What is Administration?

Legal Definition
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – in the United Kingdom colloquially called "under administration" – is an alternative to liquidation, or may be a precursor to it. Administration is commenced by an administration order. A company in administrative receivership is operated by an administrator (as interim chief executive with custodial responsibility for the company's assets and obligations) on behalf of its creditors. The administrator may recapitalize the business, sell the business to new owners, or demerge it into elements that can be sold and close the remainder.

Most countries distinguish between voluntary (board-decided) and involuntary (court-decided) receivership. In voluntary administrative receivership, the administrator is appointed by the company directors. In involuntary administrative receivership, the administrator is appointed by a judicial court. The legal terms for these processes vary from country to country, and the processes may overlap.
-- Wikipedia
Legal Definition
Trusts. The management of the estate of an intestate, a minor, a lunatic, an habitual drunkard, or other person who is incapable of managing his own affairs, entrusted to an administrator or other trustee by authority of law. In a more confinedsense, and in which it will be used in this article, administration is the management of an intestate's estate, or of the estate of a testator who, at the time administration was granted, had no executor.

2. Administration is granted by a public officer duly authorized to delegate the trust; he is sometimes called surrogate, judge of probate, register of wills and for granting letters of administration. It is to be granted to such persons as the statutory provisions of the several states direct. In general the right of administration belongs to him who" has the right to the vendue of the personalty: as if A make his will, and appoint B his executor, who dies intestate, and C is the legatee of the residue of A's estate, C has the right of administration cum testamento annexo. 2 Strange, 956; 12 Mod. 437, 306; 1 Jones, 225; 1 Croke. 201; 2 Leo. 55; 1 Vent. 217.

3. There are several kinds of administrations, besides the usual kind which gives to the administrator the management of all the personal estate of the deceased for an unlimited time. Administration durante minore aetate, administration durante absentia, administration pendente lite, administration de bonis non, administration cum testamento annexo.
-- Bouviers Law Dictionary
Legal Definition
Government. The management of the affairs of the government; this word is also applied to the persons entrusted with the management of the public affairs.
-- Bouviers Law Dictionary
Legal Definition
In public law. The administration of government means the practical management and direction of the executive department or of the public machinery or functions or of the operations of the various organs of the sovereign. The term "administration" is also conventionally applied to the whole class of public functionaries or those in charge of the management of the executive department People v. Sals-bury, 134 Mich. 537, 96 N. W. 936.
-- Black's Law Dictionary
Legal Definition
Management; care and control.
-- Ballentine's Law Dictionary