Looseleaf Service Law and Legal Definition
Looseleaf service refers to a type of law book having pages that are periodically replaced with updated pages. However, it is designed to cope with constant change and increasing bulk. The first looseleaf service covered the federal income tax and it was first published in 1913. in 1914, looseleaf service reported on the activites of the Federal Trade Commission, which had just been established.
The looseleaf method was, therefore, first used as a means of reporting new tax and business laws which were to be subject to administrative interpretation. Nevertheless, these first looseleasg method were designed not to reprint just the bare text of the revenue and commission acts, but to follow up and report each new development on these new laws as it occurred.
Legal Definition list
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