Note: Since they prevent the enjoyment and benefit of wealth, accumulations are considered contrary to public order. A stacking provision in a will is declared invalid if it is deemed inappropriate by the court. The definition of accumulation in United States law, as defined by lexicographer Arthur Leff in his legal dictionary, is as follows: The New York State Society of Certified Public Accountants provides the following definition of accumulation in a way that is easy for everyone to understand: profits that are not paid out as dividends, but which are added to the company`s capital base. Encyclopedic, “Accumulation” (legaldictionary.lawin.org 2018) joined on September 29, 2022 Are you a lawyer? Visit our professional website » At FindLaw.com, we pride ourselves on being the leading source of free legal information and resources on the Internet. Contact us. What happens when someone or something accumulates. For legal measures taken to ensure that the impulse to produce accumulations does not spiral out of control, see the rule against accumulation. 06 2018. 09 2022 FindLaw.com Free and reliable legal information for consumers and legal professionals Abogado.com The #1 Spanish legal site for consumers In this legal dictionary, the term legal accumulation is a kind of insurance class. (2018, 06). Accumulation legaldictionary.lawin.org Accessed 09, 2022, by legaldictionary.lawin.org/accumulation/ The continuous addition of a fund`s income to capital so that the fund grows indefinitely. Before the Accumulation Act of 1800, accumulation was permitted for the duration of the period of eternity (i.e. life being plus 21 years: see rule against eternities).
The periods for which accumulation is now permitted are shorter; They are listed in the Property Law Act 1925 and the Life and Accumulation Act 1964 and cover a period of 21 years from the date of disposition, the period of life of the principal and the duration of the minority of a person mentioned in the Dispositio. Income is often intended to be accumulated if (for example) the beneficiary is a minor. or the interest is protected or conditioned in its favour or where the terms of a trust are discretionary. LawInfo.com National Bar Directory and Consumer Legal Resources The FindLaw Legal Dictionary – free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries. In the context of English law, A Dictionary of Law provides the following legal concept of accumulation: TermsPrivacyDisclaimerCookiesDon`t sell my information Source: Merriam-Webster`s Dictionary of Law ©1996. Licensed with Merriam-Webster, Incorporated. What motivated you to look it up in this dictionary? Please let us know where you read it (including the quote, if possible). Give profits to a company instead of giving dividends. Buy raw materials, but don`t sell them. Add substances to any environment that is not environmentally friendly. See retained earnings.
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All rights reserved. You might be interested in the historical significance of this term. Search or search for accumulation in historical law in the Encyclopedia of Law.
