Bonus
Legal Definition and Related Resources of Bonus
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Bonus
A boon or gift over and above what is normally due as a remumeration; something in addition to ordinary compensation and usually paid as an incentive. See management search Inc. v Morgan, 222 S. E.2d 154, 136 Ga. App. 651.
Bonus Alternative Definition
Something over and above, something additional, by way of compensation for something done or omitted; something not a gratuity, but beyond what is regularly due. 16 Wal. 471; 24 Conn. 154. A premium paid to a grantor or vendor or donated sum beyond strict legal right. A consideration given for what is received. Extraordinary profit accruing in the operations of a stock company or private corporation. 10 Ves. 185; 7 Sim. 634; 2 Spence, Eq. Jur. 569. An additional premium paid for the use of money beyond the legal interest. 2 Pars, Cont. 391. In its original sense of "good," the word was formerly much used. Thus, a jury was to be composed of twelve good men (boni homines) (3 Bl. Comm. 349), bonus judex (a good judge) (Co. Litt. 246). An extra or donated sum beyond strict legal right.
Synonyms of Bonus
noun
additive
benefit
boni
boon
bounty
dividend
donation
extra
gift
gratuity
honorarium
incentive
perquisites
pourboire
premium
prime
reward
something over and above
surplus
surplusage
tip
Associated Concepts: bonus stock
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Bonus in Historical Law
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What does Bonus mean in American Law?
The definition of Bonus in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
An extraordinary payment; something in addition to ordinary or legally obligatory compensation. A bonus is not necessarily a gift, however. Some payments called bonuses are just separately denominated components of ordinary compensation, e.g., a payment made to a baseball player to induce him to play for a particular team is called a "bonus," but it is obviously, together with his promised salary, just part of his compensation package. And if a corporate officer is promised a "bonus" if the company"s profits go up 10%, the payment is obligatory if the condition is fulfilled. Indeed, many companies have a "bonus plan" covering many officers and employees, tying their final compensation level to corporate results.
Some bonuses, however, are not obligatory, and if paid are gifts, e.g., a $1,000 "bonus" paid to a long-term employee on retirement in lieu of, say, a gold watch. Hence for most legal purposes, especially taxes, the key question is not whether something is called a bonus, but whether it is or is not a gift.
See also terms beginning with bonus.
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This definition of Bonus Is based on the The Cyclopedic Law Dictionary. This definition needs to be proofread..
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English Spanish Translation of Bonus
Bonificación
Find other English to Spanish translations from the Pocket Spanish English Legal Dictionary (print and online), the English to Spanish to English dictionaries (like Bonus) and the Word reference legal translator.
Concept of "Bona, Bonus, Bonum"
Traditional meaning of bona, bonus, bonum in English (with some legal use of this latin concept in England and the United States in the XIX Century) [1]: (in Latin) Good. Bona fide: in good faith. Bona fides non patitur ut bis idem exigatur: good faith does not suffer the same thing to be twice sued for. Bonae fidei emptor: a purchaser in good faith. Bonae fidei possessor in id tantum quod ad se pervenerit tenetur: a person holding property in good faith is liable [to the real owner] only for those [profits] which have actu ally come to him. Bona gratia: voluntarily. Bona gustura: good behavior. Bona notabilia: goods or chattels of sufficient value to be accounted for. Bona peritura: perishable goods. Bona waviata: goods thrown away by a thief for fear of apprehension.
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Notes and References
Based on A Concise Law Dictionary of Words, Phrases and Maxims, "Bona, Bonus, Bonum", Boston: Little, Brown, and Company, 1911, United States. It is also called the Stimson's Law dictionary. This term and/or definition may be absolete.
See Also
Concept of "Bonus"
Traditional meaning of bonus in English (with some legal use of this latin concept in England and the United States in the XIX Century) [1]: (in Latin) A premium given for a loan; see 24 Com. 147; BONA. Bonus judex secundum aequum et bonum judicat, et aequitatem stricto juri praefert: a good judge decides according to what is just and good, and prefers equity to strict law.
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and publications valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Notes and References
Based on A Concise Law Dictionary of Words, Phrases and Maxims, "Bonus", Boston: Little, Brown, and Company, 1911, United States. It is also called the Stimson's Law dictionary. This term and/or definition may be absolete.
See Also
Bonus