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| Definition Of: |
Boot
Money received during an exchange to equalize values. If two individuals agree to exchange real estate, 'boot' is used to even up the exchange. This term is loosely used to describe cash out of a deal. e.g. if a person sells his business for an assumption of liabilities and for some cash the cash is 'boot.'
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The 'Lectric Law Library INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A: Page 1 of 27.
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