Latin for Lawyers

L ATIN FOR L AWYERS

a reward for prompt response to an offer. Also, the refund to a taxpayer of a portion of taxes previously paid. REBELLION [L. re + bellum / war; from bellare / to wage war; to renew war; to offer resistance] Defiance of authority. An organized insurrection or attack, usually armed, against a governmental authority. Federal statutes define as a crime any act which incites or assists in a rebellion against the U.S. or its laws. RECANT [L. re + cantare / to sing or play] To renounce or reject. To withdraw a previous statement, such as a statement admitting guilt or complicity made by a suspect to the police. To recall or withdraw prior evidentiary statements. RECAPTION [L. re + capio , capere / to take or catch; to seize] At common law, the act of repossession undertaken personally by an aggrieved party to recover property, goods or personal chattels (including, originally, a wife, child or servant) wrongfully seized by another. Self-help. RECAPTURE [L. re + capio , capere / to take or catch] To take or seize again. To reenact or recall. The act of retaking. In tax law, the recovery by the IRS of a part of the depreciation or other credit previously deducted by the taxpayer on property which the taxpayer has sold or disposed of. In contract law, a recapture clause is a provision permitting an adjustment in rates or payment terms when there is a change in circumstances which is unfair to one party. In real property leases, a recapture clause enables the landlord to receive a share of the tenant’s profits in excess of a fixed mini mum rental. RECEIPT [L. recipio , recipere / to hold back, retain, receive, accept] A written instrument in which a party acknowledges that he has taken posses sion of an article. A recitation that possession of money or property has passed from one party in a transaction to another, as between seller and buyer. Under the U.C.C., taking physical possession of goods is receipt of goods. RECEIVABLE [L. recipere / to receive] The right of one party to recover a debt or obligation from another party. A right to payment for goods or services. A seller of goods has a receivable from his buyer equal to the agreed price of the goods sold. Examples of receivables: notes receivable; accounts receivable . RECEIVER [L. recipere / to receive] Anyone who receives or is entitled to receive. A tax receiver is a governmen tal official to whom taxes are paid. Also, an agent appointed by a court or

325