ILEC_01.txt

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Anonymous
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174474
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ILEC_01.txt
Updated:
2012-09-30 15:15:17
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ILEC
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Legal English
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  1. abuse of a dominant position
    (UK) situation that occurs when one firm is in a position to be able to act completely independently of its competitors, customers or consumers, remaining profitable and engaging in conduct that is likely to impede effective competition in that market. It is this last part, the hindrance of effective competition, which is prohibited in most jurisdictions rather than the mere situation of dominance. Some examples of abusive behaviour include the refusal to grant licences, geographical price discrimination, unjustified refusal to supply or predatory pricing. (US abuse of monopoly power)
  2. acquired company
    (UK) company that has been merged into another company and is therefore no longer in existence (US transferor)
  3. acquirer
    company that gains control over another company
  4. acquiring company
    (UK) company that has gained control over another company through a merger and remains in existence after the merger (US survivor) acquisition of controlling shares purchase of shares owned by shareholders who have a controlling interest
  5. actual damages
    see general damages; the amount of money that a court orders to be paid to someone in return for something that has been lost or damaged: The jury originally awarded actual damages of $2.5 million in the case and $22.5 million in punitive damages.
  6. ad hoc
    (Latin) for this purpose
  7. adjudicate
    to make a formal decision about something; to act as judge in a dispute
  8. admit someone to the Bar
    (US) to grant a person permission (from a Bar association) to practise law (UK call someone to the Bar)
  9. adopt Into law
    to accept as part of a greater system of laws through legislative process
  10. adversarial system
    system where two sides disagree with and oppose each other
  11. advocate
    person who pleads in court
  12. affidavit
    written statement which might be used as proof in court that somebody makes after they have sworn officially to tell the truth
  13. alienability
    possibility to be transferred
  14. annual general meeting (AGM)
    yearly meeting of shareholders of a company where various company actions may be presented and voted upon
  15. answer
    principal pleading by the defendant in response to a complaint
  16. anticipatory breach
    breach of contract committed before performance is due. The non-breaching party may regard this as an immediate breach and sue for damages.
  17. anti-competitive
    (UK) describes conduct that harms the market or limits competition among businesses (US restraint of trade)
  18. antitrust
    (US) body of law that regulates business activities and markets, especially agreements and practices that limit competition (UK competition law)
  19. apparent authority
    power which an agent appears to have, or holds himself out as having, and which a third party reasonably believes actually exists, though not formally granted by its principal/employer
  20. appellant
    person who appeals a decision to a higher court (US) see petitioner
  21. appellate court
    (also court of appeal, appeals court) court which reviews judgments held by lower courts
  22. arbitral award
    decision of a panel of one or more people who officially decide how an argument between two disputing parties should be settled. It is the arbitral equivalent of a judgment in a court of law.
  23. arbitration
    reference of a dispute to an impartial person or panel chosen by the parties who agree in advance to abide by the arbitration award issued after the hearing at which both parties have an opportunity to be heard
  24. arbitration clause
    clause in a contract that, among other things. requires the parties to arbitrate disputes arising under the contract
  25. articles of association
    (UK) document that defines a company's internal organisation (US bylaws)
  26. asset
    any property that is owned and has value
  27. asset protection
    method of minimising the risk of loss of one's property from business and personal liabilities
  28. assign
    to transfer (rights) to another
  29. assignee
    person who receives an assignment
  30. assignment of contract
    transfer of a contract to another person

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