The official name used in immigration law for a green card.

Compulsory employment benefits provided by a state or federal government to ensure a minimum standard of living for lower and middle income people. Survivors benefits, disability benefits and health insurance are common examples. Also called social insurance.

A method of paying a lawyer for legal representation by which, instead of an hourly or per job fee, the lawyer receives a percentage of the money her client obtains after settling or winning the case. Often contingency fee agreements — which are most commonly used in personal injury cases — award the successful lawyer [...]

Overdue alimony or child support payments. In recent years, state laws have made it difficult to impossible to get rid of arrearages; they can’t be discharged in bankruptcy, and courts usually will not retroactively cancel them. A spouse or parent who falls on tough times and is unable to make payments should request a temporary [...]

A term used in trademark law. The Lanham Act permits a mark not yet used in commerce to be reserved for later registration by filing an intent-to-use application with the U.S. Patent and Trademark Office (PTO). The initial reservation lasts for six months and can be extended for up to five additional six-month periods (for [...]

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

See capitalized interest.

(1) To refuse or give away a claim or a right to something. For example, if your aunt leaves you a white elephant in her will and you don’t want it, you can refuse the gift by disclaiming your ownership rights. (2) To deny responsibility for a claim or act. For example, a merchant that [...]

See Loss Damage Waiver (LDW).

See Truth in Lending Act.

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick’s benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

The outcome of a proceeding before a judge, arbitrator, government agency or other legal tribunal. “Decision” is a general term often used interchangeably with the terms judgment or “opinion.” To be precise, however, a judgment is the written form of the courts decision in the clerks minutes or notes, and an opinion is a written [...]