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Simple English definitions for legal terms
legal benefit
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A quick definition of legal benefit:
A legal benefit is an advantage or privilege that someone receives, such as owning a car or receiving financial assistance from an employer or public program. It can also refer to profit or gain received from a sale or life insurance policy. In the context of eminent domain, a special benefit is a benefit that only accrues to the owner of the land in question, while a general benefit is a benefit that benefits the whole community.
A more thorough explanation:
A legal benefit is an advantage or privilege that is recognized by law. It can also refer to profit or gain that is received as consideration for a promise. Legal benefit is also known as legal value.
- Death benefit: This refers to the sum of money paid to a beneficiary from a life insurance policy when the insured person dies.
- Fringe benefit: This is a benefit received by an employee from an employer, such as insurance, a company car, or a tuition allowance.
- Special benefit: This is a benefit that accrues to the owner of a land in question and not to any others. It justifies a reduction in the damages payable to the owner of land that is partially taken by the government during a public project.
These examples illustrate how legal benefit can take different forms and can be received from different sources, such as insurance, employers, or the government. They also show how legal benefit can be recognized and protected by law.