Benefit of inventory

Definition
: the right of an heir to be held liable for the debts of the estate only to the extent of the assets in the estate
The heir obtains the benefit of inventory by having a qualified public officer (as a notary public) make an inventory of the assets in the estate within the time period set by statute.
3 a  : financial help in time of disability, sickness, old age, or unemployment
b  : payment or service provided for under an annuity, pension plan, or insurance policy
see also death benefit
c  : See also fringe benefit -

Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
http://www.m-w.com

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intrinsic fraud

fraud (as by the use of false or forged documents, false claims, or perjured testimony) that deceives the trier of fact and results in a judgment in favor of the party perpetrating the fraud

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