wex definitions

Piercing the veil, also known as "piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation’s actions or

• llcs-corporations-partnerships

Pilferage is the act of stealing or an instance of stealing. The term also refers to the item or items stolen. See larceny; theft.

[Last reviewed in August of 2020 by the Wex Definitions Team]

Pillaging is a war crime under international humanitarian law. To prove a crime of pillaging at the International Criminal Court, it must be shown that:

“Pimp” is a non-legal term used to refer to a person who procures a prostitute for a customer and receives earnings from the prostitute’s services. Pimps are also commonly referred to as “panderers” and “procurers."

Pimps commit the crimes of pandering and pimping. For example:

1. Slang term for the discharge notice that an employee receives when being terminated by his or her employer, either as the result of a firing or layoff. It is often used in the idiomatic expression, “to get a pink slip.”  The term refers to the once-common practice in the United States of placing a pink slip in with an employee’s final payment check to notify him or her of their termination.

Pinkerton liability allows an actor to be held liable for substantive crimes committed by his coconspirators in certain circumstances. A defendant can be held vicariously liable for a substantive offense committed by another member of a conspiracy if: (1) the defendant was a party to the conspiracy; (2) the offense was “within the scope of the unlawful project“; (3) the offense was committed in furtherance of the conspiracy; and (4) the defendant could have reasonable foreseen the offense as a “necessary or natural consequence of the unlawful agreement.”

• criminal law
• white-collar crime

In legal usage, piracy can mean either:

Piracy (within the context of maritime law) is when non-state actors commit war-like acts against ships, such as hijacking a ship, taking hostages, etc. In the United States, piracy is governed by admiralty law. Piracy is prohibited by both United States and international law.

Abbreviation for the major expenses that make up a mortgage payment: principal (the amount borrowed), interest, (property) taxes, and (homeowners' and private mortgage) insurance. The total amount of PITI is normally quoted on a monthly basis and is a useful gauge to determine the affordability of a mortgage.

The Parental Kidnapping Prevention Act of 1980 (PKPA) establishes national standards to determine jurisdiction in interstate custody disputes. PKPA does not impose a duty on the states to exercise jurisdiction over any child custody issues, but when a state wishes to exercise jurisdiction over a dete