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The executor is the person named in a will that manages and distributes the property of the person who has died. The executor manages the estate property including collecting money owed to the estate, paying debts and taxes and will then distribute the proceeds of the estate as specified within the will. The executor is involved in any probate court proceedings that may occur … [Read more...] about EXECUTOR

(verb) - To relieve, excuse, or set free from a duty or service imposed upon the general class to which the individual exempted belongs; as to exempt from militia service. See 1 St at Large, 272. To relieve certain classes of property from liability to sale on execution.(noun) - One who is free from liabillty to military service; as distinguished from a detail, who is one … [Read more...] about EXEMPT

That which is yet to be executed or performed; that which remains to be carried into operation or effect; incomplete ; depending upon a future performance or event. The opposite of executed. Executory consideration. A consideration which is to be performed after the contract for which it is a consideration is made. Executory fines. These are the fines sur cognisance de droit … [Read more...] about EXECUTORY

An employee who is not entitled to overtime pay for overtime worked as per the Fair Labor Standards Act. … [Read more...] about EXEMPT EMPLOYEE

A contract that requires something occur in the future in order for it to be completed. … [Read more...] about EXECUTORY CONTRACT