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Claim |
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To demand or assert as a right. Facts that combine to give rise to a legally enforceable right or judicial action. Demand for relief. A claim is something that one party owes another. Someone may make a legal claim for money, or property, or for Social Security benefits. A claim also means an interest in, as in a possessory claim, or right to possession, or a claim of title to land. claim 1) v. to make a demand for money, for property, or for enforcement of a right provided by law. 2) n. the making of a demand (assert a claim) for money due, for property, for damages or for enforcement of a right. If such a demand is not honored, it may result in a lawsuit. In order to enforce a right against a government agency (ranging for damages from a negligent bus driver to a shortage in payroll) a claim must be filed first. If rejected or ignored by the government, it is lawsuit time. CLAIM. A claim is a challenge of the ownership of a thing which a man has
not in possession, and is wrongfully withheld by another. Plowd. 359; Wee i
Dall.444; 12 S. & R. 179.
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Depreciation claimed or claimable for dual-use property reduces basis as a sec tion 1250 recapture. In the case of direct payments, it should have the same cap as the personal-use credit claimable by parents. A corporation that owns an interest in another commercially active corporation is deemed to be involved in the same commercial activity and thus, ITCs are claimable. |
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