Deed Of Trust at Legal Glossary

What is it? See trust deed.

Law Definition Added By: Marissa

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Law Terms shareholder is An owner of a corporation whose ownership interest is represented by shares of stock in the corporation. A shareholder -- also called a stockholder -- has rights conferred by state law, by the bylaws of the corporation and, if one has been adopted, by a shareholder s agreement (often called a buy-sell agreement). These include the right to be notified of annual shareholders meetings, to elect directors and to receive an appropriate share of any dividends. In large corporations, shareholders are usually investors whose shares are held in the name of their broker. On the other hand, in incorporated small businesses, owners often wear many hats -- shareholder, director, officer and employee -- with the result that distinctions between these legal categories become fuzzy.

Law Terms liquid assets is Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.

Law Terms grace period is A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

Law Terms comity of nations is Courtesy between nations that obligates their mutual recognition of each others laws.

Law Terms order is A decision issued by a court. It can be a simple command--for example, ordering a recalcitrant witness to answer a proper question--or it can be a complicated and reasoned decision made after a hearing, directing that a party either do or refrain from some act. For example, following a hearing, the court may order that evidence gathered by the police not be introduced at trial; or a judge may issue a temporary restraining order. This term usually does not describe the final decision in a case, which most often is called a judgment.