Term of the Day for Friday, September 3, 2010
possession
Definition
Dominion over, and exclusive control and use of, a material object or property resulting from the fact of holding it (whether rightly or wrongly) in one's power. Possession is said to be the "nine-tenths of the law" and is a prima facie evidence of ownership-good against any other claim, except that of the legal owner. It may mature into legal ownership due to passage of time, as in adverse possession.
Featured Tip
Wealthy Individuals and Their Possessions
Many wealthy people are little more than janitors of their possessions. ... Read more
Additional Tip(s)
http://www.businessdictionary.com/definition/possession.html
