Inherent authority refers to an agent's power to act on behalf of a principal, even though that power has not been specifically or implicitly granted by the principal. This type of authority arises only in situations where it is necessary for...
money and financial problems
inherit
The term “inherit” may refer to one of two common uses.
The first use is in relation to inheritance. In this context, the term inherit refers to the act of acquiring another’s property upon their death. At common law, the...
inheritance
Inheritance refers to property acquired through the laws of descent and distribution. Though sometimes used in reference to property acquired through a will, the legal meaning of inheritance includes only property that descends to an heir...
institutional investor
An institutional investor is an entity that manages their clients’ investments. Investment banks, insurance companies, and mutual funds are examples of institutional investors.
Institutional investors may be able to...
insurance
Insurance is an arrangement or contract in which one party agrees to indemnify another against a predefined category of risks in exchange for a premium. Depending on the contract, the insurer may promise to financially protect the insured...
insurer
The insurer is the party in an insurance contract that promises to pay compensation. The insurer is an entity, usually an insurance company, that underwrites the insured risk.
By contrast, the insured is a person or...
inter vivos transfer
An inter vivos transfer is a transfer of property made during a person’s lifetime. It can be contrasted with a testamentary transfer, which is a transfer made in a will after death. A revocable trust is considered an inter vivos transfer even...
inter vivos trust
An inter vivos trust is a trust that is created during the lifetime of the settlor. An inter vivos trust can be distinguished from a testamentary trust, which is a trust created in a will that begins upon the death of the testator.
...interest
Interest is a payment associated with borrowing or lending money. Generally, one party will lend another party a sum of money, called a loan. The receiving party is expected to repay that initial sum - called the principal amount - as well as...
International Bank of Reconstruction and Development
The International Bank of Reconstruction and Development (IBRD) was established in 1944 as the original institution of the World Bank group. Its aim is to reduce poverty in middle-income and creditworthy poorer countries by promoting...