Capital asset

Definition
: a tangible or intangible long-term asset esp. that is not regularly bought or sold as part of the owner's business
specif
: any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code)

Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
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collateral estoppel

estoppel by judgment barring the relitigation of issues litigated by the same parties on a different cause of action

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