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VALUE The power of a good or service to command other goods in exchange for the present worth of future rights to income or amenities; the present worth to typical users and investors of future benefits arising out of ownership of a property. BENEFICIARY A person who receives the benefits from the gifts or acts of another, such as one who is designated to receive the proceeds from a will, insurance policy or trust. CONSIDERATION An act or forbearance, or the promise thereof, which is offered by one party to induce another to enter into a contract; that which is given in exchange for something from another. CANTILEVER A projecting beam or overhanging portion supported at one end only. VARIABLE RATE Interest rate that changes periodically in relation to an index. |
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