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Simple English definitions for legal terms
residual
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A quick definition of residual:
Residual means something that is left over or remaining after something else has been used or taken away. For example, if you eat a pizza and there are a few slices left, those slices are the residual pizza. Residual can also refer to a fee paid to a composer or performer for each time their work is shown on TV. Additionally, residual can describe a disability that remains after an illness, injury, or operation.
A more thorough explanation:
Definition: Remaining or leftover after something has been removed or taken away.
Examples:
- Residual disability: A disability that remains after an illness, injury, or operation.
- Residual claim: A claim that remains after other claims have been settled.
- Residual value: The value of an asset at the end of its useful life.
- Residual estate: The remaining assets of an estate after specific bequests have been distributed.
- Residual fee: A fee paid to a composer or performer for each repeated broadcast of a film, program, or commercial.
These examples illustrate how something remains or is leftover after something else has been removed or taken away. For example, a residual disability is a disability that remains after an illness or injury has been treated. Residual value is the value of an asset after it has been used for its intended purpose. Residual estate is the remaining assets of an estate after specific bequests have been distributed.