13:13
i heard the group interview is really chill and I'm kinda excited to do it
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Simple English definitions for legal terms
Q.S.
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A quick definition of Q.S.:
Q.S. is an abbreviation for quarter session, which is a type of court session. If you want to learn more about it, you can look up the definition for session.
Q.T. is an abbreviation for qui tam action, which is a type of lawsuit where a private individual sues on behalf of the government.
QTIP stands for qualified-terminable-interest property. This is a type of property that can be put into a trust to provide income for a surviving spouse, while also ensuring that the property goes to other beneficiaries after the spouse's death.
A QTIP trust is a type of trust that holds QTIP property. It is often used in estate planning to provide for a surviving spouse while also controlling how the property is distributed after their death.
Qua is a Latin word that means "in the capacity of" or "as." For example, a fiduciary (someone who manages money for someone else) can be liable for fraud as an individual, but not in their capacity as a fiduciary.
A more thorough explanation:
Definition: Q.S. stands for quarter session, which is a type of court session.
Definition: Q.T. stands for qui tam action, which is a type of lawsuit brought by a private individual against someone who has committed fraud against the government.
Example: John brings a qui tam action against a company that has been overcharging the government for their services. If John wins the lawsuit, he may receive a portion of the money recovered by the government.
Definition: QTIP stands for qualified-terminable-interest property, which is a type of property that allows a surviving spouse to receive income from the property for their lifetime, while also allowing the owner to control who receives the property after the spouse's death.
Definition: A QTIP trust is a type of trust that allows a surviving spouse to receive income from the trust for their lifetime, while also allowing the owner to control who receives the trust assets after the spouse's death.
Example: Sarah creates a QTIP trust and names her husband as the income beneficiary. After her husband's death, Sarah's children will receive the trust assets. This allows Sarah to provide for her husband during his lifetime while also ensuring that her children will receive the assets after his death.
Definition: QUA is a Latin term that means "in the capacity of" or "as".
Example: The lawyer, qua lawyer, is responsible for providing legal advice to their clients. This means that the lawyer is acting in their professional capacity as a lawyer.