Business Law and Contracts

Latin Terms

Ab initio: From the beginning
Ad hoc: For this purpose
Ad idem: Indicates that the parties to a transaction are in agreement
De facto: In fact
Et al: And others
Et cetera: And other things of the same kind
Exempli gratia: For example
Habeas corpus: A writ requiring a person to be brought before a court or judge
Id est: That is
In lieu of: In place of
Inter alia: Among other things
Ipso facto: By that very fact itself
Jus soli: Law of the land
Mala fide: In bad faith
Mens rea: The state of mind that the prosecution must prove a defendant to have had at the time of committing a crime
Per annum: Per year
Per se: By itself
Pro forma: As a matter of form
Pro rata: Proportionally
Sic: Thus
Sui juris: Of one's own right
Ultra vires: Unauthorized, beyond a person's legal power

Company Law

Acquisition: A company bought by another company
Articles of association: Regulations for the management of a registered company
Assignee: Person who receives assignment
Assignor: Person who transfers their right or duty to another
Corollary: A situation, an argument, or a fact that is the natural and direct result of another one
Creditors: One to whom a debt is owed
Killer bees: Experts employed by a target company to fend off a hostile takeover bid
Memorandum of association: A constitutional document of a registered company
Merger: An amalgamation between companies of similar size
Quorum: The number of shareholders or directors who must be present at a board meeting
Register of companies: An official responsible for compiling and keeping a register
Regulation: A rule or directive made by a government or authority
Respondent: The defending party to an application, appeal, or petition to the courts
Royalties: A sum payable for the right to use someone else's property
Trustee: A person having a nominal title to property that they hold for the benefit of one or more others
Unequivocal: Expressing your opinion or intention very clearly and firmly
White knight: A friendly bidder who is brought in by the target company to outbid a hostile bidder

Contract and Tort

Acceptance: Agreement to the terms of an offer
Actual damages: Compensation for proven injury or loss
Bilateral contracts: A contract that creates mutual obligations
Binding: That must be obeyed because it is accepted by law
Breach of contract: Failure to perform a contractual obligation
Capacity: The ability to give informed consent
Certainty: A clear and precise understanding of the terms of a contract
Compensatory damages: Money awarded by a court in compensation for loss or injury
Consequential damages: Damages that are awarded due to a particular wrong or circumstances
Consideration: Something of value given by one party to another in order to induce the other to contract
Contractual penalty: Payment of money which a party to a contract must pay if it breaks a term of the contract
Counter offer: A new offer made as a reply to an offer received
Damages: A sum of money awarded by a court as compensation for a tort or breach of contract
Duty of care: A duty to take reasonable care to avoid causing harm to others
Exemplary damages: Compensation designed to punish the breaching party
Expectation damages: Compensation for the loss of benefits that a person would have received had the contract been performed
Force majeure: Events possibly affecting the contract and that are completely outside parties' control
Formation: The act of bringing a contract into existence
Frustration: A situation where a contract becomes impossible to perform due to unforeseen circumstances
General offer: An offer made to the world at large
Incidental beneficiary: A person who was not planned to benefit from a contract
Injured party: A person whose legally protected interests have been harmed
Invitation to treat: A preliminary proposal made to another party
Liquidated damages: Compensation that is agreed to in the contract
Medical negligence: A term used to describe the breach of duty of care by a medical professional
Non-breaching party: A party to a contract who has suffered breach by the breaching party
Offeree: A person who receives an offer
Offeror: A person who makes an offer
Pecuniary compensation: A remedy that involves compensating through money
Performance: The completion of obligations required by a contract
Privity of contract: The relationship that exists between the parties to a contract
Prohibitory injunction: A court order that prohibits a person from doing a specific act
Promise: A commitment to do or not to do something
Promisor: A person who makes a promise
Reliance damages: Compensation for losses incurred by the plaintiff due to their dependence on the contract being performed
Remedy: A means of preventing, redressing, or compensating a violation of a right
Restitution damages: Compensation which is equal to the amount of money the breaching party received under the breached contract
Revocation: The act of canceling or annulling a contract
Severability: A clause providing that, in the event that one or more provisions of the agreement are declared unenforceable, the balance of the agreement remains in force
Specific offer: An offer made to a specific person or party
Third-party beneficiary: A person who is not a party to a contract but still benefits from it
Unenforceable contract: A contract that has no legal force
Unilateral contract: A contract in which one party undertakes to do or refrains from doing something
Valid contract: A contract that is legally enforceable
Void contract: A contract that has no legal force from the moment of its making
Voidable contract: A contract that though valid when made, is liable to be subsequently set aside
Warranty: A term or promise in a contract, breach of which will entitle the innocent party to damages

Crime

Accident: An event that occurs unexpectedly and unintentionally
Apostasy: The act of abandoning one's faith or allegiance
Armed robbery: The offence of using force against any person, or putting them in fear of being subjected to force, in order to commit a theft
Arson: The intentional or reckless destruction or damaging of property by fire
Battery: The intentional or reckless application of physical force to another person
Bribery: The common law offence of making improper payments to judges, magistrates, or other judicial officers
Burden of proof: The duty of a party to a litigation to prove a fact or facts in issue
Burglary: The offence of entering a building, ship, or inhabited vehicle as a trespasser with the intention of committing theft
Consent: Agreement by choice, by one who has the freedom and capacity to make that choice
Crime: An act or failure to act that is deemed by statute or by the common law to be a public wrong
Defamation: The publication of an untrue statement about a person that tends to lower his reputation
Drug trafficking: The illegal act of cultivating, manufacturing, transporting, and selling of illegal substances
Drunk driving: Driving while affected by alcohol
Duress: Pressure, especially actual or threatened physical force, put on a person to act in a particular way
Embezzlement: The dishonest appropriation by an employee of any money or property given to him on behalf of his employer
Extortion: A common law offence committed by a public officer who uses his position to take money or any other benefit that is not due to him
Forgery: The making of false documents
Fraud: A false representation made knowingly or recklessly in order to gain a material advantage
Incest: Sexual intercourse between family members
Infancy: The state of being a minor
Insanity: A defect of reason, arising from mental disease, that is severe enough to prevent a defendant from knowing what they did or what they did was wrong
Intoxication: The condition of someone who is drunk or under the influence of drugs
Involuntary manslaughter: The unlawful killing of another person without intent to kill
Joyriding: The offence of taking a vehicle without the owner's consent
Kidnapping: The unlawful detention of a person against their will
Larceny: The act of appropriation of property
Libel: A defamatory statement made in permanent form
Molest: To abuse a person sexually
Money laundering: The act of legitimizing money from organized or other crime
Necessity: A general defence to a criminal offence, usually understood as justification rather than an excuse
Paedophile: A person who is obsessed with children as sex objects
Private defence: Action taken in reasonable defence of one's person or property
Prostitution: The act of selling sex for money
Reasonable doubt: The lack of proof required to prove guilt
Sedition: The speaking or writing of words that are likely to incite public disorder or insurrection
Sentence: Any order made by a court when dealing with an offender
Stalking: Persisting### Legal Concepts
Contributory negligence refers to a person's carelessness for their own safety or interests, which contributes to the damage they suffer, partly due to their own actions and partly due to the fault of another person or persons.
A person is considered convicted when they are found guilty.

Legal Terms

Criminal law deals with crimes and their punishments, including fines and/or imprisonment.
A defendant is a person against whom an action is brought in court.
A delegator is a person who transfers their duty to another.
A directive is an order from a central authority.

Legal Procedures

Discharge refers to releasing a person from an obligation.
Due diligence is the legal obligation of states to exercise all reasonable efforts to protect aliens and their property in the host state.
Governs refers to controlling or influencing someone or something.
Incarceration refers to being confined in jail or prison.

Court Orders and Rulings

An injunction is an official order from a court for a person to do or stop doing something.
A judge is a public official who hears and decides cases in court.
Jurisdiction refers to the territorial limits within which the jurisdiction of a court may be exercised.
A jury is a group of people selected to come to a verdict on a question of fact based on evidence presented in court.

Court Types and Procedures

A magistrate court hears cases that are considered small crimes.
A motion is an application to a court to obtain an order, ruling, or decision.
Novation refers to the substitution of an obligation with a new one, thereby canceling the old obligation.
Parole refers to the early release from prison after serving part of the sentence, usually under supervision and upon certain conditions.

Legal Terms and Concepts

Malfeasance refers to an unlawful act.
Misdemeanor refers to a petty offense, a crime less serious than a felony.
An ordinance is a municipal law.
A prima facie case is a case that has been supported by sufficient evidence for it to be taken as proved, should there be no adequate evidence to the contrary.
A solicitor is a lawyer who is qualified to give legal advice and prepare legal documents.
A statute is a formal written law created by a legislative body, such as parliament, as opposed to a law created through the courts.
Versus refers to "against".