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Glossary | |
| Terms that are on use on this site. | |
| You can always search for entries. | |
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| D | |
| There are 126 entries in the glossary. | |
| Pages: 1 2 3 4 » | |
| Term | Definition |
| D & O insurance (directors and officers | Coverage that protects company officials from personal liability for good faith actions taken in the course of their employment. |
| d/b/a | Abbreviation for doing business as. |
| damages | The sum of money that an injured party claims the other party owes for all losses, expenses, and harm to property or persons. |
| debit card | A type of card in which the user deposits a certain amount of money with the bank and then charges against it, using that money to pay the items charged. |
| debt | An amount of money owed. |
| debt collector | Person whose job is to collect money owed on debts. |
| debt ratio | The amount of money a person owes in relation to his or her net worth. |
| debt service | The amount of money you have to pay on a debt in order to keep it from being in default. If you make the payments that are called for under a note or loan, then you are servicing the debt. |
| debt-to-income ratio | The percentage of a person’s income that is already allocated to debts such as, mortgages, loans, utilities, and credit cards. |
| debtor | A person or institution who owes money. |
| decedent | A person who has died. |
| decedent trust | A trust created at the decedent’s death to take advantage of decedent’s federal estate tax exemption. |
| decennial digests, or decennials | Sets of digests, grouped in ten year periods, which cover all of the states and all federal jurisdictions. |
| declarant | A person who signs a living will, usually when the living will document is titled “Declaration.” |
| declaration | (1) Another name for a health care directive. (2) A statement that warns you about willful false statements. (3) That portion of a policy that identifies the policy to the insured. The declarations, or declarations page, show who the insurer is, the policy number and policy period, who the named insured is, its mailing address, the address of premises insured, the coverages afforded, the policy limits applicable to each coverage, the deductible(s), and often, the forms contained in the policy. (4) In some jurisdictions, this is a basic document recorded to set out property interests in a Community Association, similar to CC&Rs. |
| decree | An order that has the force of law. This may also be called a judgment. |
| deductible | The amount of money you must pay on an insurance claim before your insurance will begin to make payments on the claim. |
| deductions | An amount subtracted from gross income when calculating adjusted gross income. |
| deed | A legal instrument that transfers an interest in a property. |
| deed in lieu of foreclosure | A deed given by the property owner to a lender instead of the lender going through the foreclosure process. Its purpose is to save the time and expense of foreclosure when the borrower has little or no equity in the property. |
| deed of trust | See mortgage. |
| defamation | Harming a person's reputation by making a false statement to another person, either in writing or orally. |
| default | (1) Failure to fulfill or live up to terms of an agreement. (2) The failure of a defendant to file an answer or appear in court within the time limit after having been served with a summons and complaint. The failure to appear can then lead to a default judgment being entered by a court. |
| default letter | Letter sent to the borrower indicating that the mortgage has not been paid or that the borrower has violated one of the requirements of the mortgage (such as keeping the property insured) and asks what the lender is going to do about this issue. |
| defendant | The person against whom a case is filed. This person may also be called a respondent. |
| defendant index | A list of cases filed by the name of the defendant. This lets the researcher see all the cases filed in the past against a particular person. |
| deferment | Occurs when a loan is put on hold without payments becoming due. Usually only applies to student loans. |
| deferred admission | Formerly known as deferred inspection. Where a nonimmigrant or possibly lawful permanent residence had trouble reentering the U.S. and must appear at the local USCIS office to clarify their status. |
| deferred compensation | Compensation set aside for an employee, but not currently taxable to the employee, because the employee’s receipt and enjoyment of the compensation is deferred. |
| deferred interest | A mortgage that is written so the interest payments are delayed for a period of time. |
| deferred maintenance | Repairs that have been put off for awhile and are starting to pile up. |
| deficiency | The money a borrower might still owe their lender after a foreclosure. |
| deficiency judgment | The amount still owed on a debt after a foreclosure or court ordered sale. |
| defined benefit plan | A type of retirement plan in which the benefit amount is fixed by a predetermined formula including such factors as years of service and preretirement compensation. Contributions to the plan are calculated so that the plan will have sufficient funds to pay the promised benefit. |
| defined contribution plan | A type of retirement plan in which the amount contributed to the plan is fixed by a predetermined formula and the benefit amount depends on the value of each participant’s separate account within the plan. |
| deliberations | That time during a jury trial when the jury leaves the courtroom to weigh and analyze the facts in the case, in order to ultimately reach a verdict. |
| delinquency | An amount that was paid later than agreed or not paid at all. |
| delinquent | Late or overdue. |
| demand letter | Correspondence in which an injured party explains its side of a legal dispute, and requests a sum of money to settle the case. |
| Department of Homeland Security (DHS) | Newly formed department responsible for government functions related to security. The former INS has been split into the U.S. Citizenship and Immigration Services (USCIS), which is responsible for administering immigration services, and the Immigration and Customs Enforcement (ICE), which is responsible for immigration enforcement within the U.S. |
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