A statute, adopted by almost all states, that provides a method for transferring property to minors and arranging for an adult to manage it until the child is o... (more...)

A statute, adopted by almost all states, that provides a method for transferring property to minors and arranging for an adult to manage it until the child is old enough to receive it. See custodian.

FAILURE OF CONSIDERATION

The refusal or inability of a contracting party to perform its side of a bargain.

YELLOW-DOG CONTRACT

An employment contract in which the employer forbids the employee to join a labor union. Yellow-dog contracts are not legally enforceable.

APPRECIATION

An increase in value. Appreciated property is property that has gone up in value since it was acquired.

LANDLORD

The owner of any real estate, such as a house, apartment building or land, that is leased or rented to another person, called the tenant.

LIFE TENANT

One who has a life estate in real property.

ACT OF GOD

An extraordinary and unexpected natural event, such as a hurricane, tornado, earthquake or even the sudden death of a person. An act of God may be a defense aga... (more...)

An extraordinary and unexpected natural event, such as a hurricane, tornado, earthquake or even the sudden death of a person. An act of God may be a defense against liability for injuries or damages. Under the law of contracts, an act of God often serves as a valid excuse if one of the parties to the contract is unable to fulfill his or her duties -- for instance, completing a construction project on time.

LIQUID ASSETS

Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.

BEQUEST

The legal term for personal property (anything but real estate) left in a will.

SAMPLE LEGAL CASES

Davis v. CHOCTAW CONSTRUCTION, INC.

Glen R. Davis brought this action against Choctaw Construction, Inc. (Choctaw), doing business as Mid-America Pump & Supply, alleging that his brief employment with the company was wrongfully terminated. After a bench trial and judgment in favor of Davis, Choctaw moved for a new ...

Lexington Insurance Company v. Entrex Communication Services, Inc.

... The contract between Hearst and Entrex was an American Institute of Architects (AIA) standard form of agreement, document A101-1997. The agreement incorporated another AIA standard form of general conditions of the contract for construction, document A201-1997. ...

R & D PROPERTIES, LLC v. ALTECH CONST. CO.

... 74. R & D PROPERTIES, LLC, appellant, v. ALTECH CONSTRUCTION CO., defendant and third-party plaintiff, and Thunn Construction, Inc., third-party defendant, appellees. No. ... R & D Properties, LLC (R & D), plaintiff, entered into a contract with Altech Construction Co. ...

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LEGAL TERMS

UNIFORM TRANSFERS TO MINORS ACT

FAILURE OF CONSIDERATION

YELLOW-DOG CONTRACT

APPRECIATION

LANDLORD

LIFE TENANT

ACT OF GOD

LIQUID ASSETS

BEQUEST

SAMPLE LEGAL CASES

Davis v. CHOCTAW CONSTRUCTION, INC.

Lexington Insurance Company v. Entrex Communication Services, Inc.

R & D PROPERTIES, LLC v. ALTECH CONST. CO.

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