A fashion statement is when someone wears an outfit or item of clothing that stands out and captures attention. It can convey a new trend, be a political or social statement, or simply include a phrase or sentence on clothing. Celebrities often make fashion statements, such as Madonna’s cone-shaped bra, while others may wear clothes […]
An opening statement is an oral account of a lawyer’s beliefs before evidence or testimony in a trial. Attorneys use it to establish rapport with the jury and emphasize their client’s case. The party with the burden of proof usually makes the first statement. In many jurisdictions, when a case goes to trial, each side’s […]
A statement of defense is a written response to a claim in a civil suit, affirming or denying the presented facts and introducing additional facts and defenses. Failure to respond can lead to legal liability. People can consult a lawyer for assistance and may introduce new facts or affirmative defenses. A counterclaim can also be […]
Expert witness testimony is obtained through a deposition, which is a method of discovery used by attorneys to prepare for trial. An expert deposition allows a lawyer to ask questions of an expert who may testify at trial, but the cost and potential disclosure of strategy must be weighed. Interrogations are also used to prepare […]
Death row inmates are often allowed to make a final statement before execution. Many apologize for their crimes, express forgiveness, profess innocence, or pray. Others use the opportunity to express anger towards the legal system, victim, or prison staff. A final statement is the last word of a death row inmate. Often, a death row […]
A victim impact statement is a statement from a crime victim given to the court before a sentence is rendered. It can be written, oral, or videotaped and includes the financial, emotional, and social impact of the crime on the victim. The statement humanizes the crime and promotes victim recovery. It can also influence the […]
An affidavit of inheritance can be used in parts of the US, like Texas, to avoid probate and transfer ownership of real estate quickly to heirs. The document must be signed by two people with personal knowledge of the deceased’s estate, and notarized before filing with the county land registry office. The heirs assume ownership […]
A statement of trust is a document that outlines the terms of a trust, including the purpose, creator, trustees, beneficiaries, and distribution of benefits. It also lists the duties and authority of the trustee and may include provisions for a successor trustee. The document may also include information about the grantor’s family members and whether […]
A case statement is a formal document filed by parties in a lawsuit, outlining the factual and legal basis of their claims. In American law, it is called a statement of cause and includes the background, facts, and legal argument. It is used interchangeably with legal briefs and is filed with the court. The statement […]
A statement of financial position is a document that provides an overview of an entity’s finances at a particular point in time, including assets, liabilities, and equity. It can be used by businesses and individuals for budgeting decisions and financial planning. Publicly traded companies are required to disclose financial position statements. A statement of financial […]
A GAAP income statement is a financial report adhering to guidelines set by the FASB, providing consistency and ethical reporting. It includes several statements, such as the balance sheet and cash flow statement, and follows specific principles, such as distinguishing between current and non-current assets and liabilities. While useful, it’s important to do a deeper […]
Pro forma profit and loss is a projection of a company’s net income for a future period, typically found on an income statement, and is important for budgeting and identifying areas for improvement. Projections are estimates and should include all items affecting net income, with various methods available for projecting future numbers. Pro forma profit […]
An income and expense statement tracks income and expenses for a period, providing insight into a company’s financial health. It can be used to analyze trends and make changes to improve financial management. An income and expense statement is a type of financial document designed to identify all forms of income received within a given […]
The discovery process allows parties in a legal proceeding to gather essential facts, including witness statements given by a deponent. Depositions are less formal than trials, and the transcript can be used to make decisions and impeach witnesses. In some cases, a deposition can be used in place of actual court testimony. In a legal […]
A bank statement records transactions on a customer’s account during a specified period, including purchases, payments, and adjustments. Statements are issued regularly and help customers manage their accounts and financial assets. Checking, supplier, and credit card statements are common examples. Also known as a bank statement, a bank statement is a record of transactions that […]
A year-end income statement summarizes a company’s revenues and expenses for the 12 months prior to the end of its fiscal year, which may not necessarily be December 31. It is used to determine whether the business is operating at a profit or loss and is part of the company’s consolidated financial statements. Financial statements […]
A classified income statement breaks down a company’s income and expenses into individual parts, making it easier for management, shareholders, and investors to understand and compare to competitors or past performance. It includes revenue, cost of goods sold, operating expenses, and other expenses. A classified income statement is a financial document that shows the income […]
A confidentiality disclaimer is a legal statement that informs the recipient that the document is confidential and provides information on how to handle the document. It defines the intended recipient, legal relationship, intended use, and liability issues. It is important to read and review carefully. A confidentiality disclaimer is a legal statement that accompanies a […]
A personal mission statement is a brief statement of goals, values, and beliefs unique to each person. It can be career-related or for personal and professional goals. It can be revised and used as a personal barometer to stay on track with one’s values and goals. A personal mission statement is a brief statement of […]
A legal deposition is testimony taken outside of court by a person under oath, allowing lawyers to gather information about a case. Recording methods include a stenographer, transcription machine, and audio-visual equipment. Depositions help attorneys decide whether to call a witness and prepare for trial. Documents may be presented, and deponents meet with their attorneys […]
