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A term relating to a civil law legal relationship where several debtors are joint and severally liable to pay an entire amount or, in the alternative, a debt is due to a collective of creditors with each creditor being able to collect the entire debt. … [Read more...] about SOLIDARY OBLIGATION

civil law. In solido, is a term used to designate those contracts in which the obligors are bound, jointly and severally, or in which several obligees are each entitled to demand the whole of what is due. 2. 1. There is an obligation in solido on the part of debtors, when they are all obliged to the same thing, so that each may be compelled to pay the whole, and when the … [Read more...] about SOLIDO

Lat. In the civil law. A whole; an entire or undivided thing. … [Read more...] about SOLIDUM

Lands and tenements which were not held by knight-service, nor by grand serjeanty, nor by petit but by simple services; being, as it were, lands enfranchised by the king or his predecessors from their ancient demesne. Their tenants were sokemans. Wharton. … [Read more...] about SOKEMANRIES

An informal business recognized by the law and is owned and managed by one person. For tax purposes, a husband and wife qualify as a sole proprietorship and for federal tax reporting, the business files taxes as part of the taxpayer's personal tax return. There are no legal formalities to set up a sole proprietorship although there still are requirements for tax registration … [Read more...] about SOLE PROPRIETORSHIP