Card Set Information

2012-09-30 15:19:29

Legal English
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  1. expert witness
    person who the court considers to possess specialised knowledge or skill and who is allowed to offer an opinion as testimony in court
  2. express contract
    contract whose terms have been specifically outlined, either in writing or orally
  3. express warranty
    guarantee that is created by the seller, whether oral or written
  4. extraordinary general meeting (EGM)
    (UK) any meeting of the shareholders of a company other than the annual general meeting which is called to discuss certain special issues of a company (US special meeting)
  5. fair dealing
    (UK) see right of fair use; (US) duty of full disclosure imposed on corporate directors, officers and parties to a contract
  6. fair use
    (US) see right of fair use
  7. fee simple
    whole interest in a piece of real property; the broadest interest in property allowed by common law
  8. fee tail
    estate which lasts as long as the original grantee or any of his descendants live
  9. fiduciary duty
    obligation to act solely in the best interests of another
  10. file with
    to officially record (e.g. in a court of law)
  11. financing measures
    methods of securing funds or money
  12. first-in-time
    rule which distinguishes which creditor has first claim over a debtor's assets
  13. fitness for a particular purpose
    if a buyer is buying property for a certain reason and the seller knows this, then this warranty exists by law to guarantee that the property is suitable for that certain reason. Sometimes referred to as warranty of fitness.
  14. fixed charge
    (UK) grant of security for a loan on a specific asset or on specific assets whereby the creditor has first claim to recover upon default by the debtor (US security interest in specific assets; (prior to UCC) chattel mortgage)
  15. floating charge
    (UK) form of security interest over the debtor's assets which may change on a daily basis, such as stock; a grant of security for a loan on the company's assets in general, and not on any specific asset (US "oating lien)
  16. force of law
    refers to provisions or actions which may be enforced as law in the relevant jurisdiction; such provisions and actions have the force of law
  17. foreseeability
    reasonable anticipation of possible results of an action
  18. foreseeability rule
    rule that states that damages are only recoverable when it can be established that the damage was reasonably anticipated by the breaching party at the time the contract was entered into
  19. form
    model document or agreement with blank spaces to be filled in
  20. formation
    act of bringing a contract into existence
  21. forum
    place, situation or meeting in which people can discuss a particular matter (especially one of public interest)
  22. forum non conveniens
    (Latin) rule regarding the discretionary power of a court to decline to accept a case where it believes it is inconvenient for the parties and would be properly tried somewhere else
  23. forum shopping
    filing a lawsuit in the jurisdiction (of several available) most likely to bring a favourable outcome for the claimant
  24. fraud
    deliberate misrepresentation or concealment of a material fact to gain an advantage
  25. fraud in the inducement
    act of misrepresenting or misleading someone so as to entice them to enter into a contract or agreement
  26. freehold estate
    property whose duration of ownership or occupation is not determined
  27. friendly takeover
    situation where a company attempts to buy another company with approval of the board of directors of the company that is being bought
  28. gain control
    to obtain the power to direct or have influence over the management of a company
  29. garnishment
    claim or interest resulting from a legal proceeding in which party A (creditor) requests a court to issue an order or writ against party B (garnishee) holding property of or owing money (e.g. bank account or wages) to party C (debtor) to release the relevant property or money to the creditor; 2) the whole process involved in the legal proceedings described in 1) above
  30. general creditor
    creditor who has no lien or security for payment against the debtor's assets (also known as an unsecured creditor)