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 | Glossary, Transactional Glossary
A written amendment to a person’s will, which must be dated, signed and witnessed just as a will would be, and must make some reference to the will it amends. A codicil can add to, subtract from or modify the terms of the original will. When the person dies,...Dec 9, 2013 | Glossary, Transactional Glossary
Property that is promised as security for the satisfaction of a debt.Dec 9, 2013 | Glossary, Transactional Glossary
An agreement between two or more people that creates an obligation to do or not to do a particular thing.