{"id":366301,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/waste.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"waste","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/waste.html","title":{"rendered":"Waste"},"content":{"rendered":"\n<div class=\"fl-index-heading\">\n    <p>term:<\/p>\n    <h1 class=\"fl-h1 fl-mb20\"><\/h1>\n\n    <dl class=\"fl-index-heading-description-list\">\n            <dt class=\"fl-mb10\"><p class=\"fl-text-bold\">n<\/p><\/dt>\n        <dd><p><b>1<\/b>  <b>:<\/b> destruction of or damage to property that is caused by the act or omission of one (as a lessee, mortgagor, or life tenant) having a lesser estate and is usually to the injury of another (as an heir, mortgagee, or remainderman) with an interest in the same property &#91;an action for &#93; <\/p>\n<p><b>ame&#183;lio&#183;rat&#183;ing waste<\/b><br \/>  &#91;&#601;-m&#275;l-y&#601;-r&#257;-ti-&#93;<br \/>  <b>:<\/b> waste that leads to improvement of property (as by clearing the way for rebuilding something) called also <i>ameliorative waste<\/i> <\/p>\n<p><b>permissive waste<\/b><br \/>  <b>:<\/b> waste caused by the failure of a tenant to take ordinary or proper care of the property <\/p>\n<p><b>voluntary waste<\/b><br \/>  <b>:<\/b> waste caused by the intentional commission of a destructive act by a tenant <br \/>  <b>2<\/b>  <b>:<\/b> a reduction of the value of assets (as in a trust) caused by a failure to exercise proper care or sound judgment in managing them <br \/>  <i>;esp<\/i><br \/>  <b>:<\/b> a transfer of corporate assets (as through excessive executive compensation or a merger) for no legitimate business purpose or for less than what a person of ordinary sound business judgment would consider to be adequate consideration &#91;the essence of a claim of of corporate assets is the diversion of corporate assets for improper or unnecessary purposes &#8220;<i>Michelson v. Duncan<\/i>, 407 A.2d 211 (1979)&#8221;&#93; <i>NOTE: Waste injures the interests of shareholders. <\/i> <\/p>\n<\/dd>\n<\/dl>\n    <div class=\"fl-index-heading-source\">Source: Merriam-Webster&#8217;s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is &#8216;Waste&#8217;? Learn more about legal terms and the law at FindLaw.com<\/p>\n","protected":false},"parent":358119,"menu_order":0,"template":"app\/Http\/Controllers\/Templates\/DictionaryArticleController.php","meta":{"_acf_changed":false,"_stopmodifiedupdate":false,"_modified_date":"","_autodraft_ids":[],"_cloudinary_featured_overwrite":false,"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_show_comment_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","cf_checklist_status":[]},"dictionary_tags":[],"class_list":["post-366301","dictionary","type-dictionary","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary\/366301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary"}],"about":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/types\/dictionary"}],"up":[{"embeddable":true,"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary\/358119"}],"wp:attachment":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/media?parent=366301"}],"wp:term":[{"taxonomy":"dictionary_tags","embeddable":true,"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary_tags?post=366301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}