Terms Used In Delaware Code > Title 12 > Chapter 23 - Accounting and Distribution

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• 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.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bank: means a Delaware state bank, out-of-state state bank, Delaware national bank or out-of-state national bank. See Delaware Code Title 5 Sec. 795
• Bank holding company: has the meaning specified in the Bank Holding Company Act of 1956, as amended, 12 U. See Delaware Code Title 5 Sec. 795
• 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 form: means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner. See Delaware Code Title 12 Sec. 801
• Bequest: Property gifted by will.
• Branch office: has the meaning specified in § 770 of this title. See Delaware Code Title 5 Sec. 795
• Chambers: A judge's office.
• Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Commissioner: means the person appointed by the Governor and confirmed by the Senate who serves as the Marijuana Commissioner for the State. See Delaware Code Title 4 Sec. 1302
• Conviction: A judgement of guilt against a criminal defendant.
• Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• death taxes: include inheritance and estate taxes and any taxes levied against the estate of a decedent upon the occasion of the decedent's death. See Delaware Code Title 12 Sec. 2351
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Safety and Homeland Security. See Delaware Code Title 4 Sec. 1302
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Devise: To gift property by will.
• Domiciliary state: means the jurisdiction in which the decedent was domiciled at the time of the decedent's death. See Delaware Code Title 12 Sec. 2351
• Establishment: means any place located physically in this State where alcoholic liquor of 1 or more varieties is stored, sold or used by authority of any law of this State, including a hotel, restaurant, tavern, beer garden, or club as defined in this section, or where alcoholic liquor of 1 or more varieties is manufactured by virtue of any law of this State. See Delaware Code Title 4 Sec. 101
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiduciary: A trustee, executor, or administrator.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Full age: means the age of 18 years or older. See Delaware Code Title 1 Sec. 302
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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: is a "guardian of the person" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
• Heirs: means those persons, including the surviving spouse, who are entitled under the statutes of intestate succession to the property of a decedent. See Delaware Code Title 12 Sec. 801
• Infancy: means an age of less than 18 years. See Delaware Code Title 1 Sec. 302
• Intestate: Dying without leaving a will.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Legacy: A gift of property made by will.
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means any license or permit to cultivate, possess, manufacture, sell, transport, or test marijuana or marijuana products and accessories authorized or issued by the Commissioner under this chapter. See Delaware Code Title 4 Sec. 1302
• Lineal descendant: Direct descendant of the same ancestors.
• Marijuana: means as defined in § 4701 of Title 16. See Delaware Code Title 4 Sec. 1302
• Marijuana accessories: means any equipment, products, or materials of any kind which are used, intended for use, or designed for use in planting, propagating, cultivating, growing, harvesting, composting, manufacturing, compounding, converting, producing, processing, preparing, testing, analyzing, packaging, repackaging, storing, vaporizing, or containing marijuana; or for ingesting, inhaling, or otherwise introducing marijuana into the human body. See Delaware Code Title 4 Sec. 1302
• Marijuana products: means products that are comprised of marijuana, including concentrated marijuana, and other ingredients and are intended for use or consumption, such as edible products, ointments, and tinctures. See Delaware Code Title 4 Sec. 1302
• 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.
• Merger: includes merger, consolidation and the purchase or sale of all or substantially all assets. See Delaware Code Title 5 Sec. 795
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{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.
• 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.
• Out-of-state bank: means an out-of-state state bank or an out-of-state national bank. See Delaware Code Title 5 Sec. 795
• Out-of-state state bank: means a state bank, as defined in the Federal Deposit Insurance Act, as amended, at 12 U. See Delaware Code Title 5 Sec. 795
• Party: means the respondent, petitioner, guardian, conservator, or any other person allowed by the Court to participate in a guardianship or protective proceeding. See Delaware Code Title 12 Sec. 39A-101
• Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
• Person: means as defined in § 302 of Title 1. See Delaware Code Title 4 Sec. 1302
• Person: means an individual, a corporation, an organization or other legal entity. See Delaware Code Title 12 Sec. 801
• Personal representative: includes executor, administrator, successor personal representative, special administrator and persons who perform substantially the same function under the law governing their status. See Delaware Code Title 12 Sec. 801
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Probate: Proving a will
• Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Delaware Code Title 12 Sec. 801
• protected person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Delaware Code Title 12 Sec. 39A-101
• Protective order: means an order appointing a "guardian of the property" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Delaware Code Title 12 Sec. 39A-101
• Registering entity: means a person who originates or transfers a security title by registration and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities. See Delaware Code Title 12 Sec. 801
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Sale: means every act of selling as defined in this section. See Delaware Code Title 4 Sec. 101
• Security: means a share, participation or other interest in property, in a business or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security and a security account. See Delaware Code Title 12 Sec. 801
• Security account: means :

  a. See Delaware Code Title 12 Sec. 801

• Sell: means : solicit or receive an order for; keep or expose for sale; deliver for value or in any other way than purely gratuitously; keep with intent to sell; keep or transport in contravention of this title; traffic in; or for any valuable consideration, promised or obtained, directly or indirectly, or under any pretext or by any means whatsoever, procure or allow to be procured for any other person, to carry alcoholic liquors on one's person or to transport with one and with intent to sell the same, but not in any establishment where the sale thereof is allowed. See Delaware Code Title 4 Sec. 101
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico and any territory or possession subject to the legislative authority of the United States. See Delaware Code Title 12 Sec. 801
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testate: To die leaving a will.
• Testator: A male person who leaves a will at death.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Verdict: The decision of a petit jury or a judge.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.