Friday, November 12, 2010

Term of the Day: Abatement

1) the removal of a problem which is against public or private policy, or endangers others, including nuisances such as weeds that might catch fire on an otherwise empty lot;
2) an equal reduction of recovery of debts by all creditors when there are not enough funds or assets to pay the full amount;
3) an equal reduction of benefits to beneficiaries (heirs) when an estate is not large enough to pay each beneficiary in full.

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