Term | Definition |
---|---|
Kangaroo court | Term descriptive of a sham legal proceeding in which a person's rights are totally disregarded and in which the result is a foregone conclusion because of the bias of the court or other tribunal. |
Kentucky rule | In the allocation of dividents by trustees as between income and principal, all dividends whether paid in cash or stock are regarded as income through in most jurisdictions accepting this rule a dividend paid in the stock of the issuing corporation is considered principal and brings about an adjustment in the basis of such stock in the portfolio. |
Kissing the book | he ceremony of touching the lips to a copy of the Bible, used in administering oaths. It is the external symbol of the witness' acknowledgement of the obligation of the oath. |
Knowingly and willfully | This phrase, in reference to violation of a statute, means consciously and intentionally. |