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2012-09-30 15:22:40

Legal English
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  1. non-monetary relief
    remedy that is not money, but rather something else such as an injunction, a declaratory judgment, specific performance or modification of a contract
  2. non-obvious
    quality of an invention being unexpected or surprising or sufficiently different from other existing things. It is often a requirement for obtaining a patent.
  3. non-possessory
    type of security interest whereby the debtor retains control over the property but is limited in what he or she may do with it
  4. notary (or notary public)
    person authorised by the state to conduct limited legal functions, such as authenticating signatures and certifying documents
  5. notice
    document providing notification of a fact, claim, or proceeding
  6. novation
    substitution of an obligation with a new one, thereby cancelling the old obligation
  7. objects
    goals or purposes of a company
  8. objects clause
    section of a company's memorandum of association that outlines the company's objects
  9. obligee
    person to whom a right is owed
  10. obligor
    person who owes a right
  11. offer
    indication of willingness to enter into a contract on specified terms, whereby, if accepted by the other person, a binding contract would result
  12. offeree
    party to whom an offer is made
  13. offeror
    party that displays a Willingness to enter into a contract on specified terms
  14. oligopoly
    market situation in which only a small number of firms compete with each other
  15. on notice of the security interest
    where a security interest exists between a certain creditor and debtor. It occurs on perfection of a security interest.
  16. ordinance
    (US) municipal law (UK by-law)
  17. ordinary course of business
    regular mode of conduct or routine of a trade
  18. ordinary resolution
    (UK) resolution passed by a simple majority of members at the annual general meeting
  19. ordinary shares
    (UK) shares that carry voting rights and dividend entitlements and which are the most common form of shares (US common shares)
  20. paralegal
    non-lawyer, often with some form of specialised legal training, who helps lawyers in their legal work
  21. parallel behaviour
    acting in a similar way to another; for example, setting prices at the same level as a competitor or producing a similar level of output as another in the same business
  22. Parol Evidence
    the rule that evidence, apart from the actual contract itself, cannot modify, explain, vary or contradict the written terms of a contract
  23. party
    person or entity involved in an agreement
  24. passage of title
    exchange of ownership in a property
  25. passing of risk
    the point at which the risk (e.g. of damage) passes from one party to another (and therefore also the responsibility, for example, for insuring goods)
  26. passing off
    illegal type of unfair competition whereby a business does something that the public would reasonably believe to be related to the activities of a different business such that this second business suffers damages as a result
  27. patent
    grant from the government giving exclusive rights to an inventor to make, use or sell an invention for a specified period of time
  28. payee
    person who is being paid in a bill of exchange
  29. pecuniary compensation
    remedy that involves compensating through money
  30. penal law
    (also criminal law) area of law that deals with crime, punishment or penalties