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full-faith-and-credit bond- See general-obligation bond under BOND (3).

fullied See FULLY COMMITTED FOR TRIAL.

full-paid stock Stock on which no further payments can be demanded by the issuing company. - Also termed paid-up stock.

full-paid stock See STOCK.

full-reporting clause 1. Insurance. An insurance-policy clause that requires the insured to reveal values and that penalizes the insured if the insured revealed less than required in the policy application. Also termed honesty clause. 2. An insurance-policy clause providing that the indemnity will not exceed the proportion of the loss that the last reported value bears to the actual value.

full-service lease See LEASE.

fully administered A plea by an executor or administrator that he or she has completely and legally disposed of all the assets of the estate and that the estate has no remaining assets from which a new claim could be satisfied.

fully committed for trial adj. English law. (Of a person) qualified to be indicted, arraigned, and tried. Historically, a defendant went through two hearings that were essentially minitrials to determine whether the evidence against the defendant was sufficient to support the charges. If the hearing magistrate decided there was, then the defendant was fully committed for trial. In modern usage, it means only that the defendant has had at least two bail hearings and has not yet been indicted. Often shortened to fully committed. Formerly also termed (in slang) fullied.

fully diluted earnings per share A corporation's net income assuming that all convertible securities had been transferred to common equity and all stock options had been exercised divided bv the number of shares of the corporation's outstanding common stock.

fully diluted earnings per share- See EARNINGS PER SHARE.

fully funded 1. Having sufficient financial resources to meet current payments, even upon bankruptcy <the company's pension plan was fully funded>. 2. Having completely satisfied a funding requirement; paid <the construction loan was fully funded>. - Also termed funded.

fully managed fund See MUTUAL FUND.

fully met See ANTICIPATED.

fully paid face-amount certificate See face-amount certificate (2) under CERTIFICATE.

function 1. Activity that is appropriate to a particular business or profession <a court's function is to administer justice>. 2. Office; duty; the occupation of an office <presidential function>.

functional analog See ANALOG.

functional depreciation Depreciation that results from the replacement of equipment that is not yet worn out but that is obsolete in light of new technology or improved methodology allowing more efficient and satisfactory production.

functional depreciation- See DEPRECIATION.

functional discount 1. A supplier's price discount given to a purchaser based on the purchaser's role (such as warehousing or advertising) in the supplier's distributive system. This type ofdiscount typically reflects the value of services performed by the purchaser for the supplier. If a functional discount constitutes a reasonable reimbursement for the purchaser's actual marketing functions, it does not constitute unlawful price discrimination and does not violate antitrust laws. 2. A supplier's price discount based on the purchaser's relative distance from the supplier in the chain of distribution.o For example, a wholesaler or distributor usu. receives a greater discount than a retailer.

functional discount- See DISCOUNT.

functional disease A disease that prevents, obstructs, or interferes with an organ's special function, without anatomical defect or abnormality in the organ itself.

functional disease- See DISEASE.

functional feature A design element that is either physically necessary to construct an article or commercially necessary to manufacture and sell it; a product's attribute that is essential to its use, necessary for its proper and successful operation, and utilitarian rather than ornamental in every detail. - A functional feature is not eligible for trademark protection.

functional limitation In a patent application, the definition of an invention by what it does rather than what it is. A functional limitation is not inherently invalid, but it is examined closely because it tends to be too broad, claiming every possible way of doing the same thing. MPEP 2173.05(g).

functional obsolescence Obsolescence that results either from inherent deficiencies in the property, such as inadequate equipment or design, or from technological improvements available after the use began. Cf. economic obsolescence.

functional obsolescence See OBSOLESCENCE.

functional rejection See REJECTION.

functional rejection Rejection of a patent claim on the grounds that it broadly claims a function but does not disclose enough structure to account for achieving that function. Cf. FUNCTIONAL LIMITATION.

functionality The quality of having a shape, configuration, design, or color that is so superior to available alternatives that giving the first user exclusive trademark would hinder competition.

functionary A public officer or employee.

functus officio (fangk-tas-a-fish-ee-oh). [Latin "having performed his or her office"], (Of an officer or official body) without further authority or legal competence because the duties and functions of the original commission have been fully accomplished. The term is sometimes abbreviated to functus <the court was functus>.

fund 1. A sum of money or other liquid assets established for a specific purpose <a fund reserved for unanticipated expenses>.

fund- 1. To furnish money to (an individual, entity, or venture), esp, to finance a particular project. 2. To use resources in a manner that produces interest. 3. To convert (a debt, esp, an open account) into a longterm debt that bears interest at a fixed rate.

fund in court 1. Contested money deposited with the court. See INTERPLEADER. 2. Money deposited to pay a contingent liability.

fund in court- See FUND (1).

fundamental error See plain error.

fundamental error- See plain error under ERROR (2).

fundamental interest See FUNDAMENTAL RIGHT.

fundamental law The organic law that establishes the governing principles of a nation or state; esp" CONSTITUTIONAL LAW, - Also termed organic law; groundlaw, Cf. NATURAL LAW.

fundamental right 1. A right derived from natural or fundamental law, 2. Constitutional law, A significant component ofliberty, encroachments of which are rigorously tested by courts to ascertain the soundness of purported governmental justifications. A fundamental right triggers strict scrutiny to determine whether the law violates the Due Process Clause or the Equal Protection Clause of the 14th Amendment. As enunciated by the Supreme Court, fundamental rights include voting, interstate travel, and various aspects of privacy (such as marriage and contraception rights), - Also termed fundamental interest. See STRICT SCRUTINY, Cf. SUSPECT CLASSIFICATION.

fundamental right See FUNDAMENTAL RIGHT.

fundamental term See TERM (2).

fundamental trend See major trend under TREND.

fundamental-fairness doctrine The rule that applies the principles of due process to a judicial proceeding. The term is commonly considered synonymous with due process,

fundamental-miscarriage-of-justice exception The doctrine allowing a federal court in a habeas corpus proceeding to address a claim of constitutional error that, although ordinarily unreviewable, is subject to review because of a state-court procedural default that rendered the proceedings basically unfair. For the exception to apply, among other things, the petitioner must show by a preponderance of the evidence that constitutional error resulted in the conviction of one who is actually innocent. If the defaulted claim applies only to sentencing, the exception permits review of the claim if the petitioner shows by clear and convincing evidence that, but for the constitutional error, no rea sonable judge or jury would have imposed the sentence that the petitioner received.

fundatio (fan-day-shee-oh). [Latin "founding" or "foundation"]. The founding of a corporation, particularly an eleemosynary corporation,

fundatio incipiens (fan-day-shee-oh in-sip-ee-enz), [Latin "incipient foundation"]. The incorporation or grant of corporate powers,

fundatio perficiens (fan-day-shee-oh par-fish-ee-enz), [Latin "perfecting foundation"], The endowment or gift of funds to a corporation.

funded See FULLY FUNDED.

funded debt 1. A state or municipal debt to be paid out of an accumulation of money or by future taxation. 2. Secured long-term corporate debt meant to replace short-term, floating, or unsecured debt.

funded debt- See DEBT,

fundi publici (fan-di pab-la-si), [Latin], Public lands,

funding 1. The process of financing capital expenditures by issuing long-term debt obligations or by converting short-term obligations into long-term obligations to finance current expenses; the process of creating a funded debt. 2. The refinancing of a debt before its maturity. - Also termed refunding, 3. The provision or allocation of money for a specific purpose, such as for a penSion plan, by putting the money into a reserve fund or investments. 4. The provision of financial resources to finance a particular activity or project, such as a research study,S. The transfer of property to a trust.

fundo annexa (fan-doh a-nek-sa). [Latin], Things annexed to the soil.

funds transfer A payment of money from one person or entity to another; esp., the process by which payment is made through a series of transactions between computerized banking systems, beginning with an originator's payment order and ending when a final payment order is received by the beneficiary's bank. Commercial or wholesale funds transfers are governed by Article 4A of the UCC. Consumer funds transfers are regu lated by the federal Electronic Fund Transfer Act (15 USCA §§ 1693 et seq,). Also termed (specif,) elec tronicfunds transfer (EFT).

fundus (fan-das), [Latin "land"]. 1. Land or ground in general, without consideration of its specific use, 2. A farm,

fundus emphyteuticarius (fan-das em-fa-tyoo-ti-kair-ee-as). Civil law. Land held under a hereditary leasehold. See EMPHYTEUSIS.

fundus instructus (fan-das in-strak-tas). [Latin]. Land already provided with certain necessaries.

fundus patrimonialis (fan-das pa-tra-moh-nee-ay-lis). [Latin], Roman law. Land belonging to the patrimonium principis (that is, property belonging to the emperor as such).

funeral expense (usu. pi.) An expense necessarily and reasonably incurred in procuring the burial, cremation, or other disposition of a corpse, including the funeral or other ceremonial rite, a casket and vault, a monument or tombstone, a burial plot and its care, and a visitation (or wake).

funeral expense- See EXPENSE.

fungibiles res (fan-jib-a-leez reez). [Latin], Civil law. Fungible things.

fungible (fan-ja-bal), adj. Commercially interchangeable with other property of the same kind <corn and wheat are fungible goods, whereas land is not>. fungible, n.

fungible goods See GOODS.

fungible goods- (fan-ja-bAl). Goods that are interchangeable with one another; goods that, by nature or trade usage, are the equivalent of any other like unit, such as coffee or grain. UCC § l-201(b)(l8).

fur (far), n. [Latin], Roman law. A thief.

fur famosus (far fa-moh-sas). [Latin]. Scots law. A reputed thief.

fur manifestus (far man-a-fes-tas). [Latin "manifest thief"], Roman law. A thief caught in the act of stealing. AJur manifestus could be put to death on the spot in either of two circumstances: (1) if the theft occurred at night, or (2) if the thief used a lethal weapon against the person who discovered the crime. Apart from this, the manifest thief was liable to pay the owner four times the value of the stolen property. Also termed manifest thief

furandi animus (fyuu-ran-di an-a-mas). See animus furandi under ANIMUS.

furca (far-ka), n. [Latin "fork"], Roman law. An instrument of punishment with two prongs to which the arms are tied. In England,furca became another name for gallows.

furca et flagellum (far-ka et fla-jel-am). [Law Latin]. Gallows and whip. This referred to the basest of servile tenures the tenant was completely at the mercy of the lord.

furca etfossa (far-ka et fahs-a). [Law Latin]. Gallows and pit. This phrase was used in ancient grants of criminal jurisdiction for punishing felons: hanging for men and drowning for women.

furian caninian law See LEX FURIA CANINIA.

furigeldum (fyar-a-jel-dam). [Law Latin fur "theft" + geldum "payment"]. A fine paid for theft.

furlong (far-Iawng). One-eighth of a mile, or forty rods. Also termed Jerlingus; Jerlingum.

furlough (far-loh). 1. A leave of absence from military or other employment duty. 2. A brief release from prison. See study release under RELEASE. furlough, vb.

furor brevis See HEAT OF PASSION.

furta (far-ta). A right or privilege from the monarch to try, condemn, and execute criminals within a jurisdiction.

further advance 1. A second or later loan to a mortgagor by a mortgagee, either on the same security as the original loan or on an additional security. 2. Equity practice. The agreed conversion of arrears of interest on a mortgage security into principal.

further assurance A covenant, usu. contained in a warranty deed, whereby the grantor promises to execute any document that might be needed in the future to perfect the title that the original instrument purported to transfer.

further assurance- See ASSURANCE.

further instruction See additional instruction.

further instruction See additional instruction under JURY INSTRUCTION.

further-exploration covenant Oil & gas. In an oil-andgas lease, an implied promise that once production has been obtained from the leased property, the lessee will continue to explore other parts of the property and other formations under it. Some jurisdictions hold that the covenant for further exploration does not exist independently of the covenant for reasonable development. See also REASONABLE-DEVELOPMENT COVENANT; REASONABLY-PRUDENT-OPERATOR STANDARD.

furtum (far-tam), n. [Latin "theft") Roman law. 1. The offense of stealing movable property. Under Roman law,furtum included not only the taking of another's property, but any handling of the property done with the intent of profiting by it. Furtum was not only a private wrong (delictum) prosecuted by the person suffering the loss. Cf. PECULATUS. 2. The thing stolen.

furtum conceptum (far-tam kan-sep-tam). [Latin], Roman law. A theft in which someone is discovered in possession of stolen property after a search with witnesses. The possessor was liable to pay the owner three times the value of the stolen property. The possessor could bring an action against the thief and recover triple damages.

furtum grave (far-tam gray-vee or grah-vay). Scots law. An aggravated degree of theft that, in ancient times, was punishable by death.

furtum manifestum (far-tam man-a-fes-tam). [Latin "open theft"], Roman law. A theft in which the thief is caught in the act. A theft was "manifest" if the thief was caught on the day of the theft with the stolen property before reaching the place where he intended to take it. Fourfold damages were available by means of actio Jurti. (See actio furti under ACTIO.) A theft other than this type was known as furtum nec manifestum.

furtum oblatum (far-tam a-blay-tam). [Latin "offered theft"], Roman law. 1. A theft in which the thief offers stolen property to a person who is then found with the goods. "The person found in possession of the stolen goods could bring an action against the true thief 2. The planting of stolen goods.

furtum possessionis (far-tam pa-zes[h]-ee-oh-nis). [Latin "theft of possession"], Roman law. The owner's dishonest removal of a thing from the control of a pledgee, a bona fide possessor, a commodatary with a lien, or a usufructuary.

furtum rei (far-tam ree-i). [Latin "theft of a thing"]. Roman law. Ordinary theft, involving the dishonest taking of something to which the taker had no right.

furtum usus (far-tam yoo-sas oryoo-zas). [Latin "theft of the use of a thing"] Roman law. 1. A bailee's dishonest use of the thing bailed or lent. 2. A creditor's dishonest use of a pledge (pignus) without contractual authority.

fusian caninian law See LEX FURIA CANINIA.

fustigation (fas-ti-gay-shan), 1. The beating of someone with a stick or club. 2. Harsh criticism. fustigate, vb.

fustis (gas-tis). 1. A staff used in making livery of seisin. 2. A baton or club.

FUTA abbr. See FEDERAL UNEMPLOYMENT TAX ACT.

futhwite (footh-wit). A fine for fighting or breaking the peace. - Also termed fithwite.

future advance Money secured by an original security agreement even though it is lent after the security interest has attached.

future consideration 1. Consideration to be given in the future; esp., consideration that is due after the other party's performance. 2. Consideration that is a series of performances, some of which will occur after the other party's performance. 3. Consideration the specifics of which have not been agreed on between the parties. Cf. past consideration.

future consideration- See CONSIDERATION (1).