What is BONUS? Definition of BONUS in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
A consideration or premium paid by a company for a charter or other franchise or privilege. Com. v. Transp. Co., 107 Pa. 112; for privilege of carrying on corporate business, United Gas Improvement Co. v. Burnet, C.C.A.3, 64 F.2d 957, 958. A consideration for what is received, and advantage or benefit given in return for a benefit received, or an inducement for conferring a benefit. Church v. Winship, 175 La. 816, 144 So. 585, 586. "A definite sum to be paid at one time, for a loan of money for a specified period, distinct from and independently of the interest." Association v. Wilcox, 24 Conn. 147. A gratuity to which the recipient has no right to make a demand. Walling v. Plymouth Mfg. Corporation, C.C.A.Ind., 139 F.2d 178, 182. A premium or extra or irregular remuneration in consideration of offices performed or to encourage their performance. Willkie v. Commissioner of Internal Revenue, C.C.A.6, 127 F.2d 953, 956. A premium paid to a grantor or vendor. An advance royalty. Sneed v. Commissioner of Internal Revenue, C.C.A.Tex., 119 F.2d 767, 770. An "arbitrary award" given without reference to qualifications for position. Thomas v. Kern, 280 N.Y. 236, 20 N.E.2d 738, 740. 'An extra consideration given for what is received, or something given in addition to what is ordinarily received by, or strictly due, the recipient. La Juett v. Coty Mach. Co., 153 Misc. 410, 275 N.Y.S. 822. An increase in salary or wages in contracts of employment. Attorney General v. City of Woburn, 317 Mass. 465, 58 N.E.2d 746, 747. An offer to employees to procure efficient and faithful service. Roberts v. Mays Mills, 184 N.C. 406, 114 S.E. 530, 532, 28 A. L.R. 338; Duffy Bros. v. Bing & Bing, 217 App.
Div. 10, 215 N.Y.S. 755, 758. Any premium or advantage. Consideration or down payment for mineral lease or transfer of oil lands. State Nat. Bank of Corpus Christi v. Morgan, Tex.Civ.App., 123 S.W.2d 1036, 1038; In re Levy, 185 Okl. 477, 94 P.2d 537, 539; Gift in recognition of officer's past successful direction of corporate affairs. Thomas v. Commissioner of Internal Revenue, C.C.A.La., 135 F.2d 378, 379. "Interest" for the purpose of 'the usury law. Bowen v. Mt. Vernon Say. Bank, 70 App.D.C. 273, 105 F.2d 796, 797.
The word "bonus" may in its natural import imply a gift or gratuity. Carson v. Olcott, 105 Or. 259, 209 P. 610, 611. No distinction may be made between a soldier's "bonus" given for past service and a "pension," the one being a reward for past military services payable at once, and the other such a reward payable in installments. People v. Westchester County Nat. Bank of Peekskill, 231 N.Y. 465, 132 N.E. 241, 243, 15 A.L.R. 1344.
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That's the definition of BONUS in Black's Law Dictionary - Legal dictionary - Glossary of legal terms. Courtesy of Cekhukum.com.
