Browse Legal Phrases

law dictionaryAbandonment – Also called desertion, abandonment typically signifies that an individual has given up the right to one thing without any intention of reclaiming it. Regarding property, an individual typically abandons it by leaving it to waste away without caring for it, paying for it, or visiting it. Concerning household abandonment, an individual abandons his or her youngsters and partner by leaving them without paying help, without taking care of or caring for their wants, and without any intention of returning. Some money owed, reminiscent of debts for cash or property obtained by false pretenses and money owed for fraud or defalcation while performing in a fiduciary capability could also be declared nondischargeable only if a creditor well timed information and prevails in a nondischargeability action.

Normal partners: Owners of a partnership who are chargeable for the administration of the partnership, obtain a share of the partnership’s profits and losses, and who are personally answerable for the actions of the other companions and the money owed of the enterprise.

Each parties and their collaborative attorneys agree in writing firstly not to take the matter to courtroom, and if they do take the matter to court docket or are in any … Read More