Card Set Information

2012-09-30 15:26:18

Legal English
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  1. trustee
    person who holds something in trust for someone else
  2. trustee in bankruptcy
    person appointed to handle the affairs of a bankrupt party
  3. trustee in sequestration
    person appointed to handle the property of another person until the court determines the ownership of that property
  4. trustee under a deed of arrangement
    person determined by contract to handle the property and affairs of an insolvent person while debts are being paid and creditors' claims are being settled
  5. trustee under a trust of deed
    person who holds legal title for real property of another person who has pledged that property as collateral for a loan
  6. ultra vires
    (Latin) unauthorised, beyond a person's legal power
  7. unauthorised use
    sale, licensing or otherwise dealing, especially with a view to profit, of a copyright that is done without the authority of the person who possesses the copyright
  8. undertakings
    (UK) enterprise, a company or a group of companies (US business, firm or enterprise)
  9. unfair dismissal
    unjust termination of an employee's employment contract. The question is whether the employer acted reasonably in dismissing the employee.
  10. Uniform Commercial Code (UCC)
    (US) act harmonising the law of sales and commercial transactions in all states in the US
  11. uniform rules
    sets of rules created by recognised organisations aimed at harmonising international practices in different areas of the law (e.g. Uniform Rules For Demand Guarantees (URDG))
  12. uniform trade terms
    set of terms created by a recognised organisation such as the International Chamber of Commerce (ICC) in order to harmonise trade practices across international borders
  13. United Nations Convention on the Contracts for the International Sale of Goods Act (CISG)
    convention of the United Nations which sets forth rules governing contracts for the international sale of goods
  14. usufruct
    right to use another person's property for a period of time. to be later restored to the owner with only ordinary wear and tear
  15. versus (vs. or v.)
    (Latin) against
  16. vertical merger
    combining of two or more firms who are at different levels in the economic supply chain, for example producer and distributor
  17. vest
    to give full title to a property to a person; 2) to give a person an immediate fixed right
  18. videlicet (viz.)
    (Latin) as follows
  19. voluntary liquidation
    (UK) termination of a company's business that is supported by company shareholders (US dissolution or winding-up)
  20. warranty of title
    guarantee that the seller has title to the property being sold, that there are no liens or encumbrances on the property other than those that have been disclosed. and that the transfer of property is valid
  21. winding-up
    process of ending the carrying on of a business through the settlement of liabilities and the distribution or liquidation of assets
  22. writ
    document informing someone that they will be involved in a legal process and instructing them what they must do
  23. written resolution
    written expression of an intention or opinion decided at a meeting