Latin for Lawyers

L ATIN FOR L AWYERS

party to perform the terms and obligations owing by him. In the sale of goods, a tender of delivery is notice by the seller to the buyer that he is hold ing goods at the disposition of the buyer and requesting instructions as to the time, mode and place of delivery. A tender offer by an investor is a public offer to purchase the stock of a target corporation, usually at a premium price and in an effort to take control of the corporation. TENEMENT [L. teneo , tenere / to occupy] A residence, especially a multi-family structure. Also any interest or estate in land or in property attached to land. More loosely, any tangible property or interest in property. TENENDUM CLAUSE [L. teneo , tenere / to hold + claudo , claudere , clausum / to close] A clause used in deeds to set forth the nature of the estate or interest con veyed by the grantor to the grantee. TENTATIVE, TENTATIVE MINIMUM TAX, TENTATIVE TRUST [L. tempto , temptare / to prove, try, test] Existing in an unfinished or incomplete state. Not fully realized or developed. Hesitant. Uncertain. Waiting to be finished. The tentative minimum tax is a calculation under the Internal Revenue Code comparing a person’s income tax as regularly computed with the alternative minimum tax as defined in the Code. A tentative trust is another name for a Totten Trust, i.e., a bank account by one person in trust for another; a Totten Trust is controlled by the deposi tor and is revocable by him at any time until his death, at which point it passes to the benificiary directly, without the need for estate administration. TENURE [L. teneo , tenere / to hold, to preserve] The manner or the terms under which property or a title or an office is held; also, the act of holding property or office. The conditions, i.e., term, nature of title, degree of ownership, under which property or office is held. Also, the status of teachers or office-holders following a probationary or trial period which entitles them to remain in office free of the threat of dismissal except for incompetence or misconduct. TERM [L. terminus / boundary, limit] The length of time during which something lasts. The period during which an interest or estate survives or is effective. Also, the interest or estate itself. A session of court. An esssential element or part of an agreement, or a will, or a deed, or any other document having legal effect and consequence. A word or phrase which conveys a decipherable and precise meaning in the context or circumstance in which it is used. The divisions of a school year. The length of

415