Latin for Lawyers

REUS, REA

REUS, REA [L. any party to a law suit; plaintiff or defendant] Originally, any party to litigation. Later, the word came to mean the defen dant, especially one accused of crime. See MENS REA REVENUE [L. re + venio , venire / to come] The total or gross receipts from a given source (of income). Return on invest ments or labor. The total yield to a governmental authority from a tax, bond sale or other source of public funds. The gross receipts of a business from the sale of its products or services. A revenue bill is a legislative act designed for the raising of public funds; federal revenue bills must originate in the House of Representatives. The Internal Revenue Code is the entire body of statutory law under which all federal taxation is controlled and collected. A revenue ruling is a formal statement by the IRS of its interpretation of the application of a particular tax provision to a class of transactions. Revenue stamps are a tax on real estate transactions levied by the states, evidenced by stamps in varying amounts affixed to the conveyance instruments. REVERSE, REVERSAL [L. reverto , revertere / to turn back, go back] To turn back or around; to overthrow, annul, set aside. To side aside a deci sion. The publication by an appellate court of a decision, decree or judgment which is contrary in effect and/or result to the decision of the lower court. A reverse mortgage is a mortgage under which the equity in a home is distrib uted in annual installments to the homeowner until his death, as a means of providing him with income. Reverse discrimination occurs when a statute or policy intended to vitiate the effects of past discrimination on one group or race has the effect, instead, of resulting in discrimination against another group. A reverse stock split is the process by which a corporation calls back all outstanding shares of a particular class and replaces them with fewer shares, each having a greater value than before. Reversible error is a defec tive ruling or decision by a lower court which will warrant a reversal on appeal. REVERT, REVERSION [L. revertere / to return] To go back or return to a prior state or condition. To fall back to a more prim itive, less advanced state. To return or be returned to a former owner. A rever sion is that part of the entire interest of a holder which is left after he has transfered less than the whole to someone else. Example: “I hereby convey a life interest in Blackacre to B”; if I hold the fee in Blackacre, I have conveyed a life estate to B and I retain a reversion , which will become possessory in me or my heirs when B dies. During B’s life, I have a reversionary interest in Blackacre. See REMAINDER for a discussion of the differences between a reversion

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