RULE

rule,n.1. Generally, an established and authoritative standard or principle; a general norm mandating or guiding conduct or action in a given type of situation. default rule.A legal principle that fills a gap in a contract in the absence of an applicable express provision but remains subject to a contrary agreement. Cf. GAP-FILLER. general rule.A rule…

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RUBRIC

rubric (roo-brik).1. The title of a statute or code <the rubric of the relevant statute is the Civil Rights Act of 1964>.2. A category or designation <assignment of rights falls under the rubric of contract law>.3. An authoritative rule, esp. for conducting a public worship service <the rubric dictates whether the congregation should stand or…

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RTC

RTC.abbr.RESOLUTION TRUST CORPORATION. [Blacks Law 8th]

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RSPA

RSPA.abbr.RESEARCH AND SPECIAL PROGRAMS ADMINISTRATION. [Blacks Law 8th]

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R.S.

R.S. See revised statutes under STATUTE. [Blacks Law 8th]

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RRB

RRB.abbr. RAILROAD RETIREMENT BOARD. [Blacks Law 8th]

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ROYALTY INTEREST

royalty interest.Oil & gas. A share of production — or the value or proceeds of production, free of the costs of production — when and if there is production. • A royalty interest is usu. expressed as a fraction (such as 1/6). A royalty-interest owner has no right to operate the property and therefore no…

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