Posts by admin

appraisal   remedy.The   statutory   right   of   corporate   shareholders   who   oppose   some extraordinary corporate action (such as a merger) to have their shares judicially appraised and to demand that the corporation buy back their shares at the appraised value. — Also termed appraisal right; dissenters’ right; right of dissent and appraisal. [Cases: Corporations    182.4(5), 584. C.J.S. Corporations…

appraisal clause.An  insurance-policy  provision  allowing  either  the  insurer  or  the  insured  to demand an inde-pendent estimation of a claimed loss. [Cases: Insurance    3249. C.J.S. Insurance §§ 1379–1380.] [Blacks Law 8th]

appraisal,n.1.  The  determination  of  what  constitutes  a  fair  price;  valuation;  estimation  of worth. 2. The report of such a determination. — Also termed appraisement. Cf. ASSESSMENT(3). — appraise,vb. [Blacks Law 8th]

apposite (ap-<<schwa>>-zit), adj. Suitable; appropriate. [Blacks Law 8th]

apposer (<<schwa>>-pohz-<<schwa>>r).Hist. 1. A questioner; interrogator. 2. An Exchequer officer who ex-amined sheriffs’ accounts; specif., an officer responsible for examining the sheriff’s estreat  (book  of  fines),  comparing  the  entries  with  those  in  court  records,  and  apposing (interrogating)  the  sheriff  on  each  sum  in  the  estreat.  •  This  office was  abolished  in  England  in 1833. —…

appose  (<<schwa>>-pohz),  vb.  Hist.  1.To  interrogate,  esp.  with  difficult  questions.  2.  To confront (someone) with objections to something. 3. To examine the books and accounts of; audit. [Blacks Law 8th]

apportum  (<<schwa>>-por-t<<schwa>>m),  n.[Law  Latin]  Hist.  The  revenue,  profit,  or emolument that something brings to its owner. • This was often used in reference to a pension. [Blacks Law 8th]

apportionment  rule.Oil  &  gas.  The  minority  doctrine  that  royalties  accrued  under  an oil-and-gas  lease  on  land  that  is  subdivided  during  the  lease  term  must  be  shared  by  the landowners in  proportion to their interests in the land. • For example, if Grey  granted a lease to Simms, then sold one-half of the land to Metcalfe,…

apportionment of  liability.Torts.  The  parceling  out of  liability  for  an  injury  among  multiple tortfeasors, and possibly the plaintiff as well. • Apportionment of liability encompasses such legal doctrines as joint and several liability, comparative responsibility, indemnity, and settlements. See Restatement (Third) of Torts: Apportion-ment of Liability (1999). [Cases: Negligence    484, 549; Torts    22. C.J.S. Negligence…

apportionment  clause.Insurance.  A  policy  provision  that  distributes  insurance  proceeds  in proportion to the total coverage. [Cases: Insurance    2193.C.J.S. Insurance § 1117.] [Blacks Law 8th]