Legal Articles

Earned Premium

If an insured person pays for a policy in advance, the “earned” premium is the portion of the policy that has already been used.

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EQUITABLE CONVERSION

This phrase applies to the alteration of property to become real estate and for real estate to become property.

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EXERCISING AN OPTION

the term for having the right to the first choice to purchase something.

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EQUALLY DIVIDED

a phrase found in wills where property will be shared and shared a like and each person will receive the same amount.

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EXECUTIVE CAPACITY

situation in an organisation that calls for a response from management.

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EXECUTORY USE

The term applied to a trust or an interest that will arise at a time in the future.

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ENDORSEMENT SPECIAL

the endorsement that specifically names a person who will receive a money payment.

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EX DELICTO

a Latin phrase that means to arise from a crime or from something that is contrary to law.

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EXPENSES DEDUCTIBLE

used to calculate income tax and is the expenses that are able to be deducted.

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ENOCH ARDEN LAWS

a law that states after being missing for a certain number of years a person is declared dead. See legally dead; presumption of death.

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EXECUTION OF INSTRUMENT

the phrase that means that a legal document has been signed, sealed and notarised.

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EQUITY JURISDICTION

an authority that is based on the nature of a matter and it will be dealt with an equitable deliberation and not one of laws.

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EASEMENT OF ACCESS

the right given to use a pathway or a road to a property that belongs to another person to give access to a road.

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EQUITABLE PLEA

a defence in a law suit that is based on equity matters. It is the same as an equitable defence.

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ERA

the abbreviation for a proposed amendment, Equal Rights Amendment to the US Constitution.

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ENFORCEABLE TRUST

another term that is given to a valid trust.

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ENDORSEMENT BLANK

the term given to an endorsement not specifying anyone in particular and permits negotiation of a payment.

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ESTATE IN BANKRUPTCY

These are the assets that go to the trustee under bankruptcy laws.

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EXEMPT INCOME

This term applies to any income that you don’t pay tax on.

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ERROR IN FACT

the error made when a court gives a judgement or verdict and doesn’t know of a fact.

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