Estate at Legal Glossary
What is it? Generally, all the property you own when you die.Law Definition Added By: Patrick
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Law Terms decedent is A person who has died, also called deceased.Law Terms desertion is The voluntary abandonment of one spouse by the other, without the abandoned spouses consent. Commonly, desertion occurs when a spouse leaves the marital home for a specified length of time. Desertion is a grounds for divorce in states with fault divorce.
Law Terms partnership is When used without a qualifier such as limited or limited liability, usually refers to a legal structure called a general partnership. This is a business owned by two or more people (called partners or general partners) who are personally liable for all business debts. To form a partnership, each partner normally contributes money, valuable property or labor in exchange for a partnership share, which reflects the amount contributed. Partnerships are easy to form since no registration is required with any governmental agency to create a partnership (although tax registration and other requirements to conduct business may still apply). Although not required, it is an excellent idea to prepare a written partnership agreement between the partners to define items such as ownership percentages, how profits and losses will be divided and what happens if a partner dies or becomes disabled. Partnerships themselves do not pay federal or state income taxes; rather, profits are passed through to partners who report and pay income taxes on their personal returns. See also limited partnership; limited liability partnership.
Law Terms jus cogens is Principles of international law so fundamental that no nation may ignore them or attempt to contract out of them through treaties. For example, genocide and participating in a slave trade are thought to be jus cogens.
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