1031 exchange


An exchange, i.e. sale and reinvestment of the proceeds therefrom, of business or investment property for like-kind business or investment property, which allows a seller to defer payment of capital gains taxes.

Illustrative caselaw


30-day notice


A common notice period required by many state and local landlord-tenant laws and ordinances.

A notice from a landlord to a tenant to vacate the premises within 30 days; a notice from a landlord to a tenant informing the tenant of a...

341 meeting


In a bankruptcy case, a meeting of creditors or equity security holders convened by and presided over by the United States trustee. A meeting of creditors is mandatory whereas a meeting of equity security holders is discretionary. During a...

341 notice


In a bankruptcy case, a notice sent to creditors when a bankruptcy petition is filed, naming the trustee (in chapter 7, 12, and 13 cases), setting the date and time of the 341 meeting — the first meeting of creditors, and setting deadlines,...

342 notice


In a bankruptcy case, a notice the court clerk must give the debtor that describes the "general purpose, benefits, and costs" of proceeding under particular chapters of the United States Bankruptcy Code and specifies the consequences...



A type of savings account made possible by federal law. By creating a financial plan under 26 U.S.C. 401(k), employers can help their workers save for retirement while reducing taxable income. Workers can choose to deposit part of their...

401(k) plan


A deferred compensation retirement plan in which an employer withholds a portion of an employee's pretax wages and invests them in a qualified plan; an employer may contribute to an employee's 401(k) plan, e.g. by matching an employee's...

707(b) action


In a Chapter 7 bankruptcy case, a motion by the court, the United States trustee, the trustee, the administrator, or any party in interest to dismiss a debtor's case on the ground that granting that debtor relief would constitute an abuse of...

A fortiori


A Latin term meaning literally 'from [the] stronger'. Translated into English and used in the particular context of legal writing, the term often means 'from [the] stronger [argument]'. If a particular fact is true, then one can infer that a...

A priori


A Latin term meaning "from what comes before." In legal arguments, a priori generally means that a particular idea is taken as a given.