/ˈrez.ɪ.djuː/ (noun)

Definition of residue

1. something that is left over or remains after the main part is removed or taken away, remains, dregs, rest, remainder, excess, deposit, filtrate
2. remainder of a deceased person’s estate or property after debts or taxes have been paid

Video of residue

Residue in context

Antonyms

gist, essence, nucleus, kernel

Parts of speech

Adjective: residual

Adverb: residually

/liːn OR ˈliːən/ (noun)

Definition

a legal right to keep possession of another person’s property who is in debt as security until the debtor is able to pay off his debt or the debt is discharged, the security interest created by a mortgage, legal claim on someone else’s property because that person as a debtor owes you some money

Example

A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A lien could be established by a creditor or a legal judgement. A lien serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien. There are many types of liens that are used to secure assets.

Source of example: https://www.investopedia.com/

/ɪnˈtes.teɪt/ (adj & noun)

Definition

Adjective: relating to a person who has passed away or died without leaving any will or instructions on who should receive his property as the beneficiary, without a will, unpresented, unheard

Noun: an intestate person

Example

When a person dies intestate or without leaving a valid will, their property (the estate) must be shared out according to certain rules. These are called the rules of intestacy. A person who dies without leaving a will is called an intestate person.

Example: Tom and Heather are married and own their flat jointly as beneficial joint tenants. They have a child called Selma. Tom dies intestate leaving the jointly-owned flat worth £300,000, and £50,000 in shares in his own name. The flat goes automatically to Heather. This leaves an of £50,000 which also goes to Heather, as it is worth less than £270,000. Selma inherits nothing.

Source of example: https://www.citizensadvice.org.uk/

Parts of speech

Noun: intestacy

/ˈkɒf.əʳ/ (noun & verb)

Definition

Noun: a large strongbox to keep your money and other valuable assets, treasury, chest, war chest, money chest, cash box, casket, money box, treasure chest

Verb: to store valuables including money in a coffer or strongbox – decorate something especially ceilings with coffers

Example

From the earliest days, humans have furnished their dwellings with the items they needed to survive and over the centuries the wooden chest, storage boxes, coffers, and trunks have become the most common piece of furniture found in the home. Over time the simple storage chest has evolved into different styles and been modified for different uses: wooden boxes, storage chests, tool chests, treasure chests, blanket boxes and steamer trunks. Wooden chests and trunks have become the most useful, and most versatile piece in furniture’s history.

Source: https://www.scaramangashop.co.uk/

Parts of speech

Noun: coffers: money, funds, resources, finances, wealth, capital

/ˈɒk.jʊ.pənt/ (noun)

holder or resident of a room, home or building, householder, lodger, owner, dweller, denizen, tenant, inhabitant,  – someone taking possession of unclaimed property

Houses of 200 sq m to 400 sq m (four to six bedrooms) can comfortably accommodate eight to 10 occupants, allowing 20 sq m to 50 sq m of living space per occupant. This far exceeds the URA’s previous benchmark of 10 sq m per occupant.

Furthermore, occupants of landed properties exit directly onto roads and do not jostle with neighbours for space in lifts or corridors.

Source: https://www.straitstimes.com/

Verb: occupy

Adjective: occupied

Noun: occupancy

Noun: occupier

Campus 504 Absolutely Essential Words Lesson 5

/ˈkæm.pəs/ (noun)

university or college site, educational institution, grounds, precincts, property, estate, the buildings of a university or college

Be that as it may, the reality is, nothing can really compare to the full experience of on-campus college life and when making that all-important decision on where to go to college, the benefits of a beautiful campus shouldn’t be underestimated. Working to an aesthetically appealing backdrop may provide that welcome touch of inspiration when hitting the books, and relaxing is arguably easier and more fun when you have lush green areas, elegant buildings and serene lakes to explore. Fortunately, across the U.S. there is no shortage of universities that match their academic credentials with stunning surroundings, whether they’re set among rolling mountains and leafy woodlands or close to the bright lights of a big city. Here are 100 of the most beautiful college campuses in America.

Source: https://www.bestcollegereviews.org/

Liquidation 1100 Words You Need

/ˌlɪk.wɪˈdeɪ.ʃən/ (noun)

1. the act of shutting down a business or company by selling all its property to pay its debts, insolvency, bankruptcy, closing, selling out
2. paying all debts, redemption

If a company enters into liquidation, it means that it will have to stop trading immediately and have a licensed insolvency practitioner (called a liquidator) appointed to sell the company’s assets in order to repay as much as possible to the creditors.

Source: https://www.thegazette.co.uk/

If the company cannot pay its debts, and you can’t either, a consequence could be that the company goes into liquidation and you may become bankrupt.

Source: https://www.afsa.gov.au/

There could be countless reasons why a company is facing insolvency and looking at a company liquidation, and in many cases directors will not be at fault for the predicament the company as a whole finds itself in. A limited liability framework protects those directors who have not failed in their obligations and duties, such as where the company has struggled due to unforeseen circumstances and external factors that the directors had no control over.

Source: https://www.theinsolvencyexperts.co.uk/

Noun: liquidator

Verb: liquidate

Farsi: انحلال

French: liquidation

Asset 1100 Words You Need

/ˈæs.et/ (noun)

a useful or valuable quality, skill or person, valuable things or property, advantage, belongings, resource, holding, possession, strength, plus point, positive feature, ability, qualification, endowment:

He’ll be a great asset to the team.

Her eyes are her best asset (= most attractive feature).

Knowledge of languages is a real asset in this sort of work.

A company’s assets can consist of cash, investments, buildings, machinery, specialist knowledge or copyright material such as music or computer software.

Antonyms

drawback, foible, weakness

Possess English Flashcard (verb)

/pəˈzes/

to own or have something or to have a specific quality or attribute:

He was arrested by the police due to possessing heroin.

Parts of Speech

• Noun: possession
• Noun: possessor
• Adjective: possessive
• Adjective: possessed
• Adverb: possessively

Antonyms

lose, lack

Beneficiary (noun) /ˌben.ɪˈfɪʃ.ər.i/ US /-i.er.i/

someone receiving money, property, etc. – recipient – receiver – heir – payee:

According to Mr. Smith’s will, his children are not beneficiaries of his personal property.

Antonyms

benefactor