Fairview Construction Lawyer, West Virginia
Includes: Construction Contracts, Construction Liens, Housing & Construction Defects
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LEGAL TERMS
NULLA BONA
Latin for 'no goods.' This is what the sheriff writes when she can find no property to seize in order to pay off a court judgment.
PRECEDENT
A legal principle or rule created by one or more decisions of a state or federal appellate court. These rules provide a point of reference or authority for judg... (more...)
A legal principle or rule created by one or more decisions of a state or federal appellate court. These rules provide a point of reference or authority for judges deciding similar issues in later cases. Lower courts must apply these rules when faced with similar legal issues. For example, if the Montana Supreme Court decides that a certain type of employment contract overly restricts the right of the employee to quit and get another job, all other Montana courts must apply this same rule.
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.
TANGIBLE PERSONAL PROPERTY
Personal property that can be felt or touched. Examples include furniture, cars, jewelry and artwork. However, cash and checking accounts are not tangible perso... (more...)
Personal property that can be felt or touched. Examples include furniture, cars, jewelry and artwork. However, cash and checking accounts are not tangible personal property. The law is unsettled as to whether computer data is tangible personal property. Compare intangible property.
COMMERCIAL FRUSTRATION
An unforeseen and uncontrollable event that excuses a party to a contract from performing his or her duties under that contract. For example, a landlord can bre... (more...)
An unforeseen and uncontrollable event that excuses a party to a contract from performing his or her duties under that contract. For example, a landlord can break a lease if the property she agreed to rent accidentally burns down before the tenants move in.
INCIDENTS OF OWNERSHIP
Any control over property. If you give away property but keep an incident of ownership--for example, you give away an apartment building but retain the right to... (more...)
Any control over property. If you give away property but keep an incident of ownership--for example, you give away an apartment building but retain the right to receive rent--then legally, no gift has been made. This distinction can be important if you're making large gifts to reduce your eventual estate tax.
DIVIDEND
A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash,... (more...)
A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash, though they may also be paid in the form of additional shares of stock or other property. The amount of a dividend is established by the corporation's board of directors; however, state laws often restrict a corporation's ability to declare dividends by requiring a minimum level of profits or assets before the dividend can be approved.
COOLING-OFF RULE
A rule that allows you to cancel a contract within a specified time period (typically three days) after signing it. Federal cooling-off rules apply this three-d... (more...)
A rule that allows you to cancel a contract within a specified time period (typically three days) after signing it. Federal cooling-off rules apply this three-day grace period to sales made door-to-door and anywhere other than a seller's normal place of business, such as at a trade show. Another federal cooling-off rule lets you cancel a home improvement loan or second mortgage within three days of signing. Various states have cooling-off rules that sometimes apply even longer cancellation periods to specific types of sales, such as dancing lessons and timeshares.
APPRAISER
A person who is hired to determine the current value of real estate or other property.
SAMPLE LEGAL CASES
MOUNTAIN COMMUNITIES v. PUB. SERV. COM'N
MOUNTAIN COMMUNITIES FOR RESPONSIBLE ENERGY, Intervenor Below, Appellant v.
PUBLIC SERVICE COMMISSION OF WEST VIRGINIA and Beech Ridge Energy, LLC; West
Virginia State Building and Construction Trades Council, AFL-CIO, Defendants Below ...
Mylan Laboratories v. AMERICAN MOTORISTS
... Also, the circuit court's order is based on its construction of the language in certain insurance
policies. ... Co., 159 W.Va. 508, 223 SE2d 441 (1976). However, "[t]he mere fact that parties do
not agree to the construction of a contract does not render it ambiguous. ...
BUILDERS'SERVICE AND SUPPLY CO. v. Dempsey
... SERVICE AND SUPPLY COMPANY, Plaintiff Below, Appellee, v. Christal M. DEMPSEY, a/k/a
Christal M. Smith, and Clark Sinclair, Sheriff of Taylor County, West Virginia, Defendants and
Third-Party Plaintiffs Below, v. Edward Charlton, d/b/a Charlton Construction, Third-Party ...
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