I words Flashcards
ImpliedAgency
Agencythatexistsasaresultofactionsoftheparties.
ImpliedContract
Anagreementthathasnotbeenputintowords,butisimpliedbytheactionsofthe parties.
IncomeApproach
Oneofthethreemethodsoftheappraisalprocessgenerallyappliedtoincome producingproperty,andinvolvesathree‐stepprocess–(1)findnetannualincome,(2)setan appropriatecapitalizationrateor“presentworth”factor,and(3)capitalizetheincomedividingthenet incomebythecapitalizationrate.
IndependentContractor
Apersonwhoactsforanotherbutwhosellsfinalresultsandwhosemethods ofachievingthoseresultsarenotsubjecttothecontrolofanother.
Inflation
Anincreaseinmoneyandcreditrelativetoavailablegoodsthatresultsinhigherprices.
Injunction
Awritororderissuedunderthesealofacourttorestrainoneormorepartiestoasuitor proceedingfromdoinganactwhichisdeemedtobeinequitableorunjustinregardtotherightsof someotherpartyorpartiesinthesuitorproceeding.
InstallmentNote
Anotewhichprovidesforaseriesofperiodicpaymentsofprincipalandinterest, untilamountborrowerispaidinfull.Thisperiodicreductionofprincipalamortizestheloan.
Insurance
Acontractbetweentheinsurerandtheinsured.
IntegrativeNegotiation
Oftenreferredtoas‘win‐win’andtypicallyentailstwoormoreissuestobe negotiated.Itinvolvesanagreementprocessthatbetterintegratestheaimsandgoalsofallthe involvedpartiesthroughcreativeandcollaborativeproblemsolving.
IntercontinentalExchangeLondonInterbankOfferedRate(LIBOR)
Abenchmarkratethatsomeof theworld’sleadingbankschargeeachotherforshort‐termloans.
InterestRate
Thepercentageofasumofmoneychargedforitsuse.Rentorchargepaidforuseof money,expressedasapercentagepermonthoryearofthesumborrowed.
Interpleader
Anequitableproceedingbroughtbyathirdpartyactinginthecapacityofastakeholder whereintherearerivalclaimantstothesamemoneyand/orpropertyrequestingthecourttodetermine suchpropertiesdisposition
Intestate
Apersonwhodieshavingmadenowill,oronewhichisdefectiveinform,issaidtohavedied intestate,inwhichcasetheestatedescendstotheheirsatlawornextofkin.
IntestateSuccession
Distributionofpropertybydescentasprovidedbystatute.
InvoluntaryAlienation
Transferoftitletorealpropertyasaresultofalienforeclosuresale,adverse possession,thefilingofapetitioninbankruptcy,orcondemnationunderpowerofeminentdomainor uponthedeathofthetitleholder,totheStatewhentherearenoheirs.