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Assumed; promised. 2. This is a technical word which ought to be inserted in every declaration of assumpsit, charging that the defendant undertook to perform the promise which is the foundation of the suit; and this though the promise be founded on a legal liability, or would be implied in evidence. … [Read more...] about UNDERTOOK

Slang term for a debtor who is owes on a loan far in excess of the value of the security for the loan, e.g. the current value of the home is far less than the outstanding mortgage. … [Read more...] about UNDER WATER

He who transacted the business of the lord high treasurer. … [Read more...] about UNDER-TREASURER OF ENGLAND

When a company does not have sufficient cash to carry on its business, usually used to describe starting businesses where the owners or incorporators do not place enough cash in deposit to run the business. … [Read more...] about UNDERCAPITALIZATION

law of Louisiana. In every tutorship, there shall be an undertutor, whom it shall be the duty of the judge to appoint at the time letters of tutorship are certified for the tutor. 2. It is the duty of the under-tutor to act for the minor, whenever the interest of the minor is in opposition to the interest of the tutor. … [Read more...] about UNDER-TUTOR