Statutory refers to something that is related to a formal law or a statute, and non-statutory is essentially another term for common law. If something is statutory, it is based on laws or statutes. If something is non-statutory, it is based on customs, precedents or previous court decisions.Know More
One of the most commonly used instances of the word statutory is in the phrase statutory rape. This phrase refers to a consensual sexual act between an adult and a minor. The inclusion of the word statutory in this phrase refers to the fact that the encounter is considered rape under the law. However, it is not necessarily rape in the sense of being forced to perform sexual acts against one's will.
Another case in which the words statutory and non-statutory are used is in the discussion of stocks. If someone purchases a stock through an employee stock program or an incentive stock option (ISO), he is buying a statutory stock. If he purchases stocks through another entity or program, he is buying non-statutory stocks. Both statutory and non-statutory stocks are taxed as capital gains, but the way the IRS values these stocks is different.
Although the word statutory is still used regularly, the word non-statutory is not used as often, as most people simply use the phrase common law.Learn more about Law
In the context of government and law, a formal amendment is "an addition or alteration made to a constitution, statute, or legislative bill or resolution," according to the Encyclopedia Britannica. The U.S. Constitution prescribes four possible methods of making a formal amendment to the Constitution, though of these four methods one has been used only once, and two have never been used. In the United States, a formal amendment to the Constitution requires a proposal, approval and ratification process.Full Answer >
A motion for leave is a request to file something that is not automatically allowed under the law. Often, a motion for leave to file is used to request a time extension from the court. Once the court receives the motion, the judge may either grant or deny it.Full Answer >
Statutory rights, also referred to as civil rights, are rights that are defined by the laws of the place in which they are granted to citizens, according to US Legal. For example, the rights to vote or hold property are considered statutory rights since they would not exist without a social structure in place that allows for the institutions of democratic voting and the holding of private property.Full Answer >
To have a common law marriage in Texas, two people must agree to be married, live together as a married couple and tell others that they are married without a wedding ceremony or a marriage license, explains FindLaw. Common law marriage has the same legal status as ceremonial marriage in Texas.Full Answer >