Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: E

Earned Premium

If an insured person pays for a policy in advance, the “earned” premium is the portion of the policy that has already been used.

EXIGENCY OF A BOND

the act or the performance on which a bond is conditioned or the conditions of the bond.

EXCESS PROFITS TAX

a form of income tax that is calculated on the profits that are greater than a percentage of the invested capital.

EXISTING DEBT

This term applies to a debt that exists but is not due for payment as yet.

ESTOPPEL BY OATH

the bar that will deny something that is sworn to under oath in a previous suit in future suit.

E PLURIBUS UNUM

a Latin phrase that is the motto of the USA and states: Out of many, one or more commonly One for all and all for one.

EXCESS OF JURISDICTION

This occurs when a case is heard by the right jurisdiction but the judge then exceeds his jurisdiction when giving judgement.

ENACTING CLAUSE

This phrase is found new laws and indicates which legislative body voted for the statute.

EXECUTORY USE

The term applied to a trust or an interest that will arise at a time in the future.

ESTIMATED TAX

This term is applied to the estimated income tax that is based on the earnings expected and not that already earn.

EASEMENT BY CUSTOM

This when another person’s property has been used for a long period of time and is not obtained legally but by custom.

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