The act of changing a written contract when one of the parties can prove that the actual agreement was different than what's written down. The changes are usual... (more...)

The act of changing a written contract when one of the parties can prove that the actual agreement was different than what's written down. The changes are usually made by a court when both parties overlooked a mistake in the document, or when one party has deceived the other.

SEVERABILITY CLAUSE

A provision in a contract that preserves the rest of the contract if a portion of it is invalidated by a court. Without a severability clause, a decision by the... (more...)

A provision in a contract that preserves the rest of the contract if a portion of it is invalidated by a court. Without a severability clause, a decision by the court finding one part of the contract unenforceable would invalidate the entire document.

BASIS

For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the pr... (more...)

For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the property, 'adjusted' to reflect improvements made or damage incurred while you own the property. See stepped-up basis, carryover basis.

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.

SECURITY DEPOSIT

A payment required by a landlord to ensure that a tenant pays rent on time and keeps the rental unit in good condition. If the tenant damages the property or le... (more...)

A payment required by a landlord to ensure that a tenant pays rent on time and keeps the rental unit in good condition. If the tenant damages the property or leaves owing rent, the landlord can use the security deposit to cover what the tenant owes.

ASSIGNMENT

A transfer of property rights from one person to another, called the assignee.

VIEW ORDINANCE

A law adopted by some cities or towns with desirable vistas -- such as those in the mountains or overlooking the ocean -- that protects a property owner from ha... (more...)

A law adopted by some cities or towns with desirable vistas -- such as those in the mountains or overlooking the ocean -- that protects a property owner from having his or her view obstructed by growing trees. View ordinances don't cover buildings or other structures that may block views.

DEEP LINK

A link from one website to another that bypasses the second website's home page and takes the user directly to an internal page on the site. For example, a deep... (more...)

A link from one website to another that bypasses the second website's home page and takes the user directly to an internal page on the site. For example, a deep link from Yahoo might take the user directly to a news article on a news site instead of linking to the home page of the site.

HOUSE CLOSING

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has b... (more...)

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded.

SAMPLE LEGAL CASES

PH, LLC v. City of Conway

... B. Reverse Spot Zoning. PH also claims that the city council's denial of the rezoning request was reverse spot zoning because the property is an "agricultural island in a sea of residential.". ... We affirm on this point. C. Contract Zoning. ...

City of Ft. Smith v. McCutchen

... On appeal, Fort Smith argues that Ark.Code Ann. Â§ 14-56-425 (Repl.1998) is unconstitutional because it permits a de novo trial on appeal of a legislative determination made by a city Board of Zoning Adjustment (BZA). ... v. City of Little Rock Bd. of Zoning Adjustment, 261 Ark. ...

City of Jacksonville v. City of Sherwood

... area. They also stated that they were aware of, and would comply with, Sherwood's land development regulations and Jacksonville's zoning regulations designed to protect the fly zone of the Little Rock Air Force Base. Michael ...

Prescott Land Use & Zoning Lawyer, Arkansas

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LEGAL TERMS

REFORMATION

SEVERABILITY CLAUSE

BASIS

TANGIBLE PERSONAL PROPERTY

SECURITY DEPOSIT

ASSIGNMENT

VIEW ORDINANCE

DEEP LINK

HOUSE CLOSING

SAMPLE LEGAL CASES

PH, LLC v. City of Conway

City of Ft. Smith v. McCutchen

City of Jacksonville v. City of Sherwood

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