Simple English definitions for legal terms
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Definition: Exclusion A refers to an item of income that is excluded from gross income or a provision in an insurance policy that excludes certain events or conditions from coverage.
Examples:
The examples illustrate how exclusion A can refer to different types of exclusions in different contexts. In tax law, it refers to income that is excluded from gross income, while in insurance policies, it refers to provisions that exclude certain events or conditions from coverage. The examples also show how specific types of exclusions work, such as the annual exclusion for gift income, the expected/intended exclusion for liability insurance, and the pollution exclusion for environmental damage.