(A) This term is frequently used as synonymous with the technical phrase cestui que trust. (B) The refers to a person or entity that is legally entitled to receive benefits pursuant to some legal device, for example, an insurance policy, a trust or a will. Law Dictionary - Alternative Legal Definition One for whose benefit a trust is created; a cestui que trust. 1 Story, Eq. … [Read more...] about BENEFICIARY
B
BEARER PAPER
A negotiable instrument which is payable to any person in possession of the paper (the bearer) and does not contain a specified payee. … [Read more...] about BEARER PAPER
BEGUM
In India. A lady, princess, woman of high rank. … [Read more...] about BEGUM
BELOW THE LINE
An amount that has no net effect on net loss or gain. See also below the line deductions which deal with taxpayer AGI. … [Read more...] about BELOW THE LINE
BENEFICIARY HEIR
A term used in the civil law. Beneficiary heirs are those who have accepted the succession under the benefit of an inventory regularly made. Civ. Code of Lo. art. 879. If the heir apprehend that the succession-will be burdened with debts beyond its value, he accepts with benefit of inventory, and in that case he is responsible only for the value of the succession. See … [Read more...] about BENEFICIARY HEIR