Issue Law and Legal Definition
Issue has different meanings depending upon the context it is used.
Issue refers to a point in dispute between two or more parties.
In the context of securities, issue refers to a class or series of securities that are simultaneously offered for sale.
In commercial law, it is the first delivery of a negotiable instrument by its maker or holder.
Issue, in the context of probate law, refers to all lawful, lineal descendants of the ancestor. Descendants are those who are the issue of an individual, such as children, grandchildren, and their children, to the remotest degree. Descendants are those in a descending line of birth from an individual, rather than an ascending line, such as to the parents of the individual. Determining who a person's issue are is commonly necessary to determine who is entitled to share in the estate of a person who dies without a will. State statutes of descent and distribution, which vary by state, provide for the surviving spouse and/or descendants to share in the estate of the deceased. Parents of the deceased often do not share in the estate unless there are no surviving descendants or spouse.
