Usually the loan is used to develop the property and build upon it, and then there is a division of profits upon sale-if there is a profit. nick-named REIT, a real estate investment organization which finds investors and buys real property and gives each investor either a percentage interest in the property itself or an interest in a loan secured by a mortgage or deed of trust on the property. See: corporation, shareholder, limited partnership, partnership, liquidated damages A New Law Dictionary, Intended for General Use as Well as for Gentlemen of the Profession. Search medical terms and abbreviations with the most up-to-date and comprehensive medical dictionary from the reference experts at Merriam-Webster. It contains over 4,200 entries that clearly define. Parties to a contract can limit the amount each might owe the other, but cannot contract away the rights of a third party to make a claim. This best-selling dictionary is an authoritative and comprehensive source of jargon-free legal information. With over 20,000 legal terms, A Law Dictionary is the authoritive source of legal words and terms based upon Black's Law Dictionary. A stockholder in a corporation can only lose his/her investment, and a limited partner can only lose his/her investment, but a general partner can be responsible for all the debts of the partnership. A person charged with a criminal offence. Jurisdictions basis of applying law consists of (1) A constitution, written or oral (2) Primary legislation, statutes, and laws. a rule, usually made by a government, that is used to order the way in which a society behaves: There are laws against drinking in the street. Allegation - a claim made against someone, often. For example, when a formerly married couple agree the terms of their divorce. Agreement - where two parties reach consensus on a set of facts or course of action. For example, a conveyancer who acts on behalf of a couple buying a house. Find the legal definition of LEGAL SYSTEM from Blacks Law Dictionary, 2nd Edition. Agent - someone who acts on behalf of someone else. the maximum amount a person participating in a business can lose or be charged in case of claims against the company or its bankruptcy. In contract law, acceptance is a final and unqualified expression of assent as to the terms of the offer.1. TLD Example: The American legal system traces its origins to the principles of law and jurisprudence of English common law. The most popular legal definitions: limited liability
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