance to stop without causing a collision if the vehicle in...

A-B Trust

A-B Trust What is 'A-B Trust' A trust created by a married couple with the objective of minimizing estate taxes. An A-B...

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