the original cost of an asset to be used to determine the amount of capital gain tax upon its sale; an "adjusted basis" includes improvements, expenses, and damages between the time the original basis (price) is established and transfer of the asset; "stepped up basis" means that the original basis of an asset will be stepped up to current value at the time of the death of the owner, and thus keep down capital gain taxes if the beneficiary of the dead person sells the asset
in the United States, a fancy name for a lawyer or attorney; in Great Britain, there is a two-tier bar made up of solicitors, who perform all legal tasks except appearance in court, and barristers, who try cases
creating legal business by stirring up disputes and quarrels, generally for the benefit of the lawyer who sees fees in the matter; barratry is illegal in all states and subject to criminal punishment and/or discipline by the state bar, but there must be a showing that the resulting lawsuit was totally groundless
examination given in each state by either the highest court or, if an "integrated" bar, by the state bar association (subject to appeal to the State Supreme Court) for admission as an attorney
organization of lawyers; there are two types, one of which is official and usually called an "integrated bar," which is qualified by the particular state's highest court to establish rules for admission and conduct; there are also local bar associations by city or county which are unofficial and voluntary, but do conduct the business of attorneys, such as settling fee disputes and working with the local courts on rules; there is also the American Bar Association, a national voluntary organization of attorneys
1) collectively all attorneys, as "the bar," which comes from the bar or railing which separates the general spectator area of the courtroom from the area reserved for judges, attorneys, parties and court officials 2) to prevent some legal maneuver, as in "barring" a lawsuit due to the running out of the time to file 3) to prohibit and keep someone from entering a room, building or real property
specialized federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted
federal system of statutes and courts which permits persons and businesses which are insolvent (debtors) or (in some cases) face potential insolvency, to place their financial affairs under the control of the bankruptcy court; the procedure is that when the debtor's debts exceed their assets or ability to pay, the debtor can file a petition with the bankruptcy court for voluntary bankruptcy or the debtor's unpaid creditors can file an "involuntary" petition to force the debtor into bankruptcy, although voluntary bankruptcy is far more common
a dishonest sales practice in which a business advertises a bargain price for an item in order to draw customers into the store and then tells the prospective buyer that the advertised item is of poor quality or no longer available and attempts to switch the customer to a more expensive product