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financial restatement A report correcting material errors in a financial statement, esp. to adjust profits and losses after an accounting procedure has been disallowed.

financial secretary 1. An officer in charge of billing, collecting, and accounting for dues from the members. 2. TREASURER.

financial secretary 1. See SECRETARY. 2. See TREASURER.

financial services agency The regulatory body that oversees the United Kingdom's financial-services industry, including exchanges and related entities. Formerly termed Securities and Investment Board.

financial statement See FINANCIAL STATEMENT.

financial statement 1. A balance sheet, income statement, or annual report that summarizes an individual's or organization's financial condition on a specified date or for a specified period by reporting assets and liabilities. Also termed financial report. Cf. FINANCING STATEMENT.

financial-core membership Union membership in which a private-company employee pays the union's initiation fees and periodic dues but is not a full union member. Financial-core membership is allowed only in states without a right-to-work law, where a unionsecurity contract clause can require employees to pay financial-core membership dues but cannot require full union membership. The dues are limited to the amount required to support the union's representational activities, such as collective bargaining. See Communications Workers ofAm. v. Beck, 487 U.S. 735, 744, 108 S.Ct. 2641, 2648 (1988). - Also termed (in public-employment sector) fair-share membership; agency-shop membership. See UNIO!\I-SECURITY CLAUSE.

financial-responsibility act A state statute conditioning license and registration of motor vehicles on proof of insurance or other financial accountability.

financial-responsibility clause Insurance. A provision in an automobile insurance policy stating that the insured has at least the minimum amount ofliability insurance coverage required by a state's financialresponsibility law.

financials Financial statements.

financing 1. The act or process of raising or providing funds. 2. Funds that are raised or provided. finance, vb.

financing agency A bank, finance company, or other entity that in the ordinary course of business (1) makes advances against goods or documents of title, or (2) by arrangement with either the seller or the buyer intervenes to make or collect payment due or claimed under a contract for sale, as by purchasing or paying the seller's draft, making advances against it, or taking it for collection, regardless of whether documents of title accompany the draft. VCC § 2-102(a) (20).

financing agency- See AGENCY (1).

financing statement A document filed in the public records to notify third parties, usu. prospective buyers and lenders, of a secured party's security interest in goods or real property. See UCC § 9-102(a)(39). Cf. FINANCIAL STATEMENT.

FinCEN abbr. FINANCIAL CRIMES ENFORCEMENT NETWORK.

find vb. (bef. 12c) To determine a fact in dispute by verdict or decision <find guilty> <found that no duty existed>. Cf. HOLD (2).

finder 1. An intermediary who brings together parties for a business opportunity, such as two companies for a merger, a borrower and a financial institution, an issuer and an underwriter of securities, or a seller and a buyer of real estate .o A finder differs from a broker-dealer because the finder merely brings two parties together to make their own contract, while a broker-dealer usu. participates in the negotiations. See INTERMEDIARY. 2. A person who discovers an object, often a lost or mislaid chattel.

finder of fact See FACT-FINDER.

finder's fee 1. The amount charged by one who brings together parties for a business opportunity. 2. The amount charged by a person who locates a lost or missing item and returns it to its owner.

finder's-fee contract An agreement between a finder and one of the parties to a business opportunity.

finding See FINDING OF FACT.

finding of fact A determination by a judge, jury, or administrative agency of a fact supported by the evidence in the record, usu. presented at the trial or hearing <he agreed with the jury's finding of fact that the driver did not stop before proceeding into the intersection>. Often shortened to finding. See FACT-FINDER. Cf. CONCLUSION OF FACT; CONCLUSION OF LAW.

fine 1. An amicable final agreement or compromise of a fictitious or actual suit to determine the true possessor of land. The fine was formerly used as a form of conveyance to disentail an estate. - Also termed final concord ;finalis concordia. See FOOT OF THE FINE. "A peculiar and persistent use of the writ [of covenant] was in levying a fine. A fine finalis concordia was the compromise of a suit, settled upon terms approved by the court, The dispute, while it might be a reality, was more often fictitious, and was chiefly used as a means of conveying land .... Soon after [Glanvill's] book was written, an innovation was made in the procedure which endured until 1833. The terms of the compromise, agreed by the parties and approved by the judges, were entered upon a threefold indenture, one of the parts being given to each of the litigants and the third the 'foot' or bottom of the document being kept among the records of the court. The parties thus obtained incontestable evidence and abundant security, and either could sue the other if the agreement were not implemented." C.H.S. Fifoot, History and Sources of the Common Law: Tort and Contract 256 (1949). "Unlike the recovery, which was a real action, the fine was a compromised fictitious personal action, originally designed as a method of ensuring security in conveyancing and only later being employed for the purpose of barring estates tail. In outline, it operated in the following manner, The intending purchaser brought an action, begun by writ of covenant, against the intending vendor. The parties then applied to the court to compromise the action; by the terms of the compromise (finis) the intending vendor admitted that the land belonged to the intending purchaser because he had given it to him, and the terms of the compromise were recorded in the court records.

fine annullando leva to de tenemento quod fuit de antiquo dominico (fi-nee a-na-lan-doh la-vay-to dee ten-a-men-toh kwod fyoo-it dee an-ti-kwoh da-min-a-koh). [Latin "a fine to be annulled levied from a tenement which was of ancient demesne"]. A writ for disannulling a conveyance ofland in ancient demesne to the lord's prejudice.

fine and recovery act An English statute, enacted in 1833, that abolished the use of fines as a method of conveying title to land. 3 & 4 Will. 4, ch. 74. See FINE (1).

fine capiendo pro terris (fi-nee kap-ee-en-doh proh ter-is). [Latin "a fine to be taken for lands"]. A writ that an imprisoned felon could use in some circumstances to obtain release from jail and to recover lands and goods taken during imprisonment.

fine for alienation A fee paid by a tenant to the lord upon the alienation of a feudal estate and substitution of a new tenant. It was payable by all tenants holding by knight's service or tenants in capite by socage tenure. Often shortened to fine.

fine for endowment A fee paid by a widow of a tenant to the tenant's lord. If not paid, the widow could not be endowed of her husband's land.

fine non capiendo pro pulchre placitando (fi-nee non kap-ee-en-doh proh pal-kree plas-a-tan-doh). [Latin "a fine not to be taken for pleading fairly"]. A writ prohibiting court officers from taking fines for fair pleading (i.e., beaupleader).

fine print The part of an agreement or document usu. in small, light print that is not easily noticeable referring to disclaimers, restrictions, or limitations.

fine pro redisseisina capiendo (fi-nee proh re-dis-see-zin-a kap-ee-en-doh). [Law Latin "a fine to be taken for again disseising"]. A writ that entitled a person imprisoned for twice dispossessing someone (redisseisin) to release upon payment of a reasonable fine.

fine sur cognizance de droit tantum (fin sar kon-a-zants da droyt tan-tam). [Law French "fine upon acknowledgment of the right merely"]. A fine of conveyance that does not acknowledge a prior conveyance of land. - This type of fine was used to convey reversionary interests that is, interests that did not require acknowledgment ofan earlier livery of seisin. See FINE (1).

fine sur cognizance de droit, comme ceo que il ad de son done (fin sar kon-a-zants da droyt, kom say-oh kweel ad da sawn dawn). [Law French "a fine uponacknowledgment of the right, as that which he has of his gift"]. The most common fine of conveyance, by which the defendant (also called the deforciant) acknowledged in court that he had already conveyed the property to the cognizee. This form ofconveyance took the place of an actual livery of seisin. See FINE (1). "But, in general, the first species of fine, 'sur cognizance de droit come ceo, etc.,' is the most used, as it conveys a clean and absolute freehold, and gives the cognizee a seisin in law, without an actual livery; and is therefore called a fine executed, whereas the others are but executory." 2 William Blackstone, Commentaries on the Laws of England 353 (1766).

fine sur concessit (fin sar kan-ses-it). [Law French]. A species of conveyance in which the cognizor does not acknowledge the cognizee's preceding right in land but grants the cognizee an estate de novo, usu. for life or a term of years, by way of supposed composition. See FINE (1).

fine sur done, grant et render (fin sar dawn, grant ay ren-dar). [Law French "fine upon gift, grant and render"]. A double conveyance, consisting of a fine sur cognizance de droit come ceo que il ad de son done and a fine sur concessit, used to convey particular limitations of estates. For example, after acknowledgment of the cognizee's right in the land, the cognizee would grant back to the cognizor or a third party some other estate in the land. See FINE (1).

finem facere (fi-nam fay-sq-ree). [Latin]. 1. To make a composition or compromise; to relinquish a claim in exchange for consideration. "In the thirteenth century the king's justices wield a wide and a 'common law' power of ordering that an offender be kept in custody. They have an equally wide power of discharging him upon his 'making fine with the king.' We must observe the language of the time. In strictness they have no power to 'impose a fine.' No tribunal of this period, unless we are mistaken, is ever said to impose a fine. To order the offender to pay so much money to the king - this the judge may not do. If he did it, he would be breaking or evading the Great Charter, for an amercement should be affeered, not by royal justices, but by neighbours of the wrong·doer. What the judges can do is this: they can pronounce a sentence of imprisonment and then allow the culprit to 'make fi ne,' that is to make an end (finem facere) of the matter by paying or finding security for a certain sum of money. In theory the fine is a bilateral transaction, a bargain; it is not 'imposed,' it is 'made.'" 2 Frederick Pollock & Frederic W. Maitland, The History of English Law Before the Time of Edward I 517 (2d ed. 1899). 2. To make a settlement of a penalty. - Magna Carta (ch. 55) specifically limited "[a]lI fines which were made with us unjustly and contrary to the law of the land ..." (Omnes fines qui injuste et contra legem terrae facti sunt nobiscum).

fines Ie roy (finz- la roy). [Law French]. The king's fines. A fine or fee that was paid to the monarch for an offense or contempt.

finger To identify (a person) as a perpetrator, usu. of a crime <in his grand-jury testimony, Vinson fingered Bauer as the gunman>.

finger pillory A miniature stock used to confine the fingers of a person who misbehaved during church services.

finger pillory See PILLORY.

fingerprint 1. The distinctive pattern of lines on a human fingertip <no two fingerprints are identical>. 2. The impression of a fingertip made on any surface <the detective found several fingerprints on the knife>. 3. An ink impression of the pattern of lines on a fingertip, usu. taken during the booking procedure after an arrest <after Dick had his fingerprints taken, he was put in the drunk tank>. - Also termed print; thumbprint. Cf. DNA IDENTIFICATION. fingerprint, vb. fingerprinting, n.

fingerprint claim See PATENT CLAIM.

fingerprint claim A chemical-patent claim that differentiates the material from prior art in terms of some physical feature, such as melting point or spectrum, rather than its chemical composition. Fingerprint claims are allowed only when the chemical composition cannot be determined or cannot be distinguished from prior art.

finire (fi-nI-ree), vb. [Law Latin]. 1. To fine; to pay a fine. 2. To end or finish a matter.

finis (fi-nis or fin-is). [Latin]. 1. Boundary or limit. 2. The compromise of a fine of conveyance. See FINE (1). "The parties then applied to the court to compromise the action; by the terms of the compromise (finis) the intending vendor admitted that the land belonged to the intending purchaser because he had given it to him, and the terms of the compromise were recorded in the court records." Peter Butt, Land Law 102 (2d ed. 1988). 3. A fine, or payment of money made to satisfy a claim of criminal penalty.

FIOS abbr. Free in and out stowed. This bill-of-lading term means that the shipper supervises and pays for loading, unloading, and stowing.

firdfare See FERDFARE.

fire To discharge or dismiss a person from employment; to terminate as an employee.

fire insurance An agreement to indemnify against property damage caused by fire, wind, rain, or other similar disaster.

fire insurance See DISURANCE.

fire ordeal See ordeal by fire under ORDEAL.

fire sale 1. A sale of merchandise at reduced prices because offire or water damage. 2. Any sale at greatly reduced prices, esp. due to an emergency.Fire sales are often regulated to protect the public from deceptive sales practices.

fire sale See SALE.

firearm A weapon that expels a projectile (such as a bullet or pellets) by the combustion of gunpowder or other explosive.

firebote See housebote.

firebote- See housebote under BOTE (1).

firebug See INCENDIARY (I).

firefighter's rule A doctrine holding that a firefighter, police officer, or other emergency professional may not hold a person, usu. a property owner, liable for unintentional injuries suffered by the professional in responding to the situation created or caused by the person. Also termed fireman's rule.

fireman's rule See FIREFIGHTER'S RULE.

firing squad 1. A group of persons assembled to carry out a capital-punishment sentence by shooting the prisoner with high-powered rifles at the same time from a short distance. 2. A military detachment that fires a salute, usu. during the burial ceremony for the person being honored.

firm 1. The title under which one or more persons conduct business jointly. 2. The association by which persons are united for business purposes. Traditionally, this term has referred to a partnership, as opposed to a company. But today it frequently refers to a company. See LAW FIRM.

firm bid A bid that, by its terms, remains open and binding until accepted or rejected . A firm bid commonly contains no unusual conditions that might defeat acceptance.

firm bid- See BID (2).

firm offer See irrevocable offer under OFFER.

firm opportunity A law-firm lawyer's opportunity to profit individually from a venture from which the firm might benefit, as opposed to the individual lawyer, and as to which the lawyer must therefore defer to the firm and turn over any income to the firm.

firma [Latin], 1. A lease. 2. A corporation or partnership.

firma burgi (far-ma bar-ji). [Law Latin "the farm of the borough"]. A person's right to take the profits of a borough. The monarch or the borough's lord granted this right to a person upon payment of a fixed sum.

firma feodi See FEE FARM.

firma noctis See NOCTEM DE FIRMA.

firma social (feer-mah soh-syahl). [Spanish], Spanish law. An officially registered name of a corporation or partnership.

firmarius (far-mair-ee-as). [Law Latin], A person entitled to take rent or profits. Cf. FERMER (2).

firm-commitment underwriting See UNDERWRITING.

firme See FARM.

firm-opportunity doctrine See CORPORATE-OPPORTUNITY DOCTRINE.

first amendment The constitutional amendment, ratified with the Bill of Rights in 1791, guaranteeing the freedoms of speech, religion, press, assembly, and petition.

first cause See proximate cause.

first cause- See proximate cause under CAUSE (1).

first chair The lead attorney in court for a given case <despite having worked at the firm for six years, the associate had yet to be first chair in a jury trial>. - first-chair, vb.

first cousin See COUSIN (I).

first cousin- See COUSIN (1).

first devisee The first devisee deSignated to receive an estate under a will.

first devisee- See DEVISEE.

first fruits 1. One year's profits from the land of a tenant in capite, payable to the Crown after the tenant's death. - Also termed primer seisin. 2. Eccles. law. The first year's whole profits of a clergyman's benefice, paid by the incumbent to the Pope, or (after the break with Rome) to the Crown. This revenue was later termed "Queen Anne's Bounty" when it was converted to a fund to benefit the poor. - Sometimes written firstfruits. - Also termed primitiae; primitive; annates; annats; Queen Anne's Bounty.

first impression, case of See CASE.

first instance, court of See trial court under COURT.

first lien See LIEN.

first Lord of the admiralty In Britain, a minister and one of the lord commissioners who presided over the navy. The First Lord was assisted by other lords, called Sea Lords, and various secretaries.

first Lord of the treasury English law. The chief officer in charge of the treasury .o Today, this position is held by the Prime Minister.

first magistrate See MAGISTRATE (1).

first meeting Archaic. Criminal law. The first contact between a killer and a victim after the killer has been informed of the victim's insulting words or conduct that provoked the killing. If the killing occurred during the first meeting, a murder charge could be reduced to manslaughter. See HEAT OF PASSION.

first meeting of creditors See creditors' meeting under MEETING.

first mortgage See MORTGAGE.

first name See personal name under NAME.

first of exchange The first in a series of drafts (bills of exchange) drawn in duplicate or triplicate for safety in their delivery, the intention being that the acceptance and payment of anyone of them, usu. the first to arrive, cancels the others in the set.

first of fender See OFFENDER.

first offender A person who authorities believe has committed a crime but who has never before been convicted ofa crime. First offenders are often treated leniently at sentencing or in plea negotiations.

first office action See OFFICE ACTION.

first Office action A patent examiner s initial reply to a patent application. If the examiner s first report is a rejection of all or most of the application s claims, it is termed a shotgun rejection. To avoid abandoning the prosecution, the applicant must respond by answering the examiner s reasons for rejection, amending the claims, or both. Cf. final office action.

first option to buy See RIGHT OF PREEMPTION.

first policy year The first year of a lifeinsurance policy that is to be automatically renewed annually. This statutory phrase prohibits an insurer from using the policy's suicide exclusion as a defense and refusing payment on the policy when an insured commits suicide after the first year of the policy. The insurer can invoke the suicide exclusion as a defense to payment only if the insured commits suicide in the first policy year.