New Hampshire Revised Statutes > Chapter 304-C – Limited Liability Companies

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Terms Used In New Hampshire Revised Statutes > Chapter 304-C - Limited Liability Companies

• Affidavit : A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment : A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Answer : The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal : A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal : A determination of property value.
• Assets : (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-in-fact : A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Bankruptcy : Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Common law : The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint : A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract : A legal written agreement that becomes binding when signed.
• Corporation : A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages : Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed : The legal instrument used to transfer title in real property from one person to another.
• Defendant : In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent : A person dependent for support upon another.
• Discovery : Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Entitlement : A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable : Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
• Evidence : Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor : A male person named in a will to carry out the decedent
• Fiduciary : A trustee, executor, or administrator.
• Fiscal year : The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following : when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
• Fraud : Intentional deception resulting in injury to another.
• Gift : A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guardian : A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Indemnification : In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
• Intangible property : Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Jurisdiction : (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities : The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien : A claim against real or personal property in satisfaction of a debt.
• Litigation : A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Obligation : An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership : A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person : may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
• Personal property : All property that is not real property.
• petition : when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
• Plaintiff : The person who files the complaint in a civil lawsuit.
• Power of attorney : A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
• Prosecute : To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Quorum : The number of legislators that must be present to do business.
• real estate : shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
• Right of offset : Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off. Source: OCC
• Service of process : The service of writs or summonses to the appropriate party.
• Settlement : Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• state : when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
• Statute : A law passed by a legislature.
• sworn : when applied to public officers required by the constitution to take oaths therein prescribed, shall refer to those oaths; when applied to other officers it shall mean sworn to the faithful discharge of the duties of their offices before a justice of the peace, or other person authorized to administer official oaths in such cases. See New Hampshire Revised Statutes 21:25
• Tort : A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trustee : A person or institution holding and administering property in trust.
• United States : shall include said district and territories. See New Hampshire Revised Statutes 21:4
• Venue : The geographical location in which a case is tried.