STIRPES

(A) A term used in wills that refers to descendants of a common ancestor or branch of a family. See its application in will practice under per stirpes as opposed to per capita. (B) descents. The root, stem, or stock of a tree. Figuratively, it signifies, in law, that person from whom a family is descended, and also the kindred or family. 2. It is chiefly used in estimating the several interests of the different kindred, in the distribution of an intestate’s estate. The capital of a merchant tradesman, or other person including his merchandise, money and credits. In a narrower sense it signifies only the goods and wares he has for sale and traffic. The capital of corporations is also called stock; this is usually divided into shares of a definite value, as one hundred dollars, fifty dollars per share. 2. The stock held by individuals in corporations is generally considered as personal property.