When an entity holds voting control by owning more than 5% of the publicly offered shares of a company. This must be reported on a Schedule 13D under Section 12 […]

In New York law and practice. A power which has for its object the donee of the power, and which is to be executed solely for his benefit; as distinguished […]

The right to use and enjoy property according to one’s own liking or so as to derive a profit or benefit from it, including all that makes it desirable or […]

One for whose benefit a trust is created; a cestui que trust . 1 Story, Eq. Jur.

A rule that lets the insured make anyone they want the beneficiary . This can be changed at any time.

In the law of Louisiana. One who has accepted the succession under the benefit of an inventory regularly made. Civ. Code La. 1900. art. SS3. Also one who may accept […]

The party in a letter of credit that demands payment.

The party a trust is created for. They will eventually get the benefits of the trust.

When a lender sends a document to the borrower that shows principal balance and other important loan information . AKA offset statement.

In Roman law. The power of an heir to abstain from accepting the inheritance . Sandars, Just. Inst. (5th Ed.) 214.

In Roman law. The privilege by which a surety could, before paying the creditor, compel him to make over to him the actions which belonged to the stipulator, so as […]

Benefit of clergy . See BENEFIT.

In Scotch law. The privilege of competency. A privilege which the grantor of a gratuitous obligation was entitled to, by which he might retain sufficient for his subsistence, if, before […]

In civil and Scotch law. The privilege of one of several co-sureties (cautioners) to insist upon paying only his pro rata share of the debt. Bell.

In English law . An ancient writ, which was addressed by the king to the lord chancellor , to bestow the benefice that should first fall in the royal gift, […]

In early feudal law. A benefice; a permanent stipendiary estate; the same with what was afterwards called a “fief,” “feud,” or “fee.” 3 Steph. Comm. 77, note i; Spelman. In […]

Hob. 148. A remuneration [is] not given, unless on account of a duty performed.

In civil and Scotch law. The privilege of order. The privilege of a surety to require that the creditor should first proceed against the principal and exhaust his remedy against […]

In the civil law . The right to have the goods of an heir separated from those of the testator in favor of creditors.

Advantage; profit; privilege. Fitch v. Bates, 11 Barb. (N. Y.) 473; Synod of Dakota v. State, 2 S. D. 366, 50 N. W. 632, 14 L. R. A. 418; Winthrop […]

When a premium is paid once a year for a pension plan . It buys a single benefit. An annuity is purchased.

The amount an employer lets employees use to buy benefits they choose.

The expected outcomes of an available or proposed alternate to a plan.

The original name for now more commonly called a ” building society ,” (g. v.)

The way benefits are calculated for insurance in a pension plan .