legal assets

legal assets
Assets left by a decedent available for administration without the aid of a court of equity. Agee v Saunders, 127 Tenn 680, 157 SW 64. Moneys in the hands of an executor as administrator arising from the sale of personal property, as distinguished from moneys in his hands arising from the sale of real estate. 31 Am J2d Ex & Ad § 193.

Ballentine's law dictionary. . 1998.

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  • Legal — Le gal (l[=e] gal), a. [L. legalis, fr. lex, legis, law; prob. orig., that which lies or is fixed (cf. L. lectus bed), and if so akin to E. lie, law: cf. F. l[ e]gal. Cf. {Lie} to be prostrate, {Loyal}, {Leal}.] 1. Created by, permitted by, in… …   The Collaborative International Dictionary of English

  • Legal cap — Legal Le gal (l[=e] gal), a. [L. legalis, fr. lex, legis, law; prob. orig., that which lies or is fixed (cf. L. lectus bed), and if so akin to E. lie, law: cf. F. l[ e]gal. Cf. {Lie} to be prostrate, {Loyal}, {Leal}.] 1. Created by, permitted by …   The Collaborative International Dictionary of English

  • Legal tender — Legal Le gal (l[=e] gal), a. [L. legalis, fr. lex, legis, law; prob. orig., that which lies or is fixed (cf. L. lectus bed), and if so akin to E. lie, law: cf. F. l[ e]gal. Cf. {Lie} to be prostrate, {Loyal}, {Leal}.] 1. Created by, permitted by …   The Collaborative International Dictionary of English

  • legal asset — UK US noun [C] LAW ► something that a person or company owns and can be used to pay a debt: »Legal assets include things such as intellectual property …   Financial and business terms

  • assets — /aesets/ Property of all kinds, real and personal, tangible and intangible, including, inter alia, for certain purposes, patents and causes of action which belong to any person including a corporation and the estate of a decedent. The entire… …   Black's law dictionary

  • assets — /aesets/ Property of all kinds, real and personal, tangible and intangible, including, inter alia, for certain purposes, patents and causes of action which belong to any person including a corporation and the estate of a decedent. The entire… …   Black's law dictionary

  • legal — 1. Conforming to the law; according to law; required or permitted by law; not forbidden or discountenanced by law; good and effectual in law; of or pertaining to the law; lawful. Freeman v. Fowler Packing Co., 135 Kan. 378, 11 P.2d 276, 277. See… …   Black's law dictionary

  • legal — 1. Conforming to the law; according to law; required or permitted by law; not forbidden or discountenanced by law; good and effectual in law; of or pertaining to the law; lawful. Freeman v. Fowler Packing Co., 135 Kan. 378, 11 P.2d 276, 277. See… …   Black's law dictionary

  • LEGAL PERSON — LEGAL PERSON, a body of men or of property which the law, in imitation of the personality of human beings, treats artificially as subject of rights and duties independent of its component parts. The classic example of a legal person is the  … …   Encyclopedia of Judaism

  • legal reserve — see reserve Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. legal reserve …   Law dictionary

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