Living trust

Living trust means a trust established during the life of an individual (trustor). The term originated from the Latin term "Inter Vivos" (between the living).

Extradition

Extradition is the act of returning a person accused or convicted of a crime (extraditing) from the country he/she is arrested to the country where the crime is committed.

International law

International law is a body of law governing relations between nations. It is based on a set of rules generally accepted as binding in relations between countries. For example, extradition is treated under international law.

Insurance

The word "insurance" can be figuratively used to express a protection against something.
Regular exercise is viewed as an insurance against illnesses.

Incorporate

Incorporate means to include something within something else, as part of a whole, for example, by making one document part of another document by declaring the former to be incorporated in the latter.

IRS

IRS is an acronym for "Federal Agency Responsible" which is responsible administering and enforcing federal tax laws.

IRA

IRA is an acronym for "Individual Retirement Account" which is a form of "individual retirement plan", and is a savings account with large tax advantages.

Holding company

A holding company is a company which is formed for the purpose of purchasing and holding stock of other corporations and often exerts control over the management of such corporations by virtue of its holdings.

Franchise

If a company franchises its business, it means that it sells franchises to other companies, allowing them to sell its goods or services that have instant name recognition. The franchising company also provide training and support.

Franchise

Franchise is the right to vote in an election.
Women were not allowed until the 1940s when they were granted the franchise to vote in elections.

Federal court

Federal courts are courts of limited jurisdiction established under Article III of the U.S. Constitution to hear matters involving either federal question jurisdiction or diversity jurisdiction.


The federal courts are composed of three levels of courts. Trial jurisdiction is usually in the district courts, intermediate appellate jurisdiction is in the courts of appeal, and final appellate jurisdiction is in the Supreme Court.

Family law

Family law is an area of the law concerned with domestic matters such as separation, divorce, dissolution of marriage, alimony, custody and adoption.

Factor

In the context of commercial transactions, a factor is a person who sells goods on behalf of others, taking a commission for services. A factor differs from a broker because factors take possession of the goods.


A factor may be a financier who lends money in return for an assignment of accounts receivable or other security; this is known as factoring.

FDA

FDA is an acronym for Food and Drug Administration. The FDA is a federal agency of the United States Department of Health and Human Services. The FDA is responsible for protecting and promoting public health through the supervision of food safety, tobacco products, medications, vaccines, medical devices, cosmetics, animal foods, veterinary products, etc.

FCC

F.C.C is an acronym for Federal Communications Commission. The FCC is an independent agency of the United States government to regulate communications by radio, television, satellite, wire, and cable.

Expert testimony

Expert testimony is an oral or written testimony offered by an expert witness whose opinion about evidence or about facts may be considered by the judge.


For example, a pathologist may be invited in a case of murder to give evidence as to the cause of death of the deceased.


See, expert witness.

Embezzlement

Embezzlement is the crime of taking property which is belong to another person. For example, a financial adviser might embezzle the funds of investors.