See Bankruptcy Trustee.
[Last updated in October of 2021 by the Wex Definitions Team]
wex definitions
trustee powers
Trustee powers are generated from a trust document, and these are the powers the trustee may exercise without violation of the law or the terms of the trust. For example, the power to buy and sell assets. Most trustee powers are permissive,...
trustor
See: settlor.
[Last updated in August of 2021 by the Wex Definitions Team]
turn state's evidence
Turn state’s evidence (also known as “turn King’s evidence”) or to "flip” means the defendant chose to reveal valuable evidence to the prosecutor, in exchange for a reduction of the charge or the dismissal of some charges. When the defendant...
turncoat witness
Turncoat witness is a witness whom the litigating party calls to provide favorable testimony but during the trial they become a hostile witness.
For example, in People v. Brown, a California Court of Appeals case, a...
Twinkie defense
The term "Twinkie defense" is an umbrella term that, in the most general sense, refers to an unconventional defensive argument. The term originated from the 1979 trial of Dan White, a San Francisco politician, who was charged with first-...
tying arrangement
A tying arrangement is an agreement in which the seller conditions the sale of one product (the “tying” product) on the buyer’s agreement to purchase a separate product (the “tied” product) from the seller. It is also considered a tying...
typosquatting
Typosquatting is the process of acquiring similarly spelled or misspelled domain names for the purpose of capturing traffic intended for another website. Typosquatters profit from this conduct in multiple ways, such as providing pop-ups for...
U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act of 2007
The U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act of 2007 was an enormous, emergency omnibus bill costing approximately 120 billion that provided key appropriations for the wars in Iraq and...
UBO
UBO, or unincorporated business organization, is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property...