Dec 9, 2013 | Corporate Glossary, Glossary, Litigation Glossary, Transactional Glossary
In law, this is another name for a contract including all the elements of a legal contract: offer, acceptance, and consideration (payment or performance), based on specific terms.Dec 9, 2013 | Corporate Glossary, Estate Planning Glossary, Glossary, Litigation Glossary, Transactional Glossary
An agent or someone authorized to act for another, who has been qualified by a state or federal court to provide legal services, including appearing in court. Each state has a bar examination which is a qualifying test to practice law.Dec 9, 2013 | Corporate Glossary, Glossary, Litigation Glossary, Transactional Glossary
Failing to perform any term of a contract, written or oral, without a legitimate legal excuse. This may include not completing a job, not paying in full or on time, failure to deliver all the goods, substituting inferior or significantly different goods, not providing...Dec 9, 2013 | Corporate Glossary, Glossary
All the law which applies to the rights, relations and conduct of persons and businesses engaged in commerce, merchandising, trade and sales. In recent years this body of law has been codified in the Uniform Commercial Code, which has been almost universally adopted...Dec 9, 2013 | Corporate Glossary, Glossary
Debts incurred for personal, as opposed to business, needs.Dec 9, 2013 | Corporate Glossary, Estate Planning Glossary, Glossary, Litigation Glossary, Transactional Glossary
Legal advice; a term also used to refer to the lawyers in a case.