Examlex
What personal property is specifically excluded from coverage by a homeowner's insurance?
De Facto Corporation
A business entity that operates like a corporation but without legal incorporation status, often recognized by courts for liability purposes.
Defective Incorporation
A legal term referring to the situation where a company has been incorrectly or incompletely formed, potentially affecting its legal status and liabilities.
Personal Liability
The legal responsibility of an individual to settle debts or damages out of their own assets.
Gross Revenues
The total amount of money earned by a business before any deductions or expenses are subtracted.
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