IMPOSE Definition

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IMPOSE is to set forth authoritatively as obligatory by rule or by law, e.g. budgetary constraints imposed upon the U.S. Congress.

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PERPETUAL SUCCESSION is one of the legal distinctions between a business and a company. A company has perpetual succession meaning that a change in the membership does not affect the existence of the company whereas a business does not enjoy this perpetual succession. For example, in the case of a partnership, which is one form of business registration, a change in the membership affects the partnership.

DEFLATION is a contraction of economic activity resulting in a decline of prices.

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