A gift not subject to federal tax and is below the limits where a gift is subject to federal gift tax. … [Read more...]

In ecclesiastical law. First fruits paid out of spiritual benefices to the pope, so called because the value of one year's profit was taken as their rate. … [Read more...]

The shareholders or directors of a corporation are to have at least one meeting every year, where the shareholders may elect directors, consider major changes to be made to the corporation which might include matters of the articles of incorporation, mergers and acquisitions. Directors will usually meet to address major business issues. … [Read more...]

To add to; to unite; to attach one thing permanently to another. The word expresses the idea of joining a smaller or subordinate thing with another, larger, or of higher importance. In the la'w relating to fixtures, the expression "annexed to the freehold" means fastened to or connected with it; mere juxtaposition, or the laying of an object, however heavy, on the freehold, … [Read more...]

Scotch law. Annual rent. A yearly profit due to a creditor by way of interest for a given sum of money. Right of annual rent, the original right of burdening land with payment yearly for the payment of money. … [Read more...]