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Opposite of ferae naturae (below) donatio mortis causa: deathbed gift Gift causa mortis; "The donor, contemplating imminent death, declares words of present gifting and delivers the gift to the donee or someone who clearly takes possession on behalf of the donee. The gift becomes effective at death but remains revocable until that time."
In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement. In U.S. Generally Accepted Accounting Principles (U ...
Under U.S. tax rules, the de minimis rule governs the treatment of small amounts of market discount. Under the rule, if a bond is purchased with a small amount of market discount (an amount less than 0.25% of the face value of a bond times the number of complete years between the bond's acquisition date and its maturity date) the market discount is considered to be zero and the discount on the ...
t. e. Statutory interpretation is the process by which courts interpret and apply legislation. Some amount of interpretation is often necessary when a case involves a statute. Sometimes the words of a statute have a plain and a straightforward meaning. But in many cases, there is some ambiguity in the words of the statute that must be resolved ...
Contra proferentem (Latin: "against [the] offeror"), [1] also known as "interpretation against the draftsman", is a doctrine of contractual interpretation providing that, where a promise, agreement or term is ambiguous, the preferred meaning should be the one that works against the interests of the party who provided the wording. [2]
A cartoon in Hugo Gernsback 's Electrical Experimenter lampooning proposed regulations to make radio a monopoly of the US Navy. " Everything which is not forbidden is allowed " is a legal maxim. It is the concept that any action can be taken unless there is a law against it. [1][2] It is also known in some situations as the " general power of ...
Severability. In law, severability (sometimes known as salvatorius, from Latin) refers to a provision in a contract or piece of legislation which states that if some of the terms are held to be illegal or otherwise unenforceable, the remainder should still apply. Sometimes, severability clauses will state that some provisions to the contract ...
The enumerated powers (also called expressed powers, explicit powers or delegated powers) of the United States Congress are the powers granted to the federal government of the United States by the United States Constitution. Most of these powers are listed in Article I, Section 8.