An act performed for the purpose of carrying out a business as opposed to a personal or non-business reason. The cost for activities that do not have a business purpose should not be legitimately paid by the business or reduced from its gross revenues for tax purposes. … [Read more...]

An ordinary purchaser. One who makes a purchase in good faith without the knowledge of other external factors, such as third party interests. … [Read more...]

The exchequer of collegiate or conventual bodies; or the place of receiving, paying, and accounting by the bursars. Also stipendiary scholars, who live upon the burse, fund, or joint stock of the college. … [Read more...]

This is an exception to the hearsay rule (which doesn't admit testimony based upon someone's direct knowledge but a statement of what a third party stated) and it allows a business document to be admitted into evidence assuming there is a proper foundation (such as the fact that these records were created in the routine, ordinary course of business without question of another … [Read more...]

The purchase of the rights of a person to a piece of land when the seller is disseised. 2. When a deed is made by one who, though having a legal right to land, is at the time of the conveyance disseised, as a general rule of the common law, the sale is void; the law will not permit any person to sell a quarrel, or, as it is commonly termed, a pretended title. Such a conveyance … [Read more...]