profits

profits
Gains. The excess of gross sales over cost of goods plus expenses of operation. McDaniel v State Fair (Tex Civ App) 286 SW 513, 516. The excess of receipts over expenditures. Connolly v Davidson, 15 Minn 519. For some purposes, the equivalent of income. Anno: 24 ALR 17; 130 ALR 512. The return to capital rather than earnings from labor performed or services rendered. Columbus Mining Co. v Ross, 218 Ky 98, 101, 290 SW 1052. See mesne profits; net profits; undivided profits.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

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  • Profits Interest — A monetary right awarded to the general partner, investment manager or a service provider of a partnership. The award consists of receiving a percentage of profits from a partnership without having to contribute capital to the partnership.… …   Investment dictionary

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