Latin for Lawyers

L ATIN FOR L AWYERS

are required by law to set aside cash reserves to protect against future losses. In general accounting practice, a reserve is set aside and listed in the balance sheet of a business whenever a negative contingency or result may be reason ably anticipated. A reserve price at an auction is the lowest price that will be accepted by the auctioneer as a bid. RES FUNGIBILES [L. res + fungor, fungi , functus / to perform, execute, undergo] Fungible things. Things which are essentially the same as each other or indis tinguishable from each other. Objects of such a nature that one may be replaced by another without raising an issue or controversy as to its essential similarity. Things that can be counted, numbered or weighed together and then be replaced by the same measure of similiar objects without the need to identify any single object. Examples: peas, corn, wheat, coal, coins of the same denomination, etc. See FUNGIBLE RES GESTAE [L. res + gesto , gestare / to carry, bear, perform] All those matters, facts, statements, acts and events which tend to explain or clarify a point or fact at issue in a litigation. Those matters which are inherent in or essential to an occurrence or event. A res gestae witness is a witness who has experienced an event or act at issue by his own senses and can help the factfinder to find the truth by his testimony. Res gestae refers to any spon taneous declaration or statement made at the same time as, or immediately after, an event, by a victim or a witness, under circumstances which support truth and reliability; these statements, which are now generally referred to as spontaneous declarations , are admissible into evidence as an exception to the hearsay rule. RESIDE, RESIDENCE, RESIDENCY [L. re + sido , sidere / to sit down, stop, settle down] To dwell permanently in a place. The place in which a person lives over a sus tained period, not temporarily. A building used as a home. The place in which a business or corporation has its office or conducts its business. The word is sometimes used interchangeably with the word domicile , but the two are not the same. A domicile is a person’s legal home, i.e., the place which he regards as his principal residence and to which he intends always to return. A person may have two residences but only one domicile . See DOMICILE RESIDUARY [L. residere / to remain] Describes rights or assets which remain behind after others are disposed of. Examples: A residuary bequest is a bequest of that part of an estate which is

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