The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: T

THINGS IN ACTION

a term for a creditor’s right to be paid by a debtor and a right to possession that is recoverable by a law suit.

TRAVERSE COMMON

This term is applied to the flat denial of the charges brought about by the opposing side.

TRUSTEE QUASI

This term is given to a person who benefits from breaching a trust.

TRUST SECRET

situation where a will is written and the person gives money to one person with the understanding that they will hold it in trust for another person.

TRUST SIMPLE

a trust where money or property is given to a trustee to benefit anther person.

TIME-SHARING

a situation where a few people all share the costs of a property and is entitled to use it a certain time.

TIDE LAND

the term that is used to describe land that is inundated by water as the tide comes and is uncovered when the tide turns and goes out.

TENANT-OWNER

a person who owns shares in and possessed property in cooperative apartment block or a condominium.

TYING IN

the name given to the practice of insisting you buy another product before you are able to buy the one you want.

TRUSTEE JOINT

the term that applies to 2 or more people that are named to administer the trust.

TAX EVASION

The illegal attempt to reduce your tax amount payable by fraudulent means.

TAX LOSS CARRY BACK

Provision of tax laws allowing entities to offset the current years net losses against income from the preceding years. See tax loss carry forward.

TAXABLE YEAR

12 month period used to calculate a tax payer’s liability. Also known as tax year.

TAYLOR WAGE SYSTEM

Compensation for work completed where the price paid per piece increases with the number produced. See Taylors.

TECHNICAL MANUAL

Document with instructions for operation, installation, use, maintenance, list of parts, support and any requirements for training for effectively using a machine or equipment.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.