South Carolina Code > Title 59 > Chapter 19 > Article 1 – General Provisions
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Terms Used In South Carolina Code > Title 59 > Chapter 19 > Article 1 - General Provisions
- Bequest: Property gifted by will.
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- 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.
- Devise: To gift property by will.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- Oversight: Committee review of the activities of a Federal agency or program.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Statute: A law passed by a legislature.
- Trustee: A person or institution holding and administering property in trust.