Card Set Information

2012-09-30 15:16:16

Legal English
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  1. assignment of rights
    transfer of rights to another person such that the person to whom the rights have been transferred receives full benefits under the contract
  2. assignor
    person who transfers his/her rights or duties to another
  3. associate
    junior lawyer in a law firm
  4. attachment
    seizure or taking into custody by virtue of a legal process
  5. attachment lien
    prejudgment lien, provisional in nature, created in assets seized in accordance with a court order or a writ of attachment
  6. authorised share capltal
    amount of stock a company may offer to its shareholders. It is also known as nominal capital. (US authorized shares)
  7. bailiff
    (UK) an officer of the sheriff who makes arrests and serves writs; (US) a court officer who keeps order during court proceedings
  8. balance sheet
    financial statement showing a company's assets. liabilities and equity on a given date
  9. bar examination
    (US) written examination taken by prospective lawyers in order to qualify to practise law
  10. Bar Vocational Course
    (UK) required course to be taken by law graduates wishing to practise law as a barrister. This is followed by a period of pupillage.
  11. barriers to entry
    obstacles which make it difficult for a business to enter into a market. Some examples include patents, customer loyalty, research and development, distributor or supplier agreements, and government regulations.
  12. barrister
    (UK) lawyer admitted to plead at the bar and in superior courts; a member of one of the Inns of Court
  13. barristers' chambers
    offices of barristers or a group of barristers
  14. beneficiary
    person entitled to draw payment
  15. 'benefit of the bargain' damages
    see expectation damages; Benefit-of-the-bargain damages mean all damages that a breaching party to a contract must pay to the injured party.
  16. bill
    formal proposal for legislation
  17. bill of exchange
    (UK) negotiable instrument for a specified sum of money which is written and names three parties: the drawer (the person paying), the drawee (the person who will conduct payment) and the payee (the person who receives the payment)
  18. board of directors
    group of individuals elected by shareholders to make the major decisions of the company
  19. bona-fide purchaser for value
    someone who holds a negotiable instrument in good faith
  20. bonus
    payment above what was due or expected
  21. boutique firm
    law firm that specialises in a specific area of law
  22. breach of contract
    failure to perform a contractual obligation or interference with another party's performance which incurs a right for the other party to claim damages
  23. brief
    document or set of documents containing the details of a court case
  24. by-law
    (UK) municipal law (US ordinance) bylaws (US) document that defines a company's internal organisation (UK articles of association)
  25. call to the Bar
    (UK) granting of permission to practise law as a barrister (US admission to the Bar)
  26. capital structure
    distribution of a company's debt and stock
  27. capitalisation
    act of providing capital for a company through the issuance of securities
  28. capitalisation Issue
    process whereby a company's money is converted into capital and then distributed to shareholders as new shares
  29. cartel
    group of similar independent companies who agree to join together to control prices and limit competition
  30. case law
    (also common law, judge-made law) body of law formed through judicial/court decisions, as opposed to law formed through statutes or written legislation