An advance pricing agreement made between a company and one tax authority. This does not necessarily allow a company to avoid double taxation. A tax authority that is not a party to the agreement is not bound by the transfer-pricing method specified in the agreement.

An advance pricing agreement made between a company and more than two tax authorities.

An advance pricing agreement made between a company and two tax authorities.

Tax. A usu. binding arrangement made between a multinational company and one or more national tax authorities about what method the company will use to calculate transfer prices. The agreement’s purpose is to reduce or eliminate double taxation.

A procedural system, such as the Anglo-American legal system, involving active and unhindered parties contesting with each other to put forth a case before an independent decision-maker. — Also termed adversary procedure; (in criminal cases) accusatorial system; accusatory procedure.

1. A hearing involving a dispute between opposing parties Judge Adams presided over the adversary proceeding between the landlord and tenantx 2. Bankruptcy. A lawsuit that is brought within a bankruptcy proceeding, governed by special procedural rules, and based on conflicting claims usu. between the debtor (or the trustee) and a creditor or other interested [...]

A loan on bottomry, so called because the lender will be liable for the gross (or general) average. See bottomry.

A maritime enterprise, characterized as an undertaking in which all participants, including the carrier, everyone with an interest in the cargo, and the insurers of all share the risks of the perils of the sea. The principle of shared risk is fundamental to maritime law. — Also termed joint adventure; common venture.

1, See adverse-domination doctrine. 2, Torts. Rare. The unlawful exercise of authority or control over goods so that the true owner is dispossessed. See conversion (2). 3. Rare. See adverse possession.

The equitable principle that the statute of limitations on a breach-of-fiduciary-duty claim against officers and directors (esp. a corporation’s action against its own officers and directors) is tolled as long as a corporate plaintiff is controlled by the alleged wrongdoers. The statute is tolled until a majority of the disinterested directors discover or are put [...]