An outstanding claim or incumbrance which, if valid, would affect or impair the title of the owner of a particular estate, and which apparently and on its face has that effect but which can be shown by extrinsic proof to be invalid or inapplicable to the estate in question. A conveyance, mortgage, judgment, tax-levy, etc., may all, in proper cases, constitute a cloud on title. … [Read more...] about CLOUD ON TITLE
C
CLOSE
(verb) - To finish, terminate, complete, wind up; as, to "close" an account, a bargain, an estate, or public books, such as tax books. Patton v. Ash, 7 Serg. & It (Pa.) 116; Coleman v. Garrigues, 18 Barb. (N. Y.) 67; Clark v. New York, 13 N. Y. St. Rep. 292; Bilafsky v. Abraham, 183 Mass. 401, 67 N. E. 818 To shut up, so as to prevent entrance or access by any person; as in … [Read more...] about CLOSE
CLOUGH
A valley. Also an allowance for the turn of the scale, on buying goods wholesale by weight … [Read more...] about CLOUGH
CLOSE CORPORATION
This refers to a corporation that usually privately owned and operated by a few persons, usually family members. This is as opposed to corporations owned by the public. State laws provide for less formalities for close corporations, such as shareholders being able to make decisions without a meeting of the board of directors and electing/appointing board members to empty seats … [Read more...] about CLOSE CORPORATION
CLUB
A voluntary, unincorporated association of persons for purposes of a social, literary, or political nature, or the like. A club is not a partnership. 2 Mees. & W. 172. The word "club" has no very definite meaning. Clubs are formed for all sorts of purposes, and there is no uniformity in their constitutions and rules. It is well known that clubs exist which limit the number … [Read more...] about CLUB