Terms Used In U.S. Code > Title 16 > Chapter 3
- Adjusted gross estate: The gross estate, less funeral expenses, expenses of estate administration during probate, debts of the estate, and casualty losses suffered during estate administration.
- administering body: means the entity provided for in section 2431g(c) of this title. See 22 USC 2431a
- Administrator: means the Administrator of the National Oceanic and Atmospheric Administration. See 42 USC 9102
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- affiliated group: means --
(A) 1 or more chains of includible corporations connected through stock ownership with a common parent corporation which is an includible corporation, but only if--
(B)(i) the common parent owns directly stock meeting the requirements of paragraph (2) in at least 1 of the other includible corporations, and
(ii) stock meeting the requirements of paragraph (2) in each of the includible corporations (except the common parent) is owned directly by 1 or more of the other includible corporations. See 26 USC 1504
- Agreement: means a Conservation Agreement provided for in section 2431g of this title. See 22 USC 2431a
- Agriculture: includes aquaculture and fisheries. See 22 USC 2403
- alcohol: means alcohol (including methanol and ethanol) which is produced from biomass and which is suitable for use by itself or in combination with other substances as a fuel or as a substitute for petroleum or petrochemical feedstocks. See 42 USC 8802
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- application: means any application submitted under this chapter (A) for issuance of a license for the ownership, construction, and operation of an ocean thermal energy conversion facility or plantship. See 42 USC 9102
- Appraisal: A determination of property value.
- appropriate congressional committees: means --
(A) the Committee on International Relations and the Committee on Appropriations of the House of Representatives. See 22 USC 2431a
- Arrest: Taking physical custody of a person by lawful authority.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Attorney General: means the Attorney General of the United States. See 26 USC 7701
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Balanced budget: A budget in which receipts equal outlays.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- beneficiary country: means an eligible country with respect to which the authority of section 2431d(a)(1) of this title, section 2431e(a)(1) of this title, or paragraph (1) or (2) of section 2431f(a) of this title is exercised. See 22 USC 2431a
- Bequest: Property gifted by will.
- biomass: means any organic matter which is available on a renewable basis, including agricultural crops and agricultural wastes and residues, wood and wood wastes and residues, animal wastes, municipal wastes, and aquatic plants. See 42 USC 8802
- biomass energy: means --
(A) biomass fuel. See 42 USC 8802
- biomass energy project: means any facility (or portion of a facility) located in the United States which is primarily for--
(A) the production of biomass fuel (and byproducts). See 42 USC 8802
- biomass fuel: means any gaseous, liquid, or solid fuel produced by conversion of biomass. See 42 USC 8802
- Board: means the board referred to in section 2431i of this title. See 22 USC 2431a
- Chairman: means the Chairman of the National Advisory Council on International Monetary and Financial Policies. See 22 USC 262r
- Chambers: A judge's office.
- coastal State: means a State in, or bordering on, the Atlantic, Pacific, or Arctic Ocean, the Gulf of Mexico, Long Island Sound, or one or more of the Great Lakes. See 42 USC 9102
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Commissioner: means the Commissioner of Internal Revenue. See 26 USC 7701
- Commodity: includes any material, article, supply, goods, or equipment used for the purposes of furnishing nonmilitary assistance. See 22 USC 2403
- Common disaster: A sudden and extraordinary misfortune that brings about the simultaneous or near-simultaneous deaths of two or more associated persons, such as husband and wife.
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
- construction: means --
(i) the construction or acquisition of any biomass energy project. See 42 USC 8802
- construction: means any activities conducted at sea to supervise, inspect, actually build, or perform other functions incidental to the building, repairing, or expanding of an ocean thermal energy conversion facility or plantship or any of its components, including but not limited to, piledriving, emplacement of mooring devices, emplacement of cables and pipelines, and deployment of the cold water pipe, and alterations, modifications, or additions to an ocean thermal energy conversion facility or plantship. See 42 USC 9102
- cooperative: means any agricultural association, as that term is defined in section 1141j(a) of title 12. See 42 USC 8802
- coral: means species of the phylum Cnidaria, including--
(A) all species of the orders Antipatharia (black corals), Scleractinia (stony corals), Alcyonacea (soft corals), Gorgonacea (horny corals), Stolonifera (organpipe corals and others), and Coenothecalia (blue coral), of the class Anthoza. See 22 USC 2431a
- coral reef: means any reef or shoal composed primarily of coral. See 22 USC 2431a
- corporation: includes associations, joint-stock companies, and insurance companies. See 26 USC 7701
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Devise: To gift property by will.
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Docket: A log containing brief entries of court proceedings.
- domestic: when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless, in the case of a partnership, the Secretary provides otherwise by regulations. See 26 USC 7701
- Donee: The recipient of a gift.
- Donor: The person who makes a gift.
- Dower: A widow
- eligible country: means a country designated by the President in accordance with section 2431c of this title. See 22 USC 2431a
- employee: shall include a full-time life insurance salesman who is considered an employee for the purpose of chapter 21. See 26 USC 7701
- energy product equivalent: means an energy carrier including, but not limited to, ammonia, hydrogen, or molten salts or an energy-intensive commodity, including, but not limited to, electrometals, fresh water, or nutrients for aquaculture. See 42 USC 9008
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Ex officio: Literally, by virtue of one's office.
- Executor: A male person named in a will to carry out the decedent
- Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
- facility: means an ocean thermal energy conversion facility. See 42 USC 9102
- Facility: means the Conservation Facility established in the Department of the Treasury by section 2431b of this title. See 22 USC 2431a
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- federally owned or administered forest land: shall be construed to mean forest land in which, or in the natural resources of which, the United States has a legal or equitable interest of any character sufficient to entitle the United States to control the management or disposition of the timber or other forest products thereon, except land heretofore or hereafter reserved or withdrawn for purposes which are inconsistent with the exercise of the authority conferred by this subchapter. See 16 USC 583f
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- fiduciary: means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. See 26 USC 7701
- Fiduciary: A trustee, executor, or administrator.
- financial assistance: means any of the following forms of financial assistance provided under this chapter, or any combination of such forms:
(ii) loan guarantees,
(iii) price guarantees, and
(iv) purchase agreements. See 42 USC 8802
- fiscal year: means an accounting period of 12 months ending on the last day of any month other than December. See 26 USC 7701
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- foreign: when applied to a corporation or partnership means a corporation or partnership which is not domestic. See 26 USC 7701
- foreign estate: means an estate the income of which, from sources without the United States which is not effectively connected with the conduct of a trade or business within the United States, is not includible in gross income under subtitle A. See 26 USC 7701
- foreign trust: means any trust other than a trust described in subparagraph (E) of paragraph (30). See 26 USC 7701
- forestry research: as used in this subchapter shall include investigations relating to: (1) Reforestation and management of land for the production of crops of timber and other related products of the forest. See 16 USC 582a-6
- Fraud: Intentional deception resulting in injury to another.
- Fund: means a Conservation Fund provided for in section 2431h of this title. See 22 USC 2431a
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Government agency: means any executive department, commission, agency, independent establishment, corporation wholly or partly owned by the United States which is an instrumentality of the United States, or any board, bureau, division, service, office, officer, authority, administration, or other establishment in the executive branch of Government. See 22 USC 2552
- Governor: means the Governor of a State or the person designated by law to exercise the powers granted to the Governor pursuant to this chapter. See 42 USC 9102
- Grantor: The person who establishes a trust and places property into it.
- Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- high seas: means that part of the oceans lying seaward of the territorial sea of the United States and outside the territorial sea, as recognized by the United States, of any other nation. See 42 USC 9102
- including: when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined. See 26 USC 7701
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Indian tribal government: means the governing body of any tribe, band, community, village, or group of Indians, or (if applicable) Alaska Natives, which is determined by the Secretary, after consultation with the Secretary of the Interior, to exercise governmental functions. See 26 USC 7701
- Indian tribe: means any Indian tribe, band, nation, or other organized group or community, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act [43 U. See 42 USC 8802
- INF Treaty: means the Treaty Between the United States of America and the Union of Soviet Socialist Republics on the Elimination of Their Intermediate-Range and Shorter-Range Missiles (signed at Washington, December 8, 1987). See 22 USC 2595c
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- Inter vivos: Transfer of property from one living person to another living person.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- international organization: means a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act (22 U. See 26 USC 7701
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
- Joint resolution: A legislative measure which requires the approval of both chambers.
- joint return: means a single return made jointly under section 6013 by a husband and wife. See 26 USC 7701
- Layover: Informal term for a period of delay required by rule. For example, when a bill or other measure is reported from committee, it may be considered on the floor only after it "lies over" for one legislative day and after the written report has been available for two calendar days. Layover periods may be waived by unanimous consent.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Legacy: A gift of property made by will.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Lineal descendant: Direct descendant of the same ancestors.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Magistrate judges: Judicial officers who assist U.S. district judges in getting cases ready for trial, who may decide some criminal and civil trials when both parties agree to have the case heard by a magistrate judge instead of a judge.
- Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
- Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
- marriage: means only a legal union between one man and one woman as husband and wife, and the word "spouse" refers only to a person of the opposite sex who is a husband or a wife. See 1 USC 7
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- municipal waste: means any organic matter, including sewage, sewage sludge, and industrial or commercial waste, and mixtures of such matter and inorganic refuse--
(i) from any publicly or privately operated municipal waste collection or similar disposal system, or
(ii) from similar waste flows (other than such flows which constitute agricultural wastes or residues, or wood wastes or residues from wood harvesting activities or production of forest products). See 42 USC 8802
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- oath: includes affirmation, and "sworn" includes affirmed. See 1 USC 1
- Oath: A promise to tell the truth.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- ocean thermal energy conversion: means a method of converting part of the heat from the Sun which is stored in the surface layers of a body of water into electrical energy or energy product equivalent. See 42 USC 9008
- ocean thermal energy conversion facility: means any facility which is standing, fixed or moored in whole or in part seaward of the highwater mark and which is designed to use temperature differences in ocean water to produce electricity or another form of energy capable of being used directly to perform work, and includes any equipment installed on such facility to use such electricity or other form of energy to produce, process, refine, or manufacture a product, and any cable or pipeline used to deliver such electricity, fresh water, or product to shore, and all other associated equipment and appurtenances of such facility, to the extent they are located seaward of the highwater mark. See 42 USC 9102
- ocean thermal energy conversion plantship: means any vessel which is designed to use temperature differences in ocean water while floating unmoored or moving through such water, to produce electricity or another form of energy capable of being used directly to perform work, and includes any equipment installed on such vessel to use such electricity or other form of energy to produce, process, refine, or manufacture a product, and any equipment used to transfer such product to other vessels for transportation to users, and all other associated equipment and appurtenances of such vessel. See 42 USC 9102
- Office of Alcohol Fuels: means the Office of Alcohol Fuels established under section 8820 of this title. See 42 USC 8802
- officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
- OSIA: means the On-Site Inspection Agency established by the President, or such other agency as may be designated by the President to carry out the on-site inspection provisions of the INF Treaty. See 22 USC 2595c
- partner: includes a member in such a syndicate, group, pool, joint venture, or organization. See 26 USC 7701
- partnership: includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation. See 26 USC 7701
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Peaceful Nuclear Explosions Treaty: means the Treaty Between the United States of America and the Union of Soviet Socialist Republics on Underground Nuclear Explosions for Peaceful Purposes (signed at Washington and Moscow, May 28, 1976). See 22 USC 2595c
- performance: when used in relation to functions, shall be deemed to include the exercise of power, authority, rights, and privileges. See 15 USC 769
- person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
- person: means any individual (whether or not a citizen of the United States), any corporation, partnership, association, or other entity organized or existing under the laws of any nation, and any Federal, State, local or foreign government or any entity of any such government. See 42 USC 9102
- Personal property: All property that is not real property.
- plantship: means an ocean thermal energy conversion plantship. See 42 USC 9102
- possession: includes , among other possessions, Puerto Rico and the Virgin Islands. See 42 USC 201
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- preceding calendar period: means --
(1) calendar years 1932 and 1970 and all calendar years intervening between calendar year 1932 and calendar year 1970,
(2) the first calendar quarter of calendar year 1971 and all calendar quarters intervening between such calendar quarter and the first calendar quarter of calendar year 1982, and
(3) all calendar years after 1981 and before the calendar year for which the tax is being computed. See 26 USC 2502
- Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
- President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
- Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
- qualified blood collector organization: means an organization which is--
(A) described in section 501(c)(3) and exempt from tax under section 501(a),
(B) primarily engaged in the activity of the collection of human blood,
(C) registered with the Secretary for purposes of excise tax exemptions, and
(D) registered by the Food and Drug Administration to collect blood. See 26 USC 7701
- Quorum: The number of legislators that must be present to do business.
- Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
- Remand: When an appellate court sends a case back to a lower court for further proceedings.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
- Secretary: means the Secretary of Energy. See 42 USC 9008
- Secretary: means the Secretary of Health and Human Services. See 42 USC 201
- Secretary of the Treasury: means the Secretary of the Treasury, personally, and shall not include any delegate of his. See 26 USC 7701
- Service: means the Public Health Service. See 42 USC 201
- Service of process: The service of writs or summonses to the appropriate party.
- shareholder: includes a member in an association, joint-stock company, or insurance company. See 26 USC 7701
- State: as used in this subchapter shall include Puerto Rico, the Virgin Islands, and Guam. See 16 USC 582a-7
- State: means any of the fifty States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. See 42 USC 8802
- State: shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title. See 26 USC 7701
- State: means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the United States Virgin Islands, Guam, the Commonwealth of the Northern Marianas, and any other Commonwealth, territory, or possession over which the United States has jurisdiction. See 42 USC 9102
- State: includes , in addition to the several States, only the District of Columbia, Guam, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, American Samoa, and the Trust Territory of the Pacific Islands. See 42 USC 201
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
- stock: includes shares in an association, joint-stock company, or insurance company. See 26 USC 7701
- student: means any individual--
(i) who is temporarily present in the United States--
(I) under subparagraph (F) or (M) of section 101(15) of the Immigration and Nationality Act, or
(II) as a student under subparagraph (J) or (Q) of such section 101(15), and
(ii) who substantially complies with the requirements for being so present. See 26 USC 7701
- Subpoena: A command to a witness to appear and give testimony.
- Summons: Another word for subpoena used by the criminal justice system.
- Surgeon General: means the Surgeon General of the Public Health Service. See 42 USC 201
- Tax Court: means the United States Tax Court. See 26 USC 7701
- taxable year: means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
- taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
- Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Threshold Test Ban Treaty: means the Treaty Between the United States of America and the Union of Soviet Socialist Republics on the Limitation of Underground Nuclear Weapons Tests (signed at Moscow, July 3, 1974). See 22 USC 2595c
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- trade or business: includes the performance of the functions of a public office. See 26 USC 7701
- transaction: includes a series of transactions. See 26 USC 7701
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
- United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
- United States citizen: means (A) any individual who is a citizen of the United States by law, birth, or naturalization. See 42 USC 9102
- United States person: means --
(A) a citizen or resident of the United States,
(B) a domestic partnership,
(C) a domestic corporation,
(D) any estate (other than a foreign estate, within the meaning of paragraph (31)), and
(E) any trust if--
(i) a court within the United States is able to exercise primary supervision over the administration of the trust, and
(ii) one or more United States persons have the authority to control all substantial decisions of the trust. See 26 USC 7701
- Value: means --
(1) with respect to an excess defense article, the actual value of the article plus the gross cost incurred by the United States Government in repairing, rehabilitating, or modifying the article, except that for purposes of section 2392(d) of this title such actual value shall not be taken into account. See 22 USC 2403
- vehicle: includes every description of carriage or other artificial contrivance used, or capable of being used, as a means of transportation on land. See 1 USC 4
- vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 1 USC 3
- Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
- whoever: include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. See 1 USC 1
- withholding agent: means any person required to deduct and withhold any tax under the provisions of section 1441, 1442, 1443, or 1461. See 26 USC 7701