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(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

Income that is excluded from being taxable. … [Read more...] about EXEMPT INCOME