What does the legal term "per stirpes" mean?

Answer According to the Minnesota Judicial Branch, "per stirpes" is often used in probate and is a legal way of distributing assets of an estate, where the beneficiaries receive the share to which a decea... Read More »

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What does the legal term ccu mean?

The abbreviation CCU, when used in a legal context, often means Correctional Custody Unit. In the military, a CCU refers to a type of "tough-love" unit used to provide a second chance to offenders... Read More »

What does the legal term LLC mean?

The legal term LLC means limited liability company. As in a corporation, the owners cannot be sued for its obligations and debts, because they are not personally liable. However, for tax purposes t... Read More »

What does the legal term bonded mean?

Bonded is a legal and financial term. Bonded means a person, item or service is covered by a bond that acts as a guarantee against certain financial losses. For instance, if a bonded courier steal... Read More »

What does the legal term subrogation mean?

Subrogation is a legal term referring to the right to transfer a claim or responsibility to a third person. For instance, if an insurance company pays a policy-holder for damage to, say, a house or... Read More »