Read Short & Simple Definitions Of Complex Legal Terms

Being in expectation. An estate will be in abeyance when there is no one to claim it. The law does anticipate that the heir will be found and the estate will ne longer be abeyance.

1. Human Resource Management: A natural capacity of an individual to complete the task at hand. Refer to the definition of aptitude. 2. Law: The ability to agree and act upon a legal obligation.

A principle in economics that those with more wealth should pay higher taxes. This balances those with a lesser income who cannot afford to pay as much.

Refer to the definition of pay principle for clarification.

Ability to perform ensures that both parties in a transaction have the financial capacity to complete a transaction. Companies and individuals with higher credit ratings have a higher ability to perform.