This term applies to any income that you don’t pay tax on.

Property not subject to some action or ruling, law, tax, or obligation . Typically means that it is free from forfeiture or seizure. Items needed to do work, including an […]

In the United States , a security that does not have to adhere to REGISTRATION requirements set forth by the SECURITIES AND EXCHANGE COMMISSION . Securities that are commonly exempted […]

Value-Added Tax stated to not apply to specified property, goods, or services. ValueAdded Tax is a government revenue source. However, application of this tax on a good or service usually […]

Freedom from a general duty or service; immunity from a generalburden, tax, or charge. Green v. State, 59 Md. 128, 43 Am. Rep. 542; Koenig v. RailroadCo., 3 Neb. 3S0; […]

Statement lifting obligation or accountability , fully or partially, under specific conditions and eligibility. Varied examples abound. Stated full or partial protection from suit when particular failures occur in executing […]

a term where a person will not be served a summons or a subpoenas while he is performing a public duty.

A growing obligation of taxable value that increases the amount of tax due as the total earnings of the taxpayer increases. A formula in the U.S. tax code. Sets thresholds […]

Persons who are not bound by law, but excused from the performance of duties imposed upon others.

In old English law . A gift; a new year’s gift. Cowell.

upon a transcript of a judgment from a foreign country, or fromanother part of France, and authorizes the execution of the judgment within thejurisdiction where it is so indorsed. In […]

To make use of. Thus, to exercise a right or power is to do somethingwhich it enables the holder to do. U. S. v. Souders, 27 Fed. Cas. 1267; Cleaver […]

This term applies to the discretion or the privilege that a judge has when he decides a case.

Price of an option allowing call or put. The buyer must pay this price to the option writer in a call option . The writer of the option must pay […]

the term for having the right to the first choice to purchase something.

A soldier; a vassal. Spelman.

Lat. The temporary owner or charterer of a ship. Mackeld. Rom.Law,

In the civil law . An action which lay against the employer of avessel ( exercitor navis ) for the contracts made by the master. Inst. 4, 7, 2; 3 […]

The trust given to a ship-master.

In old English law . A heriot paid only in arms, horses, or military accouterments.

In old European law. An army; an armed force . The term was absolutelyindefinite as to number. It was applied, on various occasions, to a gathering offorty-two armed men, of […]

The name given to a record preserved among the munimentsand charters belonging to the dean and chapter of Exeter Cathedral, which contains adescription of the western parts of the kingdom, […]

To abdicate or resign ; to resign or surrender an estate, office, ordignity, by the symbolical delivery of a staff or rod to the alienee.

To break the peace; to commit open violence. Jacob.

In the civil law . Disinheriting ; disherison. The formal method ofexcluding an Indefeasible (or forced) heirfrom the entire inheritance , by the testator’s express declaration in the will that […]