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Simple English definitions for legal terms
half-year
Read a random definition: contingent claim
A quick definition of half-year:
A half-year is a period of time that lasts for 182 days. It is half of a full year, which is 365 days long. A year is the time it takes for the Earth to orbit around the sun. There are different types of years, such as a calendar year that starts on January 1st and ends on December 31st, and a fiscal year that companies use for accounting purposes. A tax year is the period used for calculating income tax, which can be either a calendar year or a fiscal year that ends on a different month than December.
A more thorough explanation:
Definition: A period of 182 days.
Examples:
- January 1 to June 30 is the first half-year of the calendar year.
- July 1 to December 31 is the second half-year of the calendar year.
The examples illustrate that a half-year is a period of six months, or 182 days. It is commonly used in legal and financial contexts to refer to a specific time period within a year.