Screening & Risk mitigation Glossary*
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Kanagaroo court: Term descriptive of a sham legal proceeding in which a person's rights are totally disregarded and in which the result is a foregone conclusion because of the bias of the court or other tribunal.
Kentucky rule: In the allocation of dividents by trustees as between income and principal, all dividends whether paid in cash or stock are regarded as income through in most jurisdictions accepting this rule a dividend paid in the stock of the issuing corporation is considered principal and brings about an adjustment in the basis of such stock in the portfolio.
Kissing the book: The ceremony of touching the lips to a copy of the Bible, used in administering oaths. It is the external symbol of the witness' acknowledgement of the obligation of the oath.
Knowingly and willfully: This phrase, in reference to violation of a statute, means consciously and intentionally.
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