Tax planning is when a taxpayer makes use of the tax law to pay the least amount of taxes possible. Tax planning consists of the analysis of the tax payer’s financial situation in order to pay the lowest tax. Usually, tax planning consists in...
LIFE EVENTS
temporary restraining order (TRO)
Temporary restraining orders (TROs) are a type of short-term injunction issued to prevent a party from taking a certain action until the court is able to issue a more enduring order, such as a preliminary injunction. TROs are a type of...
tender back rule
The tender-back rule, also known as the tender-back doctrine, is a rule that is commonly associated with waiver or release agreements in an employment context. The tender-back rule requires any consideration given to an employee to be given...
tentative trust
Tentative trust (also called a Totten trust) is a bank account where the account’s assets will be transferred to a beneficiary after the death of the depositor. A depositor may choose a tentative trust because the assets can quickly be given...
tenure
Tenure, in the legal sense, refers to the medieval arrangements of land use between lords and tenants where the tenants provided service in exchange for use of the land. Today, tenure can sometimes refer broadly to a person’s right to use...
termination
An ending of employment (such as a layoff) that is not a voluntary resignation.
testate succession
Testate succession refers to how property will be distributed in a will. This is in contrast to intestate succession where laws determine how the property will be allocated to relatives. Individuals have almost free control over how to...
third-party beneficiary
A third-party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract. The privity of the contract is between the contracting parties - the promisor and...
Title VII
Title VII of the Civil Rights Act of 1964 is a federal employment law that prohibits employment discrimination based on race, color, religion, sex (including pregnancy), and national origin. Title VII gives employees a private right to action...
tontine
Tontine is an investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies.
In simpler terms, tontine is an investment scheme in which the so-called...