Credit File at Legal Glossary
What is it? See credit report.Law Definition Added By: Claire
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Law Terms head of household is A person who supports and maintains, in one household, one or more people who are closely related to him by blood, marriage or adoption. Under federal income tax law, you are eligible for favorable tax treatment as the head of household only if you are unmarried and you manage a household which is the principal residence (for more than half of the year) of dependent children or other dependent relatives. Under bankruptcy homestead and exemption laws, the terms householder and head of household mean the same thing. Examples include a single woman supporting her disabled sister and her own children or a bachelor supporting his parents. Many states consider a single person supporting only himself to be a head of household as well.Law Terms interference is In patent law, a procedure to resolve a conflict that occurs when two or more patent applications have been filed on the same invention. When this happens, the U.S. Patent and Trademark Office (PTO) examines a number of factors in order to determine who gets the patent, including who first conceived of the invention and worked on it diligently, who first built and tested the invention and who was first to file a patent application.
Law Terms median family income is An annual income figure for which there are as many families with incomes below that level as there are above that level. The Census Bureau publishes median family income figures for each state and for different family sizes. A debtor whose current monthly income is higher than the median family income in his or her state must pass the means test in order to file for Chapter 7 bankruptcy, and must commit all disposable income to a five-year repayment plan if filing for Chapter 13 bankruptcy.
Law Terms nondischargeable debts is Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.
Law Terms annual meeting is A term commonly used to refer to annual meetings of shareholders or directors of a corporation. Shareholders normally meet to elect directors or to consider major structural changes to the corporation, such as amending the articles of incorporation or merging or dissolving the corporation. Directors meet to consider or ratify important business decisions, such as borrowing money, buying real property or hiring key employees.