Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Black's Law Dictionary: 2nd Edition

    Occurring or recurring once in each year; continuing for the period of a year; accruing within the space of a year; relating to or covering the events or affairs of a year. State v. McCullough, 3 Nev. 224. tnin whether the standard fineness and weight of the coinage is mnintained. See Rev. St. U. S. § 3547 (U. S. Comp. St. 1901,. p. 2370).
    — Annual income. Annual income la annual receipts from property. Income means that which comes in or is received from any business, or investment of capital, without reference to the outgoing expenditures. Betis v. Betts, 4 Abb. N. C. (N. Y.) 400.'
    —Annual pension. In Scotch law. A yearly profit or rent.
    —Annual rent. In Scotch law. Yearly interest on a loan of money.
    —Annual value. The net yearly income derivable from a given piece of property ; its fair rental value for oue year, deducting costs and expenses; the value of iis use for a year.