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stiffening note Maritime law. A permit, issued by a customs collector to the ships master, that authorizes the receipt and loading of heavy goods necessary to ballast a vessel before the inward-bound cargo has been completely unloaded.

stifling of a prosecution An illegal agreement, in exchange for money or other benefit, to abstain from prosecuting a person.

stigma-plus doctrine The principle that defamation by a government official is not actionable as a civil-rights violation unless the victim suffers not onlv embarrassment but also the loss of a property interest (such as continued employment in a government job).

still An instrument or apparatus used for making distilled liquor or alcohol.

stillborn adj. (Of an infant) born dead. Also termed deadborn.

stillicidium (stil-a-sid-ee-am), n. [Latin fro stilla "a drop" + ,adere "to fall"] Roman law. Eavesdropping. See AQUAE IMMITTENDAE; servitus stillicidii under SERVITUS.

stilus curiae (sti-las kyoor-ee-ee). [Law Latin]. The form of court.

sting An undercover operation in which lawenforcement agents pose as criminals to catch actual criminals engaging in illegal acts.

stint 1. English law. Limitation; restriction <a right to take fish from a canal without stint can exist as a profit in gross>. "All these species, of pasturable common, may be and usually are limited as to number and time; but there are also commons without stint, and which last all the year." 2 William Blackstone, Commentaries on the Laws of Eng/and 34 (1766). 2. A specific quantity of work; the time spent performing a specific activity <he has done his stint>.

stipend (sti-pend or -pand). 1. A salary or other regular, periodic payment. 2. A tribute to support the clergy, usu. consisting of payments in money or grain.

stipendiary estate (sti-pen-dee-er-ee). An estate granted in return for services, usu. of a military kind.

stipendiary estate (sti-pen-dee-er-ee). See ESTATE (1).

stipendiary magistrate See MAGISTRATE.

stipendium (sti-pen-dee-am), n. [Latin] Roman law. A soldiers regular pay. Cf. SALARIUM.

stipes (stl-peez), n. [Latin "a trunk"]. Family stock; a source of descent or title. PI. stipites (stip-a-teez).

stipital (stip-i-tal), adj. See STIRPITAL.

stipulated authority See express authority under AUTHORITY (1).

stipulated authority See express authority.

stipulated damages See liquidated damages under DAMAGES.

stipulated damages See liquidated damages.

stipulated judgment See agreed judgment.

stipulated judgment See agreed judgment under JUDGMENT.

stipulatio (stip-ya-Iay-shee-oh), n. [Latin] Roman law. An oral contract requiring a formal question and reply, binding the replier to do what was asked. It is essential that both parties speak, and that the reply directly conforms to the question asked and is made with the intent to enter into a contractual obligation. No consideration is required. See actio ex stipulatu under ACTIO. PI. stipulationes (stip-ya-Iay-shee-oh-neez). "[I]t must be remembered that the law-forms used by the Romans had their origin in times when writing was neither easy nor common. It is not surprising, therefore, that among them a form of spoken words, a verbal contract, should hold the place which among us is occupied by written notes. This form ... stipulatio was of a very simple character, consisting only of a question asked by one party, and an answer returned by the other .... Such forms as Spondesne mihi decem aureos dare (do you engage to give me ten aurei, or gold-pieces): answer, Spondeo (I engage) ...." James Hadley, Introduction to Roman Law 210 (1881). "The oldest Roman contract was the stipulatio, an oral promise made by an answer to an immediately preceding question, with the promisor using the same verb. The contract was unilateral. Only one party, the promisor, was legally liable, and he was bound strictly by the words used." Alan Watson, Ancient Law and Modern Understanding 96 (1998).

stipulatio aquiliana (stip-ya-Iay-shee-oh a-kwil-ee¬ay-na). [Latin] Roman law. A type of stipulatio used to collect and discharge all the liabilities owed on various grounds by a single contract. "[S]tipulatio Aquiliana, a device credited to Aquilius Gallus, of Ciceros time. Where two persons with complex relations between them desired to square or simplify their accounts they could work out the items and arrive at the balance .... This balance being paid or otherwise arranged, each party would then make with the other this stipulatio, which was a comprehensive formula ... This would novate all the claims and turn them into a single promise, for an incertum. These mutual stipulations might then be released by acceptilatio." W.w. Buckland, A Manual of Roman Private Law 348 (2d ed. 1953).

stipulatio juris (stip-ya-Iay-shee-oh joor-is). [Latin "stipulatio as to the law"] The parties agreement on a question of law or its applicability The court is not bound to accept the stipulation if it is erroneous. But the parties are allowed to stipulate the law to be applied to a dispute.

stipulatio sponsalitia (stip-ya-lay-shee-oh spon-sa¬lish-ee-a). [Latin] Roman law. In early law a solemn promise by a father (paterfamilias) that his child would marry someone elses child. - In some cases, there was a penalty if the marriage did not occur. In classical and later Roman law, in which free marriage was the rule, such a promise was unentorceable because it was regarded as immoral (contra bonos mores).

stipulation (stip-ya-Iay-shan). 1. A material condition or requirement in an agreement; esp., a factual representation that is incorporated into a contract as a term <breach of the stipulation regarding payment of taxes. Such a contractual term often appears in a section of the contract called "Representations and Warranties." 2. A voluntary agreement between opposing parties concerning some relevant point; esp., an agreement relating to a proceeding, made by attorneys representing adverse parties to the proceeding <the plaintiff and defendant entered into a stipulation on the issue of iability>. A stipulation relating to a pending judicial proceeding, made by a party to the proceeding or the partys attorney, is binding without consideration. "Breach of a stipulation should not be confused with mis¬ representation, which is a false statement made before or at the time the contract is made, and which induces the contract; only if it is incorporated into the contract does it become a stipulation or term, the breach of which will entitle the injured party to pursue the usual remedies which are available where there has been a breach of a warranty or of a condition." 1 E.W. Chance, Principles of Mercantile Law 239 (P.W. French ed., 13th ed. 1950). "Stipulations with respect to matters of form and procedure serve the convenience of the parties to litigation and often serve to simplify and expedite the proceeding. In some cases they are supported by the policy of favoring compromise in order to reduce the volume of litigation. Hence they are favored by the courts and enforced without regard to consideration." Restatement (Second) of Contracts § 94 cmt. a (1979). 3. Roman law. A formal contract by which a promisor (and only the promisor) became bound by oral question and answer. _ By the third century A.D., stipulations were always evidenced in writing.

stipulation pour autrui (poor oh-troo-ee). [French "for other persons»] Civil law. A contractual provision that benefits a third party and gives the third party a cause of action against the promisor for specific performance. La. Civ. Code art. 1978. See third-party benefiCiary under BENEFICIARY.

stipulative definition A definition that, for purposes of the document in which it appears, arbitrarily clarifies a term with uncertain boundaries or that includes or excludes specified items from the ambit of the term.

stipulative definition See DEFINITION.

stipulator 1. One who makes a stipulation. 2. Civil law. The promisee in a stipulation pour autrui, accepting the promise of a benefit to a third party. See REUS STIPULANDI.

stirpal (star-pal), adj. See STIRPITAL.

stirpes (star-peez). (pI.) See STIRPS.

stirpital (star-pa-tal), adj. Of or relating to per stirpes distribution. - Also termed stipital; stirpal. See PER STIRPES.

stirps (starps), n. [Latin "stock"]. A branch of a family; a line of descent. PI. stirpes (star-peez). See PER STIRPES.

stock 1. The original progenitor of a family; a person from whom a family is descended; BRANCH (1) <George Harper, Sr. was the stock of the Harper line>. 2. A merchants goods that are kept for sale or trade <the car dealer put last years models on sale to reduce its stock>. 3. The capital or principal fund raised by a corporation through subscribers contributions or the sale of shares <Acmes stock is worth far more today than it was 20 years ago>. 4. A proportional part of a corporations capital represented by the number of equal units (or shares) owned, and granting the holder the right to participate in the companys general management and to share in its net profits or earnings <Julia sold her stock in Pantheon Corporation>. See SHARE (2). Cf. SECURITY (4).

stock acquisition See SHARE ACQUISITION.

stock association See joint-stock company under COMPANY.

stock attribution See ATTRIBUTION.

stock bailout A stock redemption in the form of a preferred stock dividend.

stock bonus plan A special type of profit-sharing plan in which the distribution of benefits consists of the employer-companys own stock.

stock certificate An instrument evidencing ownership of shares of stock. Also termed certificate of stock; share certificate.

stock control A system of inventory management by which a business maintains perpetual records of its inventory.

stock corporation A corporation in which the capital is contributed by the shareholders and divided into shares represented by certificates.

stock corporation See CORPORATION.

stock dearing The actual exchange of money and stock between buyer and seller, typically performed by a dearing corporation.

stock dearing corporation A New York Stock Exchange subsidiary that is a central agency for securities deliveries and payments between member firms.

stock dividend A dividend paid in stock expressed as a percentage of the number of shares already held by a shareholder.

stock dividend See DIVIDEND.

stock exchange See SECURITIES EXCHANGE.

stock in trade 1. The inventory carried by a retail business for sale in the ordinary course of business. 2. The tools and equipment owned and used by a person engaged in a trade. 3. The equipment and other items needed to run a business.

stock insurance company An insurance company operated as a private corporation and owned by stockholders who share in the companys profits and losses.

stock insurance company See INSURANCE COMPANY.

stock issue See ISSUE (2).

stock life-insurance company A stock insurance company that does life-insurance business.

stock life-insurance company See INSURANCE COMPANY.

stock manipulation See MANIPULATION.

stock market 1. See MARKET (5). 2. See MARKET (6).

stock merger See MERGER.

stock note See NOTE (1).

stock option See STOCK OPTION.

stock option 1. An option to buy or sell a specific quantity of stock at a deSignated price for a specified period regardless of shifts in market value during the period. 2. An option that allows a corporate employee to buy shares of corporate stock at a fixed price or within a fixed period. - Such an option is usu. granted as a form of compensation and can qualify for special tax treatment under the Internal Revenue Code. Also termed (in sense 2) employee stock option; incentive stock option (ISO).

stock power A power of attorney permitting a person, other than the owner, to transfer ownership of a security to a third party. Also termed stock/bond power.

stock redemption See REDEMPTION (3).

stock repurchase See REDEMPTION (3).

stock right See SUBSCRIPTION RIGHT.

stock sale Mergers & acquisitions. A takeover in which the acquiring corporation buys stock directly from the target corporations shareholders until it controls all or a majority of the targets stock.

stock split The issuance of two or more new shares in exchange for each old share without changing the proportional ownership interests of each shareholder. For example, a 3-for-1 split would give an owner of 100 shares a total of 300 shares, or 3 shares for each share previously owned. A stock split lowers the price per share and thus makes the stock more attractive to potential investors. Also termed share split.

stock subscription See SUBSCRIPTION (2).

stock swap In a corporate reorganization, an exchange of one corporations stock for another corporations stock. Also termed stock for-stock exchange.

stock swap See SWAP.

stock warrant See WARRANT (4).

stock/bond power See STOCK POWER.

stock-appreciation right (usu. pl.) A right, typically granted in tandem with a stock option, to be paid the option value (usu. in cash) when exercised along with the simultaneous cancellation of the option. - Abbr. SAR.

stockbroker One who buys or sells stock as agent for another. Also termed account executive; account representative.

stock-for stock exchange See stock swap under SWAP.

stock-for-assets exchange Mergers & acquisitions. A merger in which one corporation agrees to dissolve and transfers all or most of its assets to another corporation, which then distributes shares of its own stock to the dissolving corporations shareholders.

stockholder See SHAREHOLDER.

stockholder derivative suit See DERIVATIVE ACTION (1).

stockholder of record The person who is listed in the issuers books as the owner of stock on the record date. Also termed holder ofrecord; owner ofrecord; record owner. See record date under DATE.

stockholder s liability See shareholders liability under LIABILITY.

stockholders equity See OWNERS EQUITY.

stockjobber See JOBBER (2).

stockjobbing The business of dealing in stocks or shares; esp., the buying and selling of stocks and bonds by jobbers who operate on their own account. - Also termed stockjobbery.

stock-law district See DISTRICT.

stock-law district A district in which cattle or other stock are prohibited from running free.

stock-option contract A negotiable instrument that gives the holder the right to buy or sell for a specified price within a fixed time limit a certain number of shares of the corporation's stock. See STOCK OPTION.

stock-option contract See CONTRACT.

stock-parking See PARKING (2).

stock-purchase plan An arrangement by which an employer corporation allows employees to purchase shares of the corporations stock.

stock-redemption agreement An agreement between a corporations individual owners and the corporation itself, whereby the corporation agrees to purchase (Le., redeem) the stock of a withdrawing or deceased owner.Often shortened to redemption agreement. Also termed stock-retirement agreement.

stock-repurchase plan A program by which a corporation buys back its own shares in the open market, usu. when the corporation believes the shares are undervalued.

stock-retirement agreement See STOCK-REDEMPTION AGREEMENT.

stock-retirement agreement See STOCK-REDEMPTION AGREEMENT.

stocks A punishment device consisting of two boards that together form holes for trapping an offenders feet and hands. Formerly also termed cippi. Cf. BILBOES (1); PILLORY.

stock-transfer agent An organization that oversees and maintains records of transfers of shares for a corporation.

stock-transfer agent See AGENT (2).

stock-transfer tax A tax levied by the federal government and by some states on the transfer or sale of shares of stock. Often shortened to transfer tax. "Some state statutes impose special taxes, usually in the form of a stamp tax, upon sales and agreements for sale and other transfers of stock in corporations. Such a tax is in the nature of an excise tax on the transfer. Taxes on the issuance and transfer of corporate stock, commonly known as stock transfer taxes and payable by means of stamps, are constitutional, as within the power of state governments." 71 Am. Jur. 2d State and Local Taxation § 643, at 896 (1973).

stock-transfer tax See TAX.

stolen property Goods acquired by larceny, robbery, or theft.