Law Dictionary Definitions

product. Something that is distributed commercially for use or consumption and that is usu. (1) tangible personal property, (2) the result of fabrication or processing, and (3) an item that has passed through a chain of commercial distribution before ultimate use or consumption. See MANUFACTURE; PRODUCTS LIABILITY. [Cases: Products Liability 1, 8. C.J.S. Products Liability…

producing cause. See proximate cause under CAUSE(1). [Blacks Law 8th]

producer price index. An index of wholesale price changes, issued monthly by the U.S. Bureau of Labor Statistics. — Formerly also termed wholesale price index. Cf. CONSUMER PRICE INDEX. [Blacks Law 8th]

producer. See INSURANCE AGENT. [Blacks Law 8th]

producent (pr<<schwa>>-d[y]oo-s<<schwa>>nt), n. Hist. Eccles. law. The party calling a witness. [Blacks Law 8th]

borrowed-statutes doctrine.The principle that if one state adopts a statute identical to that of another state, any settled judicial construction of that statute by the courts of the other state is binding on the courts of the state that later enacts the statute. [Cases: Courts  95(2); Statutes  226. C.J.S. Courts § 157; Statutes §§ 358–361.][Blacks…

borrowed servant.See borrowed employee under EMPLOYEE. [Blacks Law 8th]

borrowed employee.See EMPLOYEE.[Blacks Law 8th]

borrowed capital.Funds lent to a corporation or other entity to finance its operations, such as cash dividends that are declared by a corporation but temporarily retained (with stockholder approval) to provide operating funds. [Cases: Internal Revenue  4133; Taxation  378. C.J.S. Taxation § 550.][Blacks Law 8th]

borrow,n. A frankpledge. — Also spelled borgh; borh. See DECENARY; FRANKPLEDGE. borrow,vb.1. To take something for temporary use. 2. To receive money with the understanding or agreement that it must be repaid, usu. with interest. See LOAN. [Cases: Contracts  194.][Blacks Law 8th]