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disclaimer

 
Dictionary: dis·claim·er   (dĭs-klā'mər) pronunciation
 
n.
  1. A repudiation or denial of responsibility or connection.
  2. Law. A renunciation of one's right or claim.

[Middle English, denial of a feudal claim, from Anglo-Norman desclaimer, to disclaim, denial of a feudal claim. See disclaim.]


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Investment Dictionary: Qualified Disclaimer
 

A refusal to accept property that meets with provisions set forth in the Internal Revenue Code Tax Reform Act of 1976 allowing for the property or interest in property to be treated as an entity that has never been received. These types of refusals can be used to avoid federal estate tax and gift tax, and to create legal inter-generational transfers which avoid taxation, provided they meet the following set of requirements:

1. The disclaimer must be made in writing and signed by the disclaiming party.
2. The disclaimer must identify the property, or interest in property that is being disclaimed.
3. The disclaimer must be delivered, in writing, to the person or entity charged with the obligation of transferring assets from the giver to the receiver(s).
4. The disclaimer must be written less than nine months after the date the property was transferred. In the case of a disclaimant aged under 21, the disclaimer must be written less than nine months after the disclaimant reaches 21.

Disclaimed property is given to the "contingent beneficiary" by default.

Investopedia Says:
Due to the strict regulations that determine whether disclaimers are considered "qualified" according to the standards of the Internal Revenue Code, it is essential that the renouncing party understand the risk involved in disclaiming property. In most cases, the tax consequences of receiving property fall far short of the value of the property itself. It is usually more beneficial to accept the property, pay the taxes on it, and then sell the property, instead of disclaiming interest in it.

When used for succession planning, qualified disclaimers should be used in light of the wishes of the deceased, the beneficiary and the contingent beneficiary.

Related Links:
Contrary to popular belief, inheriting assets isn't always a good thing. Find out what to do if you want to disclaim them. Refusing An Inheritance
There are some good reasons for choosing not to accept the funds, but be sure you follow the proper process. Disclaiming Inherited Plan Assets
Keeping on top of these amendments can help you avoid penalties and take advantage of benefits. Changes In Tax Legislation And Regulation


 
Business Dictionary: Disclaimer
Top

1. Denial of a person's claim to a thing, though previously that person insisted on such a claim or right.

2. Renunciation of the right to Possess and of claim to a Title.

3. Denial of a right of another, for example, where an insurer disclaims an allegation of liability against its insured and thereby refuses to indemnify or defend the insured in a lawsuit.

4. Statement whereby a certified public accountant or other professional refuses to express an opinion.

 
Real Estate Dictionary: Disclaimer
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1. a statement whereby responsibility is rejected.
Example: Abel, a certified public accountant, is asked to write up the Financial Statements of Baker without testing (auditing) the validity of the statements. Abel's report provides a disclaimer in which he states that he did not examine the financial statements and does not accept responsibility for their accuracy.

2. Renunciation of ownership of Property.
Example: Because they were no longer profitable, Baker disclaimed apartments that had become dilapidated.

 
Thesaurus: disclaimer
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noun

    A refusal to grant the truth of a statement or charge: contradiction, denial, disaffirmance, disaffirmation, negation, rejection. Law traversal. See affirm/deny/argue.

 
Hacker Slang: disclaimer
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[Usenet] Statement ritually appended to many Usenet postings (sometimes automatically, by the posting software) reiterating the fact (which should be obvious, but is easily forgotten) that the article reflects its author's opinions and not necessarily those of the organization running the machine through which the article entered the network.


 
Law Encyclopedia: Disclaimer
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This entry contains information applicable to United States law only.

The denial, refusal, or rejection of a right, power, or responsibility.

A disclaimer is a defensive measure, used generally with the purpose of protection from unwanted claims or liability. A restaurant may disclaim responsibility for loss or damage to a customer's personal property, or a disclaimer clause in a contract might set forth certain promises and deny all other promises or responsibilities.

A disclaimer of warranty, which is provided for in the Uniform Commercial Code, limits a warranty in the sale of goods. It may be general or specific in its terms.

 
Wikipedia: Disclaimer
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This is a volleyball court in a business park in Goleta, California, USA. A disclaimer is posted on the sign standing at the right hand side of the volleyball court.

A disclaimer is generally any statement intended to specify or delimit the scope of rights and obligations that may be exercised and enforced by parties in a legally-recognized relationship. In contrast to other terms for legally operative language, the term disclaimer usually implies situations that involve some level of uncertainty, waiver, or risk.

A disclaimer may specify mutually-agreed and privately-arranged terms and conditions as part of a contract; or may specify warnings or expectations to the general public (or some other class of persons) in order to fulfill a duty of care owed to prevent unreasonable risk of harm or injury. Some disclaimers are intended to limit exposure to damages after a harm or injury has already been suffered. Additionally, some kinds of disclaimers may represent a voluntary waiver of a right or obligation that may be owed to the disclaimant.

Disclaimers vary in terms of their uniformity. Some may vary depending on the specific context and parties involved, while other types of disclaimers may strictly adhere to a uniform and established set of formalities that are rarely or never modified, except under official authority. Some of these formal disclaimers are required pursuant to industry regulation, qualification for protection under a safe harbor, and other situations where the exact wording of a particular clause or document may be dispositive in the event of a legal dispute. (See e.g., Product liability, Toxicity Class, Rule against perpetuities, Public Health Cigarette Smoking Act).

The presence of a disclaimer in a legally binding agreement does not necessarily guarantee that the terms of the disclaimer will be recognized and enforced in a legal dispute. There may be other legal considerations that render a disclaimer void either in whole or part.

Contents

Tort law

In law, a disclaimer is a statement denying responsibility intended to prevent civil liability arising for particular acts or omissions. Disclaimers are frequently made to escape the effects of the torts of negligence and of occupiers' liability towards visitors. The courts may or may not give effect to the disclaimer depending on whether the law permits exclusion of liability in the particular situation and whether the acts or omissions complained of fall within the wording of the disclaimer.

A disclaimer may take effect as a term of the contract between the person making the disclaimer and the person who is thereby prevented from suing. This kind of disclaimer is, for example, invariably found in the 'terms and conditions' that a software user is confronted with when first installing the software. There will often be term excluding any liability for any damage that the software might cause to the rest of the user's software and hardware. By clicking "I Agree" in the dialogue box, users are agreeing to this disclaimer as matter of contract between themselves and the software company.

At common law, disclaimers can also have effect as conditions of a license (ie. permission) to enter land. An occupier of land will have certain duties to take care for the personal safety of people he or she allows onto the premises. By placing a sign at the entrance to the premises, such as "visitors enter at their own risk", the occupier may be able to stop entrants successfully suing in tort for damage or injury caused by the unsafe nature of the premises. Warnings or disclaimers contained in signs may, by a slightly different legal analysis leading to the same result, allow the person who would otherwise be responsible to rely on the defense of consent.

Under UK law, the validity of disclaimers is significantly limited by the Unfair Contract Terms Act 1977. By virtue of the Act, a business cannot use a contract term or a notice to exclude or restrict its liability for negligence causing death or personal injury. In the case of other loss or damage, a disclaimer will only be effective so long as it is reasonable in all the circumstances. The common law in other nations may also place legal limits on the validity of disclaimers; for instance, the Australian Competition and Consumer Commission has previously successfully sued Target Australia Pty Ltd for the usage of inaccessible disclaimers in advertisements (the televised advertisements in question contained disclaimers that were only shown on screen for 1.5 seconds).

Patent law

In patent law, a disclaimer is an amendment consisting in limiting a claim of a patent or patent application by introducing a negative feature. The allowability of disclaimers is subject to particular conditions, which may vary widely from one country to another

Estate law

In estate or inheritance law, a disclaimer (also called disclaimer of interest) is a written document voluntarily signed by an heir to an estate in which the said heir does not accept (disclaims) the part of the estate of a deceased person which the heir is entitled to receive. The disclaimed part of the estate is then inherited not necessarily by a person of the disclaiming heir's choice, but by the next heir in line to receive that part of the estate as if the disclaiming heir were also deceased, either according to the will, beneficiary designation, or the laws of intestacy. Government tax agencies have further rules on such disclaimers. Reasons for such disclaimers may include imminent death of the disclaimant or the fact that the disclaimant already has enough wealth. For full article, see Disclaimer of interest.

Literature

The All persons fictitious disclaimer is a standard disclaimer used in works of fiction in an attempt to avoid liability for defamation.

In the case of fanfiction, the author will usually give a disclaimer saying that the author of the fanfiction does not, in any way, profit from the story and that all creative rights to the characters belong to their original creator(s).

See also

External links


 
Translations: Disclaimer
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Dansk (Danish)
n. - afstandtagen, dementi, afkald

Nederlands (Dutch)
(bewijs van) afstand, ontkenning, uitzondering, uitsluiting van ver- antwoordelijkheid

Français (French)
n. - démenti, désaveu, dénégation, (Jur) désistement, renonciation

Deutsch (German)
n. - Widerruf, Verzicht(erklärung)

Ελληνική (Greek)
n. - αποποίηση, απάρνηση, (δημόσια) διάψευση

Italiano (Italian)
diniego, rinuncia

Português (Portuguese)
n. - renúncia (f) de um direito legal (Jur.)

Русский (Russian)
отказ, отказ от ответственности

Español (Spanish)
n. - renuncia, denegación, rectificación

Svenska (Swedish)
n. - dementi, jur. avstående från

中文(简体)(Chinese (Simplified))
放弃, 不承诺, 拒绝

中文(繁體)(Chinese (Traditional))
n. - 放棄, 不承諾, 拒絕

한국어 (Korean)
n. - 포기 각서, 기권, 포기자

日本語 (Japanese)
n. - 棄権, 否認者, 放棄者

العربيه (Arabic)
‏(الاسم) المتنازل عن حق‏

עברית (Hebrew)
n. - ‮התכחשות, כתב-ויתור‬


 
 

 

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Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. Published by Houghton Mifflin Company. All rights reserved.  Read more
Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved.  Read more
Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more
Thesaurus. Roget's II: The New Thesaurus, Third Edition by the Editors of the American Heritage® Dictionary Copyright © 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.  Read more
Hacker Slang. The Jargon File. Copyright © 2007.  Read more
Law Encyclopedia. West's Encyclopedia of American Law. Copyright © 1998 by The Gale Group, Inc. All rights reserved.  Read more
Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Disclaimer" Read more
Translations. Copyright © 2007, WizCom Technologies Ltd. All rights reserved.  Read more