Delaware Code > Title 14 > Chapter 65 – Organization, Administration and Functions
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Terms Used In Delaware Code > Title 14 > Chapter 65 - Organization, Administration and Functions
- Bequest: Property gifted by will.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- 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.
- Fraud: Intentional deception resulting in injury to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Service of process: The service of writs or summonses to the appropriate party.
- State Board: consists of 9 members who are citizens of this State andappointed as follows:
(1) The Governor shall appoint, with Senate confirmation, 7 voting members. See Delaware Code Title 14 Sec. 104
- Trustee: A person or institution holding and administering property in trust.