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Glossary of Legal, Business and Financial Terms

This glossary contains definitions of common legal terms, as well as words and phrases related to business and finance. Some terms may have different meanings based on the area of law or the context in which they are used.

Letters testamentary

A formal document issued by a probate judge giving a personal representative authority to conduct business, contract, sell estate property, pay bills, distribute estate property, and otherwise act on behalf of the estate.