The doctrine that was set forth as a result of Erie v. Tompkins (1938) that federal courts hearing issues other than those surrounding the U.S. Constitution should apply the state law for state related substantive claims. … [Read more...]

Of the same value. Sometimes a condition must be literally accomplished in forma specifica; but some may be fulfilled by an equivalent, per oequi polens, when such appears to be the intention of the parties; as, I promise to pay you one hundred dollars, and then die, my executor may fulfill my engagement; for it is equivalent to you whether the money be paid to you by me or by … [Read more...]

We erect. One of the words by which a corporation may be created in England by the king's charter. 1 Bl. Comm. 473. … [Read more...]

What has a double sense. 2. In the construction of contracts, it is a general rule that when an expression may be taken in two senses, that shall be preferred which gives it effect. Having a double or several meanings or senses. See AMBIGUITY. … [Read more...]

ERISA or the Employee Retirement Income Security Act of 1974 is a federal law that protects the pension rights of employees. It creates a threshold of standards for pension plans and essentially provides disclosure and other requirements regarding the setup and maintenance of employee pension plans. … [Read more...]