Occurs when assets are created that benefit individuals at the expense of the company.
Category: O
OWNED RECEIVABLES
OWNER
The person in whom is vested the ownership, dominion, or title of property; proprietor. Garver v. Hawkeye Ins. Co., 09 Iowa, 202, 28 N. W. 555; Turner v. Cross, 83 Tex. 218, 18 S. W. 578, 15 L. It. A. 202; Coombs v. People, 19S 111. 580, 64 N. E. 1056; Atwater v. Spalding, 86 Minn. 101, 90 N. W. 370, 91 Am. St. Rep. 331. He who has dominion of a thing, real or personal, corporeal or incorporeal, which he lias a right to enjoy and do with as he pleases, even to spoil or destroy it. as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right. Bouvier.
OVERSHOOTING
OVERSMAN
OVERSOLD
OVERSTATED
OVERSUBSCRIBED
OVERREACHING CLAUSE
In a resettlement, a clause which saves the powers of sale and leasing annexed to the estate for life created by the original settlemeut, when it is desired to give the tenant for life the same estate and powers under the re- settlement. The clause is so called because it provides that the resettlement shall be overreached by the exercise of the old powers. If the resettlement were executed without a provision to this effect, the estate of the tenant for life and the annexed powers would be subject to any charges for portions, etc., created under the original settlement. 3 Dav. Conv. 4S9; Sweet