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canon of descent- See CANON (1).

canon of inheritance See canon ofdescent under CANON (1).

canonical (ka-non-a-kal), 1. (Of a rule or decree) prescribed by, in conformity with, or relating to canon law. 2. Orthodox; conforming to accepted rules or conventions.

canonical disability See DISABILITY (3).

canonical disability- A canonical impediment (usu. impotence). See canonical impediment under IMPEDIMENT.

canonical impediment See IMPEDIMENT.

canonical impediment- A ground for annulment recognized by canon law and developed by the ecclesiastical courts of the Roman Catholic Church. Canonical impediments include affinity, impotence, disparity of worship, and previous religious profession.

canonical law See CANON LAW.

canonical purgation Purgation by oath-helpers in an ecclesiastical court. See COMPURGATION.

canonical purgation See PURGATION.

canonist (kan-am-ist), An expert in canon law; esp., a canon lawyer or professor of ecclesiastical law.

cant (kant). A method of dividing commonly held property by awarding it to the highest-bidding owner on condition that the successful bidder must buy out each coowner's interest. Also termed licitation.

cant rule The principle that a class action requires commonality, actionability, and typicality.

cantred (kan-tred). [fr. Welsh cant "hundred" + tref "village"] See HUNDRED.

canum (kay-nam). [Law Latin]. A duty or tribute payable from a tenant to a lord, usu. consisting of produce from the land.

canvass 1. To examine in detail; scrutinize <that issue has been repeatedly canvassed by our state's courts>. 2. To formally count ballots and report the returns <canvass the votes>. "When all the ballots have been collected, including those of the presiding officer, the secretary, and the tellers, the ballots are canvassed by the tellers, Canvassing the ballots means more than just counting, It includes evaluating ballots to identify those that are invalid, blank, cast for illegal nominees, illegible, abstaining, and the like, and reporting the total results to the presiding officer for his announcement of the results." Ray E. Keesey, Modem Parliamentary Procedure 113 (l994). 3. To solicit political support from voters or a voting district; to take stock of public opinion <the candidate is actively canvassing the Western states>. canvass, n.

cap An upper limit, such as a statutory limit on the recovery in a tort action or on the interest a bank can charge.cap, vb.

cap rate See CAPITALIZATION RATE.

capacitate (b-pas--tayt), To qualify; to make legally competent. capacitation (ka-pas-a-tay-shan), n.

capacity 1. 'The role in which one performs an act <in her corporate capacity>.

capacity defense See DEFENSE (1).

capacity defense- A defense based on the defendant's inability to be held accountable for an illegal act or the plaintiff's inability to prosecute a lawsuit (as when the plaintiff was a corporation, but has lost its corporate charter). See CAPACITY.

capacity to sue See CAPACITY (2).

capax doli (kay-paks doh-li). See DOLI CAPAX.

capax negotii (kay-paks ni-goh-shee-l), adj. [Latin "capable' of entering into a transaction") (Of a person) having capacity to enter into a contract; capable of transacting business.

cape (kay-pee). [Latin "take"] A writ filed to recover possession of land.

cape magnum (kay-pee mag-nam). [Latin "grand" cape] A writ granting possession of land before a tenant's appearance in the action. Also termed magnum cape; grand cape.

cape parvum (kay-pee pahr-vam). [Latin "little" cape] A writ for the recovery ofland issuing after the appearance of the tenant in the action. Also termed petit cape. "Cape is a writ judicial I touching plee of land or tenements, so tearmed (as most writs be) of that word in itselfe, which carieth the especial lest intention or end thereof. And this writ is divided in (Cape magnum, & Cape parvum:) both which ... take hold of things immoveable, and seeme to differ betweene themselves in these points. First, because (cape magnum) or the (grand Cape) Iyeth before appearance, and (Cape parvum) afterward. Secondly, the (Cape magnum) summoneth the tenent to aunswer to the default, and over to the demaundant: (Cape parvum) summoneth the tenent to aunswer to the default onely: and therefore is called (Cape parvum) or in French English (petit Cape.)" John Cowell. The Interpreter (1607).

capias (kay-pee-as or kap-ee-as). [Latin "that you take"], Any of various types of writs that require an officer to take a named defendant into custody . A capias is often issued when a respondent fails to appear or when an obligor has failed to pay child support. Also termed writ of capias; body execution.

capias ad audiendumjudicium (ad aw-dee-en-dam joo-dish-ee-am). [Latin "that you take to hear the judgment"] In a misdemeanor case, a writ issued to bring the defendant to hear the judgment to be imposed after having failed to appear.

capias ad computandum (ad kom-pyoo-tan-dam). [Latin "that you take for computation"], A writ issued when a debtor has failed to appear and make account after losing in an action of account render. See ACCOUNTING (3).

capias ad faciendum A writ used to enforce a creditor's judgment against a debtor by authorizing the debtor's arrest and imprisonment.

capias ad respondendum (ad ree-spon-den-dam). [Latin "that you take to answer"] A writ commanding the sheriff to take the defendant into custody to ensure that the defendant will appear in court. Abbr. ca. resp.; ca. re.; ca. ad reo

capias ad satisfaciendum (ad sat-is-fay-shee-en -dam). [Latin "that you take to satisfy"], A post judgment writ commanding the sheriff to imprison the defendant until the judgment is satisfied. Abbr. ca. sa.

capias extendi facias (ek-sten-di fay-shee-as). [Latin "take for extending"] Hist. A writ ofexecution issued against one who is indebted to the Crown, commanding the sheriff to arrest the debtor.

capias in withernam (kay-pee-as in with-ar-nahm). [Law Latin "taking again"] A writ authorizing the sheriff to seize the goods or cattle of a wrongful distrainor. Also termed writ ofwithernam. See WITHERNAM.

capias pro fine (kay-pee-as proh fI-nee). [Latin "that you take for the fine"] A writ for the arrest of a person who had not paid an imposed fine. Also termed capiatur pro fine.

capias utlagatum (kay-pee-as at-la-gay-tam). [Latin "you take the outlaw"] A writ commanding the arrest of an outlawed person.

capiendo securitatem pro duplicatione feudifirmae (kap-ee-en-doh si-kyuur-a-tay-tam proh d[y]oo-plikay-shee-oh-nee fyoo-di-far-mee). [Law Latin "by taking caution for the payment of a double of the feuduty"]. In a precept for entry of an heir, a clause that cautions against taking a double feu payment when the investiture did not expressly provide for it.

capita See PER CAPITA.

capital 1. Of or relating to economic or financial capital <capital market>. 2. Punishable byexecution; involving the death penalty <a capital offense>.

capital- 1. Money or assets invested, or available for investment, in a business. 2. The total assets of a business, esp. those that help generate profits. 3. The total amount or value of a corporation's stock; corporate equity. See capital stock under STOCK.

capital account An account on a partnership's balance sheet representing a partner's share of the partnership capital.

capital account- See ACCOUNT.

capital asset 1. A long-term asset used in the operation of a business or used to produce goods or services, such as equipment, land, or an industrial plant. Also termed jixed asset. 2. For income-tax purposes, assets specifically excluded by the Internal Revenue Code. Excluded from the definition are, among other things, stock in trade, inventory, and property held by the taxpayer primarily for sale to customers in the ordinary course of trade or business.

capital asset- See ASSET.

capital contribution 1. Cash, property, or services contributed by partners to a partnership. 2. Funds made available by a shareholder, usu. without an increase in stock holdings.

capital crime See capital offense under OFFENSE (1).

capital crime- See capital offense under OFFENSE (1).

capital expenditure An outlay of funds to acquire or improve a fixed asset. Also termed capital improvement; capital outlay.

capital expense See EXPENSE.

capital expense- An expense made by a business to provide a long-term benefit; a capital expenditure. A capital expense is not deductible, but it can be used for depreciation or amortization.

capital flight The sending oflarge amounts of investment money out of a country, usu. as a result of panic caused by political turmoil or a severe recession.

capital gain The profit realized when a capital asset is sold or exchanged. Also termed capital gains. Cf. ordinary gain under GAIN (3); capital loss under LOSS. "Throughout most of the history of income taxation in the U.S.. a distinction has been drawn between the rate of taxation on 'ordinary income' (or ordinary loss) and 'capital gain' (or capital loss). 'Capital gain' refers to the income from certain transactions in some assets, called capital assets, or from other transactions that Congress has said should be taxed as capital gain.. The most common form of capital gain or loss transaction is a sale of an asset such as a share of stock or a parcel of land, for cash." John K. McNulty, Federal Income Taxation of Individuals in a Nutshell 420 (5th ed. 1995).

capital gain- See CAPITAL GAIN.

capital gain distribution See capital-gain dividend under DIVIDEND.

capital gains See CAPITAL GAIN.

capital goods See GOODS.

capital goods- Goods (such as equipment and machinery) used for the production of other goods or services. - Also termed industrial goods.

capital impairment The financial condition of a corporation whose assets are less than the sum of its legal capital and its liabilities.

capital improvement See CAPITAL EXPENDITURE.

capital lease See LEASE-PURCHASE AGREEMENT.

capital leverage The use of borrowed funds in a business to obtain a return greater than the interest rate. See LEV ERAGE.

capital loss See LOSS.

capital market See MARKET.

capital offense A crime for which the death penalty may be imposed. Also termed capital crime.

capital offense See OFFENSE (l).

capital outlay 1. CAPITAL EXPENDITURE. 2. Money expended in acqUiring, equipping, and promoting a business.

capital punishment See CAPITAL PUNISHMENT.

capital punishment The sentence of death for a serious crime. Also termed death penalty. See DEATH PENALTY. "At Common Law capital punishment was imposed for a few very serious offences such as treason, murder, rape, and burning a dwelling-house. Even as late as 1688, despite the exceptionally rigorous laws which had been enacted during the reigns of the Tudors and Stuarts, no more than about fifty offences carried the death penalty. In the eigh· teenth century, however, their number began spectacularly to increase.... Broadly speaking, in the course of the hundred and sixty years from the Restoration to the death of George III. the number of capital offences had increased by about one hundred and ninety." 1 Leon Radzinowicz, A History of English Criminal Law § 1, at 4 (1948).

capital ratio See CAPITALIZATION RATIO.

capital recovery The collection of charged-off bad debt that has been previously written off against the allowance for doubtful accounts.

capital return See RETURN.

capital return Revenue that represents the repayment of cost or capital and thus is not taxable as income. - Also termed return of capital.

capital stock 1. The total number ofshares of stock that a corporation may issue under its charter or articles of incorporation, including both common stock and preferred stock. A corporation may increase the amount of capital stock if the owners of a majority of the outstanding shares consent. Also termed authorized stock; authorized capital stock; authorized stock issue; authorized shares. 2. The total par value or stated value of this stock; CAPITALIZATION (4). 3. See common stock.

capital stock See STOCK.

capital structure The mix of debt and equity by which a business finances its operations; the relative proportions of short-term debt, long-term debt, and capital stock.

capital surplus 1. All surplus (such as paid-in surplus or donated surplus) not arising from the accumulation of profits; a companys surplus other than earned surplus, usu. created by financial reorganization or gifts. 2. See paid-in surplus.

capital surplus See SURPLUS

capital transaction A purchase, sale, or exchange of a capital asset.

capitale (kap-i-tay-Iee). [Latin "a thing"], 1. Movable property, esp. animals (such as 100 head of cattle). Over time, chattel became the more common term. 2. A stolen thing, or its equivalent value. PI. capitalia.

capital-gain dividend See DIVIDEND.

capital-gain dividend- A taxable payment to a mutualfund shareholder. The payment is the shareholder's proportional share of the net capital gains realized by securities sales from the mutual fund's portfolio. Also termed capital-gain distribution.

capital-gains tax See TAX.

capital-gains tax A tax on income derived from the sale of a capital asset. The federal income tax on capital gains typically has a more favorable tax rate - for example, 20% for an individual and 34% for a corporation - than the otherwise applicable tax rate on ordinary income. See CAPITAL GAIN.

capitalis (kap-i-tay-lis), [Latin], (Of a crime) punishable by death, loss of liberty, or loss of citizenship. See CAPUT. 2. Hist. (Of a person or judicial proceeding) that is principal or chief.

capitalis- [Latin "chief"], A principal (or chief) person, object, or judicial proceeding.

capitalis baro (kap-i-tay-lis bar-oh). [Latin "chief baron"], The chief baron of the Court of Exchequer. See CHIEF BARON.

capitalis custos (kap-i-tay-lis kas-tohs). [Latin "chief guardian"], 1. A chief warden or magistrate. 2. Loosely, a mayor.

capitalis dominus (kap-i-tay-lis dom--a-nas). [Latin "chieflord"], A tenant's immediate lord; CHIEF LORD.

capitalis justiciarius (kap-i-tay-lis jas-tish-ee-air-ee-as). [Latin "chief justiciary"], The principal minister of state who governed when the king traveled abroad .o By the 13th century the duties ofoffice were more judicial than political. See JUSTICIARY (2).

capitalis justiciarius ad placita coram rege tenenda (kap-i-tay-lis jas-tish-ee-air-ee-as ad plas-a-ta kor-am ree-jee ta-nen-da). [Latin], Chief justice for holding pleas before the king. This phrase which dates from the 13th century referred to the chief justice of the King's Bench.

capitalis justiciarius bani (kap-i-tay-lis jas-tish-ee-airee-as ban-si). [Latin] Chief justice of the bench. This phrase which dates from the 13th century referred to the chief justice of the Court of Common Pleas.

capitalis justiciarius totius angliae (kap-i-tay-lis jas-tish-ee-air-ee-as toh-shee-as ang-glee-ee). Chief justice of all England.This was the title of the presiding justice in the court of aula regis.

capitalis plegius (kap-i-tay-Iis plee-jee-as). [Latin "chief pledge"], 1. A chief pledge or surety. 2. BORSHOLDER.

capitalis terra (kap-i-tay-lis ter-a). [Latin "head-land"], A piece of land lying before, or at the head of, other land.

capitalism An economic system that depends on the private ownership of the means of production and on competitive forces to determine what is produced. Cf. COMMUNISM (1). capitalist, adj. & n.

capitalization The act or process of capitalizing or converting something into capital. 2. The amount or sum resulting from this act or process. 3. The total amount of long-term financing used by a business, including stocks, bonds, retained earnings, and other funds. 4. The total par value or stated value of the authorized or outstanding stock of a corporation.

capitalization accounting method A method ofdetermining an asset's present value by discounting its stream of expected future benefits at an appropriate rate.

capitalization accounting method- See ACCOUNTING METHOD.