What is the legal definition of Garnishment? In the legal context, Garnishment means A legal proceeding in which a creditor seeks to obtain payment from a debtor out of money, salary, or property of the debtor. The procedure takes place after a judgment against the debtor has already been handed down.        

What is the legal definition of Revocable Trust? In the legal context, Revocable Trust means A cancelable arrangement created by a person (“Grantor”), whereby the Grantor transfers property to a trustee to be held for the benefit of the Grantor while alive, then distributed to named beneficiaries.        

What is the legal definition of Premium? In the legal context, Premium means The amount paid for insurance coverage.        

What is the legal definition of Grantee? In the legal context, Grantee means The recipient of property from a grantor. For example, using a Quitclaim Deed, a grantor can transfer property ownership to a grantee.        

What is the legal definition of Inchoate interest? In the legal context, Inchoate interest means Ownership of an unfinished and/or undetermined claim or agreement.        

What is the legal definition of Personal injury? In the legal context, Personal injury means (a) Damage (injury) to the body. (b) A personal wrong or violation of a personal right. Such personal injury is frequently the basis for lawsuit against the wrongdoer. Personal injury is not limited to physical body harm.       (more…)

What is the legal definition of Office? In the legal context, Office means (a) A place where business is transacted; a place where someone practices a profession. (b) A position held by an officer. (The presidential office is held by the President.)        

What is the legal definition of Consignment? In the legal context, Consignment means Delivery of goods from the owner to another party (“consignee”) to be sold by the consignee for the benefit of the owner.        

What is the legal definition of Witness? In the legal context, Witness means (a) An individual who testifies under oath at a trial, a hearing, or before a legislative body. (b) To see or hear something take place. (c) To be present, and often to sign, a legal document, such as a will or deed. (more…)

What is the legal definition of Revenue? In the legal context, Revenue means Sales; gross receipts of a business before deducting expenses.