benefice de division[French] BENEFIT OF DIVISION. |
benefice d'inventaire[French] BENEFIT OF INVENTORY. |
beneficial1. Favorable; producing benefits <beneficial ruling>. 2. Consisting in a right that derives from something other than legal title <benefi-cial interest in a trust>. |
beneficial associationSee benevolent association. |
beneficial association-See benevolent association under ASSOCIATION. |
beneficial enjoymentSee ENJOYMENT. |
beneficial enjoyment-The possession and benefit of land or other property, but without legal title. |
beneficial holder of securitiesA holder of equitable title to corporate stock .o The stock is not registered under the holder's name in the corporation's records. |
beneficial improvementSee valuable improvement under IMPROVEMENT. |
beneficial improvement-See valuable improvement. |
beneficial interestSee INTEREST (2). |
beneficial interestA right or expectancy in something (such as a trust or an estate), as opposed to legal title to that thing. For example, a person with a beneficial interest in a trust receives income from the trust but does not hold legal title to the trust property. |
beneficial owner1. One recognized in equity as the owner of something because use and title belong to that person, even though legal title may belong to someone else; esp., one for whom property is held in trust. Also termed equitable owner. 2. A corporate shareholder who has the power to buy or sell the shares, but who is not registered on the corporation s books as the owner. 3. Intellectual property. A person or entity who is entitled to enjoy the rights in a patent, trademark, or copyright even though legal title is vested in someone else. The beneficial owner has standing to sue for infringement. A corporation is typically a beneficial owner if it has a ontractual right to the assignment of the patent but the employee who owns the patent has failed to assign it. Similarly, a patent or copyright owner who has transferred title as collateral to secure a loan would be a beneficial owner entitled to sue for infringement. |
beneficial ownerSee OWNER. |
beneficial ownershipSee OWNERSHIP. |
beneficial ownership1. A beneficiary s interest in trust property. Also termed equitable owner ship. 2. A corporate share holders power to buy or sell the shares, though the ownership-in-place theory shareholder is not registered on the corporation s books as the owner. |
beneficial powerA power that is executed for the benefit of the power donee, as distinguished from a trust power, which is executed for the benefit of someone other than the power s donee (Le., a trust beneficiary). |
beneficial powerSee POWER (5). |
beneficial useSee USE (1). |
beneficiary(ben-a-fish-ee-er-ee or ben-a-fish-a-ree), 1. A person for whose benefit property is held in trust; esp., one deSignated to benefit from an appoint-ment, dispOSition, or assignment (as in a will, insurance policy, etc.), or to receive something as a result of a legal arrangement or instrument. 2. A person to whom another is in a fiduciary relation, whether the relation is one of agency, guardianship, or trust. 3. A person who is initially entitled to enforce a promise, whether that person is the promisee or a third party. beneficiary, adj. |
beneficiary heirSee HEIR. |
beneficiary heir-(ben-a-fish-ee-er-ee). Civil law. An heir who accepts an inheritance but whose liability for estate debts is limited to the value of the inheritance. - Also termed heir beneficiary. See BENEFIT OF INVENTORY. Cf. unconditional heir. |
beneficio primo ecclesiastico habendo(ben-a-fish-ee-oh pry-moh a-klee-z[h]ee-as-ta-koh ha-ben-doh). [Latin "having the first ecclesiastical benefice"] Hist. A writ from the king to the lord chancellor ordering the appointment of a named person to the first vacant benefice. |
beneficium(ben-a-fish-ee-am), n. [Latin "benefit"] 1. Roman law. A privilege, remedy, or benefit granted by law, such as the beneficium abstinendi ("privilege of abstaining"), by which an heir could refuse to accept an inheritance (and thereby avoid the accompanying debt). 2. Hist. A lease, generally for life, given by a ruler or lord to a freeman .o Beneficium in this sense arose on the continent among the German tribes after the collapse of the Roman Empire. "All those to whom the Frankish king had given land and to whom the Frankish emperor had granted political authority had received it on certain conditions. They were the recipi' ents of royal favor - a beneficium. Their holding came tobe so styled." Max Radin, Handbook of Anglo·American Legal History 126 (1936). 3. Hist. English law. An estate in land granted by the king or a lord in exchange for services .o Originally, a beneficium could not be passed to the holder's heirs, in contrast to feuds, which were heritable from an early date. Tenants, however, persisted in attempting to pass the property to their heirs, and over time the beneficium became a heritable estate. As this process occurred, the meaning of beneficium narrowed to a holding of an ecclesiastical nature. See BENEFICE (2). "Beneficia were formerly Portions of Land, etc. given by Lords to their Followers for their Maintenance; but after· wards as these Tenures became Perpetual and Hereditary, they left their Name of Beneficia to the Livings of the Clergy, and retained to themselves the Name of Feuds. And Beneficium was an estate in land at first granted for Life only, so called, because it was held ex mero Beneficio of the Donor ... [blut at Length, by the Consent of the Donor, or his Heirs, they were continued for the Lives of the Sons of the Possessors, and by Degrees past into an Inheritance .... " Giles Jacob, A New law. Dictionary (8th ed. 1762). |
beneficium abstinendi(ben-a-fish-ee-am ab-sti-nen-dI). [Latin "privilege of abstaining"] Roman law. The right of an heir to refuse an inheritance and thus avoid liability for the testator's debts. "[T]hese heirs came also to be protected by the praetor, viz. by the jus or beneficium abstinendi. Provided they took care not to act as heir in any kind of way, then, whether they formally demanded the privilege or not, their own property could not be made liable for their ancestor's debts." RW. Leage, Roman Private Law 220 (C.H. Ziegler ed., 2d ed. 1930). |
beneficium cedendarum actionum(ben-a-fish-ee-am see-den-day-ram ak-shee-oh-nam). [Latin "privilege of having actions made over"] Roman & Scots law. The right of a cosurety who might or might not have paid the debt to compel the creditor to give over the right of action against the debtor and the other cosure-ties .Under Scots law, a cosurety's (or cocautioner's) right of action against the nonpaying cosurety arises on payment, without the necessity of compelling the creditor to assign the action. But in Roman law) the right of action arose before the paying of the debt. |
beneficium competentiae(ben-a-fish-ee-am kom-pa-ten-shi-ee). [Latin "privilege of competency"] Roman & Scots law. A debtor's right to be ordered to pay only as much as the debtor reasonably could) so that after assigning his or her estate to creditors, the debtor kept enough to live on. See assignment for the benefit of creditors under ASSIGNMENT; SALVO BENEFICIO COM-PETENTIAE |
beneficium divisionis(ben-a-fish-ee-am di-vizh-ee-oh-nis). See BENEFIT OF DIVISION. |
beneficium inventarii(ben-a-fish-ee-am in-ven-tay-ree-I or in-ven-tair-ee-I). [Latin "with the benefit of inventory"] Roman law. The right of an heir to take an inventory within a set time before deciding whether to accept an inheritance .o An heir could provision-ally take the succession and disclaim responsibility for debts beyond the estate's value until the inventory was completed and the inheritance accepted or rejected. This right was introduced by Justinian. Also termed cum beneficio inventarii (kam ben-a-fish-ee-oh in-ven-tair-ee- I). |
beneficium ordinis(ben-a-fish-ee-am or-da-nis). [Latin "privilege of order"] Roman & Scots law. A surety's right to require a creditor to seek payment from the princi-pal debtor belore seeking payment from the surety. See BENEFICE DE DISCUSSION. "Beneficium Ordinis ... by the civil law and our own, a cautioner, simply bound as such, is entitled to insist that the prinCipal be first discussed by extreme diligence." Hugh Barclay, A Digest of the Law of Scotland 76 (3d ed. 1865). |
beneficium separationis(ben-a-fish-ee-am sep-a-ray-shee-oh-nis). [Latin "privilege of separation"] Roman law. The right of a creditor of the deceased to have the property of the deceased separated from an heir's property . This separation protected the creditors by ensuring that the deceased's property was not used to pay the heir's creditors. - Also termed separatio bonorum. |
benefit1. Advantage; privilege <the benefit of owning a car>. 2. Profit or gain; esp., the consideration that moves to the promisee <a benefit received from the sale>. Also termed legal benefit; legal value. Cf. DETRIMENT (2). |
benefit associationSee benevolent association. |
benefit association-See benevolent association under ASSOCIATION. |
benefit certificateA written obligation to pay a named person a specified amount upon stipulated conditions. Benefit certificates are often issued by fraternal and beneficial societies. |
benefit of an earlier filing datePatents & Trademarks. For a patent or trademark applicant, the advantage of being assigned the filing date of a related, earlier-filed application . Under 35 USCA § 119: (1) a U.S. patent application is given the filing date of an earlier toreign application filed in accordance with the Paris Conven-tion as long as the U.S. filing occurs not more than one year after the foreign filing; and (2) a continuing appli-cation filed in accordance with 35 USCA § 120 is given the filing date of an earlier-filed U.S. application. Simi-larly, under 15 USCA § 11 26(d), a U.S. trademark appli-cant receives the filing date of an earlier-filed foreign application if: (I) the foreign application was filed in a Paris Convention country; and (2) the U.S. applica-tion is filed within six months after the foreign applica-tion. - Also termed benefit of priority filing date; claim of priority. |
benefit of cessionA debtor's immunity from imprisonment for debt . The immunity arises when the debtor's property is assigned to the debtor's credi-tors. See CESSIO BONORUM. |
benefit of clergy1. At common law, the privilege of a cleric not to be tried for a felony in the King's Court <in the Middle Ages, any man who could recite the "neck verse" was granted the benefit of clergy> . Although clergy includes monks and nuns as well as priests, there are no known cases of women claiming or being granted benefit of clergy. Congress outlawed benefit of clergy in federal courts in April 1790. It was abolished in England in 1827 but survived even longer in some American states, such as South Carolina, where it was successfully claimed in 1855. State v. Bosse, 42 S.C.L. (3 Rich.) 276 (1855). Also termed clergy privilege; clericale privilegium. See NECK VERSE. "Benefit of clergy was a remarkable privilege which, although now obsolete, was for centuries of great impor-tance in criminal law. Some knowledge of it is even now essential for a proper understanding of common law crimes. After William the Conqueror separated the eccle-siastical from the secular courts, the clergy put forward the claim that all persons in holy orders should be exempt from secular jurisdiction in all proceedings, civil or criminal. Eventually the rule was established that 'clerks' of all kinds, who committed any of the serious crimes termed felonies, could be tried only in an ecclesiastical court, and therefore were only amenable to such punishments as that court could inflict. Any clerk accused of such crime was accord-ingly passed over to the bishop's court. He was there tried before a jury of clerks by the oaths of twelve compurgators; a mode of trial which usually ensured him an acquittaL" J.w. Cecil Turner, Kenny's Outlines of Criminal Law 75 (16th ed. 1952). "'Benefit of clergy,' in its origin, was the right of a clergy-man not to be tried for felony in the King's Court. tn ancient times, when the Church was at the peak point of its power, it preempted jurisdiction over felony charges against cler-gymen. |
benefit of counselSee RIGHT TO COUNSEL (1). |
benefit of discussionA guarantor's right to require a creditor to seek payment from the principal debtor before seeking payment from the guarantor. Also termed (in French law) benefice de discussion; (in Scots law) right of discussion. "Benefit of Discussion. By common law a cautioner, bound simply as such, had right to insist that the creditor should discuss the prinCipal debtor, that is, exhaust his estate by diligence, before coming upon him for payment of the debt." William K. Morton & Dale A. Whitman, Manual of the Law of Scotland 299 (1896). |
benefit of divisionA surety's right to be sued only for a part of the debt proportionate to the number of solvent cosureties. Also termed (in Roman law) beneficium divisionis; (in French law) benefice de division; (in Scots law) right of division. |
benefit of inventoryThe principle that an heir's liability for estate debts is limited to the value of what is inherited, if the heir so elects and files an inventory of the estate's assets. Also termed benefice d'inventaire. |
benefit of priority filing dateSee BENEFIT OF AN EARLIER FILING DATE. |
benefit-of-bargain ruleSee BENEFlT-OF-THE-BARGAIN RULE. |
benefit-of-the-bargain damagesSee DAMAGES. |
benefit-of-the-bargain damages-Damages that a breaching party to a contract must pay to the aggrieved party, equal to the amounts that the aggrieved party would have received, including profits, if the contract had been fully performed. Also termed loss-of-bargain damages. |
benefit-of-the-bargain rule1. The principle that a party who breaches a contract must pay the aggrieved party an amount that puts that person in the same financial position that would have resulted if the contract had been fully performed. 2. The principle that a defrauded buyer may recover from the seller as damages the difference between the value of the property as represented and the actual value received. - Also termed benefit-of-bargain rule. Cf. OUT-OF-POCKET RULE. |
benevolent associationAn unincorporated, nonprofit organization that has a philanthropic or charitable purpose. Also termed beneficial association; benefit association; benevolent society; fraternal society; friendly society. |
benevolent association-See ASSOCIATION. |
benevolent societySee benevolent association under ASSOCIATION. |
benevolentia regis habenda(ben-a-va-Ien-shee-a ree-jis-ha-ban--da). [Latin "the king's benevolence to be had"] Hist. A fine paid to receive the king's pardon and a res-toration of place, title, or estate |
BenthamismSee hedonistic utilitarianism under UTILI-TARIANISM. |
BenthamiteOf or relating to the utilitarian theory of Jeremy Bentham. See hedonistic utilitarianism under UTILITARIANISM. |
bepBUREAU OF ENGRAVING AND PRINTING. |
bequeath(ba-kweeth), 1. To give property (usu. personal property) by will. 2. Hist. To assign or transfer real or personal property by formal declaration, either inter vivos or after death. |
bequeathalSee BEQCEST. |
bequest(ba-kwest), 1. The act of giving property (usu. personal property) by will. 2. Property (usu. personal property other than money) disposed of in a will. Also termed bequeathal (ba-kwee-thal). Cf. DEVISE; LEGACY. |
Berlin ActA 1908 revision of the Berne Con-vention prohibiting formalities as a requirement for copyright protection, recommending (but not requir-ing) a term of protection equal to the life of the author plus 50 years, and expanding the types of works eligible for copyright protection . Motion pictures were included in copyright protection for the first time. -Also termed Berlin Act of 1908; 1908 Berlin Act. |
Berne Additional ProtocolA 1914 amend-ment to the Berne Convention providing for reprisals against a foreign national who publishes simultane-ously in both a member nation and the author's own nonmember and nonreciprocating country .The reprisal was aimed at the United States, which until 1989 refused to join the Berne Convention but whose citizens could enjoy Berne protection by first publish-ing in a member nation. See BACK DOOR TO BERNE. |
Berne ConventionAn international copy-right treaty providing that works created by citizens of one signatory nation will be fully protected in other signatory nations, without the need for local formal-ities . The treaty was drafted in Berne in 1886 and revised in Berlin in 1908. It is now administered by the World Intellectual Property Organization and pre-scribes minimum levels and terms of copyright protec-tion. The United States ratified the Berne Convention in 1989 and changed several aspects of U.S. copyright law to comply with the treaty's terms. Also termed Berne Copyright Convention; Berne Convention for the Protec-tion of Lite ra ry and Artistic Property. See CONGRESS OF AUTHORS AND ARTISTS. |
Berne Convention Implementation ActCopyright.The 1988 federal law making the United States a signatory to the Berne Convention, 102 years after the convention was first opened for signatures .o The law ended rigid formalities for registration and marking, although reg-istration is still required before United States-copyright owners can sue for infringement. Pub. L. No. 100-568, 102 Stat. 2853. - Abbr. BCIA. |
Berne Copyright ConventionSee BERNE CONVEN-TION. |
Berne Paris ActCopyright. A 1971 revision of the Berne Convention reducing the obligations of nations that became members as colonies of signatories. Also termed 1971 Paris Act of the Berne Convention. |
Berne Safeguard ClauseA provision in the Universal Copyright Convention barring protection in Berne Union countries for the works of any country that withdraws from the Berne Union after January 1, 1951. The purpose of the clause was to prevent countries from withdrawing from the Berne Union in favor of the more relaxed copyright -protection stan-dards of the Convention. The clause was amended in 1971 to give developing countries the right to opt out of its mandate. |
Berne UnionThe treaty alliance of Berne Convention member nations. |
Berne-minusCopyright. Of or relating to the second sentence of Art. 9(1) of the TRIPs Agreement, which provides that intellectual-property rights and duties under the Berne Convention will not be expressly enforced on noncomplying signators through the TRIPs Agreement. U.S. reluctance to expressly protect moral rights of authors and artists has been criticized as a "Berne-minus" attitude. |
Berne-plusCopyright. Of or relating to a copyright-treaty provision that affords greater intellectual-prop-erty protection than the minimum required by the Berne Convention, either by granting stronger rights or by extending protection to new forms of subject matter. The term arose during negotiations over the TRIPs Agreement, reflecting the principle that the treaty should incorporate and build on existing international law. The WIPO treaties are said to be "Berne-plus" treaties because they incorporate Berne protections and add additional protections of their own. |
Berry ruleThe doctrine that a defendant seeking a new trial on grounds of newly discovered evidence must show that (1) the evidence is newly discovered and was unknown to the defendant at the time of trial; (2) the evidence is material rather than merely cumulative or impeaching; (3) the evidence will probably produce an acquittal; and (4) the failure to learn of the evidence was not due to the defendant's lack of diligence. Berry v. State, 10 Ga. 511 (1851). |
Bertillon system(bar-ta-lon or bair-tee-yawn). A system of anthropometry once used to identify criminals by measuring and describing them. The Bertillon system is named for Alphonse Bertillon, the French anthro-pologist who developed the technique early in the 20th century. It has been largely replaced by fingerprinting. Cf. ANTHROPOMETRY. "The system of identification known as the Bertillon system is worked out on the assumption that an individ· ual's physical measurements are constant after maturity is attained. Such measurements include height, span of arms, sitting height, length of head, width of right ear, length of left foot, length of left middle finger, length of left little finger, and length of left forearm. The Bertillon system also records photographs (front and profile), hair and eye color, complexion, scars, tattoo marks and any asymmetrical anomalies." Encyclopedia of Criminology 81·'82 (Vernon c. Branham & Samuel B. Kutash eds., 1949), s.v. "Criminalistics." |
bes(bes), 1. Roman law. Two-thirds of the Roman as, or pound, consisting of eight unciae (ounces) out of twelve. See AS; UNCIA. 2. Civil law. Two-thirds of an inheritance. |
besayel(bes-ay-al). [Law French] Hist. L A writ of right used by a great -grandfather's heirs to recover property held by the great-grandfather. See assize of mort d'ancestor under ASSIZE (6). 2. A great-grandfather. Also spelled besaiel; besaile; bisaile; besayle. Cf. AIEL; COSINAGE. |
besluit(bi-sloyt), n. [Dutch "decision"] Roman-Dutch law. A legislative resolution or decree. |
bespeaks-caution doctrineThe principle that if soft information in a prospectus is accompanied by cautionary language that adequately warns investors that actual results or events may affect performance, then the soft information may not be materially mis-leading to investors. - Soft information includes fore-casts, estimates, opinions, and projections about future performance. The doctrine was codified in the Private Securities Litigation Reform Act of 1995. |
best bidSee BID (1). |
best bid-The highest auction bid; in the letting of a contract, the lowest bid by a qualified bidder. |
best editionA particular version of a copy-righted work that is published in the U.S. before the date of deposit and that is designated by the Library of Congress, in its discretion, as the most suitable for its purposes. - Two copies of a copyrighted work, in the selected best-edition form, must be deposited with the Library. |
best effortsDiligent attempts to carry out an obli-gation <the contractor must use best efforts to complete its work within the stated time>. As a standard, a best-efforts obligation is stronger than a good-faith obligation. Best efforts are measured by the measures that a reasonable person in the same circumstances and of the same nature as the acting party would take. Also termed best endeavors. Cf. due diligence (l) under DILIGENCE; GOOD FAITH. |
best embodimentSee BEST MODE. |
best endeavorsSee BEST EFFORTS. |
best evidenceSee EVIDENCE. |
best evidence-Evidence of the highest quality available, as measured by the nature of the case rather than the thing being offered as evidence.o The term is usu. applied to writings and recordings. If the original is available, it must be offered rather than a copy or oral rendition. Fed. R. Evid. 1002. Also termed primary evidence; original evidence. See BEST-EVIDENCE RULE. Cf. secondary evidence. "In some circumstances, 'best evidence' may mean that evidence which is more specific and definite as opposed to that which is merely general and indefinite or descriptive. However, 'best evidence' or 'primary evidence' is variously defined as that particular means of proof which is indicated by the nature of the fact under investigation as the most natural and satisfactory, or as that kind of proof which under any possible circumstances affords the greatest certainty of the fact in question; or as evidence which carries on its face no indication that better remains behind." 32A C.J.S. Evidence § 1054, at 417 (1996). |
best interests of creditorsA test for con-firmation of a reorganization plan whereby the court inquires into whether the plan ensures that the value of property to be distributed to each creditor is at least the amount that the creditor would receive if the debtor's estate were liquidated in a Chapter 7 case. - A court may not confirm a plan in a Chapter 9, Chapter 12, or Chapter 13 case unless it is in the best interests of the creditors. In a Chapter 11 case, a court may confirm a plan even though some creditors do not vote to accept it if the court finds that the plan is in the creditors' best interest. 11 USCA §§ 944(7), 1129(a)(7), 1225(a) (4), 1325(a)(4). Also written best interest of creditors. |
best interests of the childA standard by which a court determines what arrangements would be to a child's greatest benefit, often used in deciding child-custody and visitation matters and in deciding whether to approve an adoption or a guardianship. A court may use many factors, including the emotional tie between the child and the parent or guardian, the ability of a parent or guardian to give the child love and gUidance, the ability of a parent or guardian to provide necessaries, the established living arrange-ment between a parent or guardian and the child, the child's preference if the child is old enough that the court will consider that preference in making a custody award, and a parent's ability to foster a healthy rela-tionship between the child and the other parent. Abbr. BIC. Also termed best interest of the child. Cf. PARENTAL-PREFERENCE DOCTRINE. |
best modeThe best way that the inventor knows to work the invention described and claimed in a patent or patent application. A patent application must disclose the best mode known to the inventor at the time of the filing. Failure to disclose the best mode can render a patent invalid. 35 USCA § 112,' L Also termed best embodiment. Cf. ENABLEMENT REQUIRE-MENT. |
best useSee highest and best use under USE (1). |
best-efforts contractSee CONTRACT, |
best-efforts contract-A contract in which a party undertakes to use best efforts to fulfill the promises made rather than to achieve a specific result; a contract in which the adequacy of a party's performance is measured by the party's ability to fulfill the specified obligations. Although the obligor must use best efforts, the risk of failure lies with the obligee. To be enforceable, a best-efforts term must generally set some kind of goal or guideline against which the efforts may be measured. See BEST EFFORTS. |
best-efforts underwritingSee UNDERWRITING. |
best-evidence ruleThe evidentiary rule providing that, to prove the contents of a writing (or a recording best-interests-of-the-child doctrine or photograph), a party must produce the original writing (or a mechanical, electronic, or other familiar duplicate, such as a photocopy) unless it is unavailable, in which case secondary evidence - the testimony of the drafter or a person who read the document - may be admitted. Fed. R. Evid. 1001-1004. - Also termed documentary-originals rule; original-writing rule; origi-nal-document rule. "Down to a century or more ago, the term 'best eVidence' was a good deal used; 'the best evidence that the nature of the thing will afford' was said to be required. But this loose expression never represented a concrete rule. The only positive and concrete rules of the kind are those above named. And today, though the cant phrase is sometimes invoked, and though an inference may be made against a party who fails to produce what might be better evidence, yet no court will in general exclude relevant evidence because there might be better evidence available," John H. Wigmore, A Students' Textbook of the Law of Evidence 219 (1935). |
bestiality(bes-chee-al-a-tee). Sexual activity between a human and an animal Some authorities restrict the term to copulation between a human and an animal of the opposite sex. See SODOMY. |
best-interests-of-the-child doctrineThe principle that courts should make custody decisions based on whatever best advances the child's welfare, regardless of a claimant's particular status or relation-ship with the child. One important factor entering into these decisions is the general belief that the child's best interests normally favor custody by parents, as opposed to grandparents or others less closely related. The doctrine is quite old, haVing been stated, for example, in the early 19th-century case of Com-monwealth v. Briggs, 33 Mass. 203 (1834). Some-times shortened to best-interests doctrine; best-interest doctrine. See PARENTAL-PREFERENCE DOCTRINE. |
best-mode requirementThe requirement that a patent application show the best phYSical method known to the inventor for using the invention. Cf. ENABLEMENT REQUIREMENT. |
bestowTo convey as a gift <bestow an honor on another>. bestowal, n. |
betSomething (esp. money) staked or pledged as a wager. bet, vb. betting, n. bettor, n. |
bet dinSee BETH DIN. |
betaA statistical measure of a security's risk, based on how widely a particular security's return swings as compared to the overall return in the market for that security.The market's beta is set at 1.0; a security with a beta lower than 1.0 is less risky than the general market, while a security with a beta higher than 1.0 is more so. |
beta testingThe process of testing products and services, esp. software, under real-life conditions. Consumers often engage in beta testing at no cost in exchange for reporting to the developer how satisfied they are, any problems they encounter, and any suggested improvements. To protect a trade secret or to avoid a statutory bar, the developer may require the user to sign a nondisclosure agreement. Cf. ALPHA TESTING. |
beta-test agreementA software license agreement, usu. between a software developer and a customer, permitting the customer to use the software program in a "live" environment before its release to the general public. Beta-test agreements differ from more conventional software licenses in that they typically (1) have more significant limitations on liability; (2) contain few, if any, warranties; and (3) require user evaluation and feedback. -Also termed software beta-test agreement. |
beth dinA rabbinical tribunal empowered by Jewish law to decide and enforce matters of Jewish law and custom; esp., a tribunal consisting of three rabbis who decide questions of Jewish law. Also spelled bet din. See BETH TORAH. |
beth TorahThe judgment rendered by a panel of rabbis. See BETH DIN. |