Glossary Of Terms

• Fair market value - The value for which a reasonable seller would sell an item of property and for which a reasonable buyer would buy it.
• Family law - Those areas of the law pertaining to families, i.e., marriage, divorce, child custody, juvenile, paternity, etc.
• Federal Aviation Agency (FAA) - A federal agency which regulates air commerce to promote aviation Administration safety.
• Federal Bureau of (FBI) - A federal agency which investigates all violations of federal Investigation laws.
• Federal Communications (FCC) - A federal agency which regulates interstate and foreign Commission communications by wire and radio.
• Federal Deposit Insurance (FDIC) - An agency which insures deposits in banking institutions in Corporation the event of financial failure.
• Federal Mediation and Conciliation Service - An agency which provides mediators to assist in labor-management disputes.
• Federal Register - A daily publication which contains federal administrative rules and regulations.
• Federal Supplement - Books which gives the government certain control and power to regulate discharge of pollutants into the nation's waters in an effort to achieve clean waters.
• Federal Unemployment Tax - A tax levied on employers based on employee wages paid. (FUTA tax)
• Felony - A serious criminal offense. Under federal law any offense punishable by death or imprisonment for a term exceeding one year.
• Fiduciary - A person or institution who manages money or property for another and who must exercise a standard care imposed by law, i.e., personal representative or executor of an estate, a trustee, etc.
• File - To place a paper in the official custody of the clerk of court/court administrator to enter into the files or records of a case.
• Filing Fee - The fee required for filing various documents.
• Finding - Formal conclusion by a judge or regulatory agency on issues of fact. Also, a conclusion by a jury regarding a fact.
• Food and Drug (FDA) - A federal agency which sets safety and quality standards for Administration food, drugs, cosmetics, and household substances.
• Foreclosure - A court proceeding upon default in a mortgage to vest title in the mortgagee.
• Forfeiture - A cancellation. A legal action whereby a contract purchaser following default loses all his interest in the property.
• Fraud - A false representation of a matter of fact which is intended to deceive another.