Legal Dictionary

Search results for: “sale at less than fair value”

  • Bargain Sale

    United States Tax Concept of Bargain Sale to Charity The sale of property to a charity at a price that’s less than the fair market value. Under certain circumstances this may result in a tax deduction or taxable income to you. If the property has appreciated in value you must allocate your […]

  • Chilling A Sale

    A combination or conspiracy among bidders at a sale to suppress fair competition for the purpose of acquiring property at less than fair value. Vette v Hackman, 237 S. W. 802, 292 Mo. 138.

  • Consumer

    nounbuyer buyer of labor client clientele coemptor customer emptor leaser lessee obtainer patron procurer purchaser purchaser of goods shopper transferee<…

  • Contract

    Legal Definition and Related Resources of Contract Meaning of Contract A deliberate engagement between competent parties upon a legal consideration to do or abstain from doing some act. It is essential to the creation of a contract that the […]

  • Interest

    Interest

    Legal Definition and Related Resources of Interest Meaning of Interest In relation to being objectively concerned in something, by having a right or title to, a claim upon, or a share in. legal concern in a thing; especially right or title to […]

  • Goodwill

    The advantage or benefit which is acquired by a business, beyond the mere value of the capital, stock, funds or property employed therein, in consequence of the general public patronage and encouragement which it receives from constant or habitual customers. See Metropolitan Nat. Bank v St. […]

  • Forfeiture

    Legal Definition and Related Resources of Forfeiture Meaning of Forfeiture Denotes the loss of some right , property , benefit or privilege by a person as a result of having Committed a crime or breached some legal obligation imposed on him. […]

  • Forfeiture

    Legal Definition and Related Resources of Forfeiture Meaning of Forfeiture Denotes the loss of some right , property , benefit or privilege by a person as a result of having Committed a crime or breached some legal obligation imposed on him. […]

  • Consideration

    Consideration

    In contracts consideration consists either in some right , interest , profit or benefit accruing to the one party , or some forbearance , detriment , loss or responsibility given, suffered or undertaken by the other . Something moving from one party to another, either to benefit of […]

  • Consideration

    Consideration

    In contracts consideration consists either in some right , interest , profit or benefit accruing to the one party , or some forbearance , detriment , loss or responsibility given, suffered or undertaken by the other . Something moving from one party to another, either to benefit of […]

  • Consent

    The deliberate assent amounting to an active acquiescence . An act of reason, accompanied with deliberation, the mind weighing, as in the balance , the good or evil of either side. To constitute consent, there must be a bargain between two parties . See People v Westek, 109 […]

  • Consent

    The deliberate assent amounting to an active acquiescence . An act of reason, accompanied with deliberation, the mind weighing, as in the balance , the good or evil of either side. To constitute consent, there must be a bargain between two parties . See People v Westek, 109 […]

  • Public

    Legal Definition and Related Resources of Public Meaning of Public All the inhabitants of a particular place . The whole body politic; or the aggregate of the citizens of a state , district or municipality . Open to all, open for the use, […]

  • Right

    Legal Definition and Related Resources of Right Meaning of Right In its legal sense, the term denotes the liberty or privilege conferred or protected by law of doing or abstaining from doing an act or the power or privilege enforced by law of […]

  • Shall

    Ordinarily where a statute uses the word shall its provision is imperative . Escoe v Zerbst, 295 U.S. 490, 55 S. Ct. 818, 79 L. Ed. 1566. But if such an imperative interpretation leads to inconsistencies with the expressed intention or declared purpose of the act, it is then […]