Studydroid is shutting down on January 1st, 2019

by juu


keywords:
Bookmark and Share



Front Back
ACCEPTANCE
an agreement to an offer resulting in a contract
ACCORD AND SATISFACTION
an agreement made and executed in satisfaction o fht rights one has from a previous contract.
AGENT
The party appointed by the principal to enter into a contract with a third party on behalf of the principal.
AGENCY
The relationship that exists between a person identified as a principal and another by virtue of which the latter may make contracts with third persons on behalf of the principal.
ALIEN CORPORATION
One that is incorporated in a foreign country.
ANSWER
Official document detailing a defendant's defense.
ANTITRUST
Laws which seek to promote competition among business.
APPARENT AUTHORITY
The authority an agent is believed by third parties to have because of the behavior of the principal.
APPEAL
Request to a higher court to review a lower court's decision.
APPELLATE COURTS
Courts hearing cases appealed from a lower court.
ARRAIGNMENT
Charging a person with a crime and asking for that person's plea.
ARREST
To take into police custody.
ASSIGNEE
The party to whom the assignment is made.
ASSIGNMENT
A means whereby one party in a contract conveys rights to another person, who is not a party to the original contract.
ASSIGNOR
The party making the assignment.
AUTHORITY
Power to act for someone else.
BAILEE
The party who acquires possession but not the title, of personal property by one party to another, under agreement.
BAILMENT
The transfer of possession, but not the title of personal property by one party to another, under agreement.
BAILOR
The party who gives up possession, but not the title, of personal property in a bailment.
BEARER
A person in possession of an instrument.
BEARER PAPER
A commercial paper made payable to bearer; i.e. to the person having possession as specified in a will.
BENEFICIARY
Recipient of the proceeds of a life insurance policy; one who inherits property as a specified in a will.
BILATERAL CONTRACT
A contract which consists of mutual promises to perform some future acts.
BILL OF LADING
The contract existing between the consignor (shipper) and the carrier.
BILL OF SALE
A document of conveyance which provides written evidence of title to tangible personal property.
BLANK INDORSEMENT
Having no words other than the signature of the indorser.
BOARD OF DIRECTORS
A body of persons elected by the stockholders to define and establish corporate policy.
BOOKING
Administrative step taken after an arrested person is brought to police station, which involves entry of the person's name, the crime for which the arrest was made, and other relevant facts on the police "blotter", and which may also include photographing, fingerprinting and the like.
BREACH OF CONTRACT
A situation in which one of the parties to a contract fails or otherwise refuses to perform the obligations established in that contract.
BUSINESS LAW
Those rules of conduct prescribed by a government and its agencies in regulating business transactions.
CASHIERS CHECK
A check drawn on a bank's own funds and signed by a responsible bank official.
CERTIFICATE OF DEPOSIT
The acknowledgment by a bank of a receipt of money with an agreement of repayment.
CERTIFIED CHECK
A check for which the bank assures that the drawer has sufficient funds to make payment.
CHECK
An order by a depositor on the bank to pay a sum of money to a payee.
CIVIL LAW
The body of law concerned with private or purely personal rights.
CLOSE (CLOSELY HELD) CORPORATION
A designation which applies to a corporation in which outstanding share of stock and managerial control are held by a limited number of people (often members of the same family).
COMMERCIAL PAPER (NEGOTIABLE INSRUMENT)
A writing drawn in a special form which can be transferred from person to person as a substitute for money or as an instrument of credit.
COMMON LAW
Customs which have become recognized by the courts as binding on the community.
COMPENSATORY DAMAGES
An award paid to the injured party to cover the exact amount of their loss, but no more.
COMPLAINT (PETITION)
The written request which initiates a civil lawsuit.
CONSIDERATION
That which the promisor demands and receives as the price for a promise.
CONSIGNEE
One to whom goods are shipped by common carrier.
CONSIGNOR
One who ships goods by common carrier.
CONTRACT
An agreement between tow or more competent persons which is enforceable by law.
CONTRACT TO SELL
A seller agrees to transfer title to goods to buyer for a consideration (price) at a future time.
CONTRACTUAL CAPACITY
The necessity that the parties desiring to enter into contracts meet all requirements.
CORPORATION
A business entity created by statutory law and owned by individuals known as stockholders.
COUNTEROFFER
An intended acceptance which changes or qualifies an original offer, and in effect, rejects that offer and becomes a new offer.
CREDITOR BENEFICIARY
A person who is not a party to a contract to whom the promisor of a contract owes an obligation or duty.
CRIME
An offense which is injurious to society as a whole.
x of y cards Next > >> >|