DESCRIPTIVE THEORY Definition

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DESCRIPTIVE THEORY, in property rights, describes how property rights are created or initiated, how they are transferred from party to party, and finally how property rights are terminated.

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PENDING usually refers to either: 1. Not yet decided; or, 2. Being in continuance.

PAYROLL BURDEN, in the U.S., includes the cost of your payroll administration, FICA, FUTA, SUTA, workers' compensation, etc., based on each $100.00 of payroll. For example: $100.00 of payroll earned + 37.56 payroll burden = $137.56 total payroll.

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