Law Dictionary Definitions

floating,adj. Not fixed or settled; fluctuating; variable.[Blacks Law 8th]

floater insurance.See INSURANCE.[Blacks Law 8th]

floater. See floating-rate note under NOTE(1).[Blacks Law 8th]

floatage. See FLOTSAM.[Blacks Law 8th]

float,n.1. The sum of money represented by outstanding or uncollected checks. “ ‘Float’ refers to the artificial balance created due to delays in processing credits and debits to an account.” In re Cannon, 277 F.3d 838, 843 (6th Cir. 2002). The delay between a transaction and the withdrawal of funds to cover the transaction. 3.…

flip mortgage.See MORTGAGE.[Blacks Law 8th]

flip,vb. Slang. 1. To buy and then immediately resell securities or real estate in an attempt to turn a profit. 2. To refinance consumer loans. 3.Slang. To turn state’s evidence. See TURN STATE’S EVIDENCE.[Blacks Law 8th]

flight from prosecution.See FLIGHT.[Blacks Law 8th]

flight easement.See avigational easement under EASEMENT.[Blacks Law 8th]

flight. The act or an instance of fleeing, esp. to evade arrest or prosecution . — Also termed flight from prosecution; flee from justice.[Blacks Law 8th]