Define: Source of Income

How is Source of Income defined in a legal contract?

• Source of Income means a party or entity that owes or will owe monetary compensation to another party. Seen in 33 SEC filings.
• Source of Income means the transparent condition of receiving federal, state, or local assistance, including medical assistance, or being a recipient of subsidies, including rental assistance or rent supplements. Seen in 22 SEC filings.
• Source of Income means the initiation, cause, or form of gains of property accruing to a person over a certain period, including but not limited to, income and property from any activity, profession, contract, settlement, federal payments, court-ordered payments, gifts, annuities, life insurance policies, and compensation for illness or injury, except where a conflict of interest may exist. Seen in 15 SEC filings.
• Source of Income means the means by which a person supports themselves and their dependents, including but not limited to, income and property from any activity, profession, contract, settlement, agreement, federal or state payments, court-ordered payments, gifts, annuities, life insurance policies, and compensation for illness or injury. Seen in 14 SEC filings.
• Source of Income means the legitimate manner by which an individual supports themselves and their dependents. Seen in 10 SEC filings.
• Source of Income means the entity which payment originates from; if the individual is employed by another, the employer is the source of income. Seen in 9 SEC filings.
• Source of Income means income such as wages, salary, benefits, compensation payments. Seen in 6 SEC filings.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of source of income' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Source of Income means any party, activity, or entity legally obligated to provide monetary compensation to another.

Relevant Contract Types

• Employment Contract
• Independent Contractor Agreement
• Consulting Agreement
• Franchise Agreement
• Lease Agreement

Relevant Circumstances

• Hiring an employee or independent contractor
• Establishing a franchise business
• Renting out property

Relevant Sectors

• Human Resources
• Real Estate
• Franchise Business

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Genie Definition 2

• Source of Income means a state of receiving consistent legal assistance or subsidies.

Relevant Contract Types

• Rental Agreement
• Financial Aid Agreement

Relevant Circumstances

• Renting a property under a subsidy scheme
• Receiving financial aid or assistance

Relevant Sectors

• Real Estate
• Education

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