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adj. referring to being inactive. A "passive trustee" is one who has no responsibilities other than to hold title or wait for an event which would activate the trust. "Passive income" for tax purposes includes any income in which there is no effort or active management, and is treated differently for some purposes, such as social security income limitations. It may include stock dividends, trust profits, rents with no management involvement, and interest on bank accounts.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

PASSIVE, com. law. All the sums of which one is a debtor. It is used in contradistinction to active. (q.v.) By active debts are understood those which may be employed in furnishing assets to a merchant to pay those which he owes, which are called passive debts.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Active 3D seems to be the most popular one around, until LG brought in the Cinema 3D range with the Passive 3D tech, technically called the Film type Patterned Retarder.
Passive 3D, on the other hand, uses much lighter polarized glasses.
Manufacturers are still experimenting with 3D technology, and that will mean more passive 3D displays, and possibly even glasses-free 3D HDTVs in the not-so-near future.
While active 3D is less convenient than passive 3D, it generally offers a better 3D picture.
HDTVs manufacturers that currently sell passive 3D HDTVs: LG, Panasonic, and Vizio
Passive 3D uses glasses with special polarized lenses that filter images to each eye to produce a 3D effect.
Most passive 3D HDTVs come with several pairs of glasses, and you can buy more online for a few bucks a pair.
Finally, the LG V300, is apparently "LG's First All-in-One PC with Top-Line Display Technology." Powered by a second generation Intel Core i7 processor, the LG V300 AIO has a 23-inch FPR 3D display requiring passive 3D glasses, and IPS technology with 178 degree viewing angles.