contracts

Dependent

Dependent has multiple legal meanings. Generally, it refers to an individual who relies on support from another individual and usually cannot exist or sustain themselves independently without the aid or support of someone else....

Destination Contract

Under Article 2 of the Uniform Commercial Code, a destination contract is one way in which buyer and seller could contract to allocate risk of loss between buyer and seller when goods or lost or damaged before the buyer obtains them from the seller and...

Diminution in Value

Definition from Nolo’s Plain-English Law DictionaryA way of assessing damages after a breach of a contract, which measures the difference between the value of the property as it was contractually promised and the value of the property as it currently...

Disability

Definition from Nolo’s Plain-English Law Dictionary1) For purposes of antidiscrimination law, a physical or mental impairment that substantially limits one or more major life activities.2) A legal impediment to taking a certain action, such as being a...

Disclaim

Definition from Nolo’s Plain-English Law Dictionary1) To refuse or give away a claim or a right to something. For example, if your aunt leaves you a white elephant in her will and you don't want it, you can refuse the gift by disclaiming your ownership...

Discount

Definition from Nolo’s Plain-English Law DictionaryPayment of less than the full or regular amount of the price for goods or services or less than the amount due on a promissory note.

Definition provided by Nolo’s Plain-English Law Dictionary.

Disgorgement

A remedy requiring a party who profits from illegal or wrongful acts to give up any profits he or she made as a result of his or her illegal or wrongful conduct. The purpose of this remedy is to prevent unjust enrichment.

Distribution of Profits

Definition

The dispensing of profits amongst partners of a partnership, members of a Limited Liability Company, or employees in a company, as per terms outlined in a profit-sharing agreement.

See alsoPartnershipLimited Liability Company

Divestitive Fact

A fact that causes the loss of previously held legal rights.

Divestiture

Definition from Nolo’s Plain-English Law DictionaryThe disposition or sale of an asset by a company or government entity. It may be voluntary or ordered by a court.

Definition provided by Nolo’s Plain-English Law Dictionary.

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