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1. In commercial and property law, property to which one has legal title and of which one is in possession. The term may be used to refer specifically to ownership of stocks or shares of corporations.

2. In procedure, any ruling of the court, including rulings upon the admissibility of evidence or other questions presented during trial. Compare dictum. Source: Barron's Dictionary of Legal Terms, Steven H. Gifis, 5th Edition; ©
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