| Acceleration Clause |
A clause in a contract that states that if a payment is missed, or some other default occurs (such as the debtor becoming insolvent), then the contract is fully due immediately. |
| Accrual Basis Accounting |
An accounting method that records sales, expenses or other events at the time they occur, rather than when cash changes hands |
| Acquiescence |
Action or inaction which binds a person legally even though it was not intended as such. For example, action which is not intended as a direct acceptance of a contract will nevertheless stand as such as it implies recognition of the terms of the contract. Acquiescence also refers to allowing too much time to pass since you had knowledge of an event which may have allowed you to have legal recourse against another, implying that you waive your rights to that legal recourse. |
| Balloon Loan |
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal. |
| Balloon-frame Construction |
A type of framing used in two-story homes in which studs extend from the ground to the ceiling of the second floor. |
| Balloon Mortgage |
A mortgage loan that requires the remaining principal balance be paid at a specific point in time. For example, a loan may be amortized as if it would be paid over a thirty year period, but requires that at the end of the tenth year the entire remaining balance must be paid. |
| Conversion |
changing chapters in bankruptcy (e.g., converting from Chapter 11 to Chapter 7 or vice-versa). |
| Core Proceedings |
those proceedings that are inherent in and fundamental to the administration of a bankruptcy case. Core proceedings are subject to the jurisdiction of the bankruptcy court. Non-core proceedings may be conducted outside the jurisdiction of the bankruptcy court. |
| Cramdown |
confirmation of a plan of reorganization over the objections of one or more classes of creditors. |
| Deed |
A written, legal instrument that conveys an estate or interest in real property when it is executed and delivered. There are numerous types of deeds. |
| Default Judgment |
An order or judgment made based on only the plaintiff's (petitioner's) complaint, due to no response or presence of the defendant (respondent). |
| Default Order |
A failure to respond in the time required by law to a summons and complaint served on a party. If a legal answer or other response is not filed, the suing party (plaintiff) can request a default be entered in the record, which terminates the rights of the defaulting party to defend the case. |
| Enrollee Hotline |
Toll-free telephone lines, usually staffed by the State or enrollment broker that beneficiaries may call when they encounter a problem with their MCO/PHP. The people who staff hotlines are knowledgeable about program policies and may play an "intake and triage" role or may assist in resolving the problem. |
| Enrollment Part A |
There are four periods during which you can enroll in premium Part A: Initial Enrollment Period (IEP), General Enrollment Period (GEP), Special Enrollment Period (SEP), and Transfer Enrollment Period (TEP): (1) Initial Enrollment Period: The IEP is the first chance you have to enroll in premium Part A. Your IEP starts 3 months before you first meet all the eligibility requirements for Medicare and continues for 7 months; (2) General Enrollment Period: January 1 through March 31 of each year. Your premium Part A coverage is effective July 1 after the GEP in which you enroll: (3) Special Enrollment Period: The SEP is for people who did not take premium Part A during their IEP because you or your spouse currently work and have group health plan coverage through your current employer or union. You can sign up for premium Part A at any time you are covered under the Group Health Plan based on current employment. If the employment or group health coverage ends, you have 8 months to sign up. The 8 months start the month after the employment ends or the group health coverage ends, whichever comes first; and (4) Transfer Enrollment Period: The TEP is for people age 65 or older who have Part B only and are enrolled in a Medicare managed care plan. You can sign up for premium Part A during any month in which you are enrolled in a Medicare managed care plan. If you leave the plan or if the plan coverage ends, you have 8 months to sign up. The 8 months start the month after the month you leave the plan or the plan coverage ends. If you enroll in Part B or Part A (if you don't get it automatically without paying a premium) during the GEP, your coverage starts on July 1. |
| Esrd Eligibility Requirements |
To qualify for Medicare under the renal provision, a person must have ESRD and either be entitled to a monthly insurance benefit under Title II of the Act (or an annuity under the Railroad Retirement Act), be fully or currently insured under Social Security (railroad work may count), or be the spouse or dependent child of a person who meets at least one of the two last requirements. There is no minimum age for eligibility under the renal disease provision. An Application for Health Insurance Benefits Under Medicare for Individuals with Chronic Renal Disease, Form HCFA-43 (effective October 1, 1978) must be filed. |
| Family Court Commissioner |
Attorney appointed in each county to issue temporary orders on custody, physical placement and child support. A judge either approves the Family Court Commissioner’s temporary orders or holds a de novo review hearing. |
| Family Group Conferencing |
Also known as Family Group Decision Making or Family Team Meetings, these are model approaches to child welfare practice in which all those people concerned about a child's welfare meet to develop a plan for that child. Generally facilitated by professionals, most plans must be approved by a judge if the child has already been adjudicated dependent. In some cases, the conference takes place before any court action and prevents court involvement while providing services to the family. |
| Findings Of Fact And Conclusions Of Law |
These, together with the decree and judgment, are issued by the judge at the end of your case. The findings of fact are the judge's determination from the evidence presented. The conclusions of law are the legal propositions arrived at by the judge based on the findings of facts. See our Finishing the Case page to understand how these fit into your case, as well as forms for your use. |
| Gerrymandering |
The distorted drawing of electoral lines to give an unfair advantage to one group. The word comes from a combination of salamander and Elbridge Gerry (I 744-1814), a Revolutionary era governor of Massachusetts and signer of the Declaration of Independence. According to one story, the word has its roots in an electoral district drawn by Gerry's party for the 1812 election that looked like a salamander. |
| Goals |
Within the context of affirmative action, an ideal to reach for as one measure of nondiscrimination and of the effectiveness of efforts. |
| Government Discrimination |
Governmental discrimination is discrimination like any other type that would occur in the private sector, such as discrimination based on race, sex, and age, except it is committed by the government or in a government setting. Governmental discrimination most often occurs in the context of employment disputes. If you work directly for the federal or state government, or one of their agencies, you are considered a government employee. What this means is that any legal dispute you may have arising from your employment may be handled differently than if you were in the private sector. |
| Hard Call Protection |
For convertible bonds, one of two types of call protection. Hard call protection prohibits an issuer from calling an issue within a certain period of time. For convertible bonds, hard call protection is most often set at three years, but can range from two to five years. |
| Hard Inquiry |
An indication on your credit file that a lender has obtained a copy of the report in order to evaluate your loan or credit application. An excess of hard inquiries within a six-month period may lower your credit rating. |
| Hazzard Insurance |
Insurance covering losses incurred by an insured as a result of damage, destruction, or loss of property. Mainly, but not entirely, insurance against fire and lightning damage. Insurance other than life or liability insurance. |
| Ina |
Immigration and Nationality Act |
| Individual Taxpayer Identification Number (itin) |
An identification number that persons not eligible for a SOCIAL SECURITY CARD may use to file a tax return or open a bank account. To obtain an ITIN, individuals must file a Form W-7 with the Internal Revenue Service. The ITIN may not be used to obtain SOCIAL SECURITY or other benefits, or to claim the Earned Income Tax Credit. |
| Ins |
An abbreviation of the name for the Immigration and Naturalization Service offices. The INS was abolished and its functions placed under three agencies – U.S. Citizenship and Immigration Services (USCIS), ICE and CBP – within the newly created DHS.
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| Job Sharing |
The practice of two different employees performing the tasks of one full-time position. |
| Job Title |
A specific name given to a particular job which is used to distinguish that job from other jobs within the organization. |
| Joint Employment |
The relationship between a Professional employer organization or employee leasing firm and an employer,based on a contractual sharing of liability and responsibility for employees. |
| Kindness |
Caring for or showing empathy for others. |
| Kkk |
The Ku Klux Klan is the name of a number of past and present fraternal organizations in the United States that have advocated white supremacy, anti-Semitism, racism, anti-Catholicism, homophobia, and nativism. These organizations have often used terrorism, violence and acts of intimidation such as cross burnings to oppress African Americans and others. |
| Knowing Human Rights |
To know the past, present, and evolving nature of human rights, as found in the International Bill of Human Rights and other human rights standards and norms. |
| Legal Life Estate |
A legal life estate is not created voluntarily by an owner. Rather, it is a form of life estate established by state law. It becomes effective automatically when certain events occur. |
| Legatee |
A person who receives money or personal property under a will. |
| Lender |
A term which can refer to the institution making the loan or to the individual representing the firm. For example, loan officers are often referred to as "lenders." |
| Medical Technology |
Includes drugs, devices, techniques, and procedures used in delivering medical care and the support systems for that care. There are no accurate estimates of how much new technology contributes to health spending. |
| Medical Transcriptionist |
Transcribes from dictating machine diagnostic work-ups, case histories, physicals, consultations, discharge summaries, and operations, using knowledge of medical terminology. Performs other routine clerical work. |
| Medical Underwriting |
The evaluation process to determine whether the individuals or groups' health risk is acceptable. Individuals or groups may have to have their past experience or medical histories reviewed prior to coverage. |
| Nurse Practitioner (np) |
A registered professional nurse with graduate level education in a nursing specialty (i.e., family health, pediatrics, gerontology). In N.J., NPs are licensed by the State Board of Nursing and are qualified to carry out expanded healthcare evaluations and treatment plans. Also known as advanced practice nurse. |
| Nurses Aide |
Legally qualified person who is certified by the state to perform certain health care services, usually in the area of personal care or home health services. Also called certified nurses aid. |
| Nursing Facility (nf) |
Facilities licensed by and approved by the state in which eligible individuals receive skilled nursing care and appropriate rehabilitative and restorative services. |
| Outpatient Hospital |
A portion of a hospital which provides diagnostic, therapeutic (both surgical and nonsurgical), and rehabilitation services to sick or injured persons who do not require hospitalization or institutionalization. Part of the Hospital providing services covered by SMI, including services in an emergency room or outpatient clinic, ambulatory surgical procedures, medical supplies such as splints, laboratory tests billed by the hospital, etc. |
| Outpatient Hospital Services (medicare) |
Medicare or surgical care that Medicare Part B helps pay for and does not include an overnight hospital stay, including: (1) blood transfusions; (2) certain drugs; (3) hospital billed laboratory tests; (4) mental health care; (5) medical supplies such as splints and casts; (6) emergency room or outpatient clinic, including same day surgery; and (7) emergency room or outpatient clinic, including same day surgery; and (8) x-rays and other radiation services. |
| Outpatient Prospective Payment System |
The way that Medicare pays for most outpatient services at hospitals or community mental health centers under Medicare Part B. |
| Part-time Employee |
An individual who continually works less than 40 hours per week (standard workweek hours are based on individual employer policy, therefore, a 40-hour workweek is only a guideline; this number could be higher or lower). |
| Paternity Leave |
A benefit designed to provide fathers of newborn children with paid or unpaid time off from work following the birth of the child. |
| Parties |
The Claimant and the Respondent are collectively known as the parties to the case. Individually, each is a party. |
| Quantity Survey Method |
The appraisal method of estimating building costs by calculating the cost of all of the physical components in the improvements, adding the cost to assemble them and then including the indirect costs associated with such construction. |
| Quassi Contract |
A contract implied by law, as a matter of equity, when no actual contract exists. |
| Queen Anne Style |
A Victorian-era style that originated in San Francisco. |
| Rehabilitative Care |
The care of patients with the intent of curing, improving or preventing a worsening of their condition. For example, physical therapy after hip replacement surgery to resume walking, or occupational therapy to prevent carpal tunnel syndrome. |
| Rehabilitation Services |
Services that help you regain abilities, such as speech or walking, that have been impaired by an illness or injury. These services are given by nurses, and physical, occupational and speech therapists. Examples include working with a physical therapist to help you walk and with an occupational therapist to help you get dressed. |
| Religious Nonmedical Health Care Institution |
A facility that provides nonmedical health care items and services to people who need hospital or skilled nursing facility care, but for whom that care would be inconsistent with their religious beliefs. |
| Supplemental Security Income (ssi) |
A Federal program of income support for low income, aged, blind and disabled persons established by Title XVI of the Social Security Act. Qualification for SSI often is used to establish Medicaid eligibility. |
| Supplemental Services |
Optional services that a health plan may cover or provide in addition to its basic health services. |
| Supplementary Medical Insurance (cms) |
The Medicare program that pays for a portion of the costs of physicians' services, outpatient hospital services, and other related medical and health services for voluntarily insured aged and disabled individuals. Also known as Part B. |
| Tort |
Willful or negligent injury to the person, property, or reputation of another. |
| Torture |
Any act by which severe pain or suffering, whether physical or mental, is intentionally inflicted by or at the instigation of an individual (e.g., a public official) or group on a person for such reasons as obtaining from him or her or a third person information or confession, punishing them for an act they have committed or are suspected of having committed, or intimidating him or her or other persons. |
| Treaty |
binding agreement between states; used synonymously with covenant and convention. When treaties are adopted by the UN General Assembly, they create legally binding international obligations for the Member States who have signed the treaty. When a national government ratifies a treaty, the articles of that treaty become part of its domestic legal obligations. |
| Unsaturated |
The characteristic of a carbon atom in a hydrocarbon molecule that shares a double bond with another carbon atom. |
| Uranium Mill-tailings Waste Piles |
Licensed active mills with tailings piles and evaporation ponds created by acid or alkaline leaching processes. |
| Urban Runoff |
Storm water from city streets and adjacent domestic or commercial properties that carries pollutants of various kinds into the sewer systems and receiving waters. |
| Volatile Organic Compounds |
Carbon compounds that tend to be emitted as gases into the air. Organic chemicals are widely used as ingredients in household products. Paints, varnishes, and wax all contain organic solvents, as do many cleaning, disinfecting, cosmetic, degreasing, and hobby products. Fuels are made up of organic chemicals. All of these products can release organic compounds while in use or in storage. |
| Voluntary Conveyance |
Voluntarily signing over to a lender the property pledged as collateral on a defaulted loan. |
| Voluntary Lien |
A lien that a homeowner willingly gives to a lender. |
| Waiver |
A voluntary relinquishing of certain rights or claims. |
| Walk-out Basement |
A feature that allows a door to open onto ground level. |
| Walk Through |
the final inspection of a property being sold by the buyer to confirm that any contingencies specified in the purchase agreement such as repairs have been completed, fixture and non-fixture property is in place and confirm the electrical, mechanical, and plumbing systems are in working order. |
| X12 Ihcebi & Ihcebr |
The X12 Interactive Healthcare Eligibility & Benefits Inquiry (IHCEBI) and Response (IHCEBR) transactions. These are being combined and converted to UN/EDIFACT Version 5 syntax. |
| X12 Ihclme |
The X12 Interactive Healthcare Claim transaction. |
| X12 Standard |
The term currently used for any X12 standard that has been approved since the most recent release of X12 American National Standards. Since a full set of X12 American National Standards is only released about once every five years, it is the X12 standards that are most likely to be in active use. These standards were previously called Draft Standards for Trial Use. |
| Ytm |
An acronym for Yield to Maturity |
| Youthful Offender |
A person, adjudicated in criminal court, who may be above the statutory age limit for juvniles but is below a specified upper age limit, for whom special correctional commitments and special record-sealing procedures are made available by statute. |
| Yield Capitalization |
A capitalization method used to convert future benefits to present value by discounting each future benefit at an appropriate yield rate or by developing an overall rate that reflects the investment's income pattern, value change, and yield rate. |
| Z Bond |
Another name for Z Tranche |
| Z Score |
One of the oldest and most well-known insolvency prediction formulas. The Z score, developed by Dr. Robert Altman, is a financial model that uses historical financial data to calculate a score. The Z score successfully predicts bankruptcy with well over 90 percent accuracy using data from one year prior and is over 70 percent accurate using data from as many as five years prior to bankruptcy. Other financial models claim even higher accuracy levels. |
| Z Tranche |
A Z tranche is a CMO tranche. With the exception of jump Z tranches, owners of the Z tranche receive no cash flow from underlying mortgage collateral until the other tranches are retired. During the period when other tranches are still outstanding, the owners of the Z tranche receive credit for periodic interest. Those credits increase the face value of the tranche but are not paid to the owners. The Z bond may be, but does not have to be, the last tranche in a CMO structure that is retired. Sometimes called an accretion bond or an accrual bond. |
