The estate technically becomes the temporary legal owner of all of the debtor’s property. Adversary proceeding A lawsuit arising in or related to a bankruptcy case that begins by filing a complaint with the court, that is, a “trial” that takes place within the context of a bankruptcy case. California laws banning unlicensed people from openly carrying handguns in public are under greater legal threat after a court decision Thursday. Law court a place where people accused of crimes are tried and legal disagreements between people are judged.
In the case of worker’s compensation payments for personal injuries, they are excluded from income under Section 104. Unlike other payments, the injuries do not even have to be physical. Thus, mental and emotional injuries covered by worker’s compensation can count in the tax-free column too. Read more about understanding the law here. Under the tax code, most payments to compensate you for being injured—including most legal settlements—may be taxable or not, depending on your injuries. If you have non-physical injuries like emotional distress, damage payments are taxed. Only if your injuries are physical are the compensatory payments tax-free.
By Editor in Chief Bryan A. Garner, the world’s leading legal lexicographer, the 11th edition is the most authoritative, comprehensive law dictionary ever published. Witness A person called upon by either side in a lawsuit to give testimony before the court or jury.
Examples of law
Typically, the judge and the parties also discuss the possibility of settlement of the case. Objection to dischargeability A trustee’s or creditor’s objection to the debtor being released from personal liability for certain dischargeable debts. Common reasons include allegations that the debt to be discharged was incurred by false pretenses or that debt arose because of the debtor’s fraud while acting as a fiduciary. Chapter 7 The chapter of the Bankruptcy Code providing for “liquidation,” that is, the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors. In order to be eligible for Chapter 7, the debtor must satisfy a “means test.” The court will evaluate the debtor’s income and expenses to determine if the debtor may proceed under Chapter 7. Chapter 13 The chapter of the Bankruptcy Code providing for the adjustment of debts of an individual with regular income, often referred to as a “wage-earner” plan. Chapter 13 allows a debtor to keep property and use his or her disposable income to pay debts over time, usually three to five years.
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If all the judges completely agree on the result, one judge will write the opinion for all. If all the judges do not agree, the formal decision will be based upon the view of the majority, and one member of the majority will write the opinion.
Sentence The punishment ordered by a court for a defendant convicted of a crime. Sanction A penalty or other type of enforcement used to bring about compliance with the law or with rules and regulations. Reverse The act of a court setting aside the decision of a lower court. A reversal is often accompanied by a remand to the lower court for further proceedings.