Alternative Reproductive Technology (ART), also known as assisted reproductive technology, can be defined as an alternative to traditional reproduction, used by persons who are infertile. It is also a term that encompasses in vitro...
commercial activities
Article III
Article III refers to Article III of the Constitution, the section of the Constitution that authorizes a federal court system. This provides that federal courts have judicial power over all cases and controversies arising under the...
artificial intelligence (AI)
According to 15 U.S. Code § 9401 artificial intelligence is defined as “a machine-based system that can, for a given set of human-defined objectives, make predictions, recommendations or decisions influencing real or virtual environments.”...
artificial person
An artificial person is also known as a juridical person; it has a legal name and has certain rights, protections, privileges, responsibilities, and liabilities in law, similar to those of a natural person. In other words, an artificial...
artisan's lien
An artisan’s lien is a type of lien that gives workers a security interest in personal property until they have been paid for their work on that property. It works exactly the same as a mechanic's lien.
See e.g., In re Enron...
as is
“As is” refers to a term used in sales contracts where the buyer agrees to buy a product in its current condition, without legal recourse should the buyer discover a defect in the product after purchase. The buyer should be able to view and...
assess
In common parlance, to assess means to evaluate.
In legal contexts, the word assess is usually used in the context of tax law and means to ascertain a valuation of a piece of property for purposes of tax calculation (see...
assessed value
Assessed value is the value of a property, as determined (assessed) by a tax assessor or appraiser, for tax calculation purposes.
[Last updated in June of 2021 by the Wex Definitions Team]
asset purchase agreement
An asset purchase agreement is a contract under which a seller transfers to a buyer a portion or all of the assets of an entity.
Although the content of an asset purchase agreement may vary in complexity depending on the...
assigned risk
Assigned risk is a method of providing certain types of insurance to those who otherwise would be denied coverage because they would be considered too high-risk. Individuals who have failed to gain coverage through the private market–also...