Legal Terms ( T )

Tangible Asset: Tangible asset refers to any asset that has a physical existence. Such assets can be perceived through the sense of touch and can have a price or value attached to it.

Tenancy: Tenancy refers to a state or contract by which the owner of a property, who is known as the landlord, gives sole possession of his property to another person known as the tenant. In exchange of this transfer of possession of property, the tenant makes a periodic payment of a particular amount to the landlord that both the parties have mutually agreed upon.

Testamentary Capacity: It refers to the lawful ability of a person to sign a will.

Testimony: Testimony is a law term that refers to the statement made by a witness under oath in a legal proceeding. This testimony is treated as an evidence.

Title (property): It is the legal term for ownership. The term also encompasses the right and duty to protect a property and the power to dispose it.

Tort: Tort refers to a civil wrong that does not consist of a breach of contract. An injured person can sue the wrongdoer for the tort and claim damages as well.

Trademark: Any slogan, mark, picture or logo used by a person or company to identify and distinguish goods or services that he provides from those of others in the same field. 

Transfer: The act by which the owner of a thing delivers the thing and all his rights on it to another person.

Treason: Treason refers to betrayal, treachery or breach of allegiance against the head of a state (the government or the monarch). The Constitution of United States defines this law term as any act that imposes war on the state or aid or comfort given to its enemies.

Trespass: As per law terms, trespass refers to unlawful interference, violation or entry into another person’s property or rights. It also includes illegal violence against a person that may cause harm to the victim.

Trust: Trust is the property given by a donor to a trustee who looks after the property for the benefit of a third person called the beneficiary. This beneficiary gets interests and dividends from the assets in the trust for a specific number of years. 

Turbary: In common parlance, turbary refers to an area of peat land from which mat of grass and grass roots (turf) or any other material can be extracted to be used as fuel. As a legal term, turbary refers to the right of an individual to cut turf from a turbary that is jointly owned by him and another person or from a turbary that is exclusively owned by someone else.

 

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