wex definitions

1031 exchange

1031 exchange (also called a tax-deferred exchange) refers to the ability of investors and organizations to replace one investment for a similar one instead of keeping the proceeds. For certain transactions, the exchange allows the investor...

30-day notice

Definition

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

A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code. The purpose of a 341 meeting is to examine the debtor’s...

341 notice

A 341 notice is the notice sent by the bankruptcy clerk to the debtor, the creditors, and all other interested parties, notifying them of the date, time, and place in which the 341 meeting (creditors meeting) will be held. Among other things...

342 notice

A 342 notice is the notice sent before the commencement of a bankruptcy proceeding by the bankruptcy clerk of the bankruptcy court to the debtor, which contains:

A brief description of chapters 7, 11, 12, and 13 of the Bankruptcy Code...

401(k)

Definition

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...

707(b) action

Definition

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

Definition

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

Definition

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

A priori assumption

An a priori assumption is an assumption that is presumed to be true without any assessment of the facts or without further proof. A priori is a Latin term that refers to a theoretical deduction made on a subject without a precise and detailed...

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