Legal Terms

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Accreditation

Accreditation - the process in which certification of competency, authority, or credibility is presented.

Bankruptcy

Bankruptcy - a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debt...

Collector

Collector – a person, whose job is to collect money from people in owe, e.g. from debtors.

Debtor

Debtor - a person/body/ any other form of party in a transaction which owes money to the other party.

Endorsement

Endorsement - an amendment or annotation to an insurance contract or other official document.

Founder

Founder - a person who has undertaken some or all of the work needed to create a new organization, whether this is a business, a charitable organizati...

Governor

Governor – a public official with the power to govern the executive branch of a non-sovereign or sub-national level of government, ranking under the h...

Holder

Holder - person who officially owns something, e.g. property.

Indexation

Indexation - is a technique to adjust income payments by means of a price index, in order to maintain the purchasing power of the public after inflati...

Judge

Judge - a person who is in charge of a trial in a court and decides how a person who is guilty of a crime should be punished, or who makes decisions o...

Kidnapping

Kidnapping - the unlawful transportation, asportation and confinement of the persons against their will.

Liquidity

Liquidity - the fact of being available in the form of money, rather than investments or property, or of being able to be changed into money easily.

Moratorium

Moratorium – a delay or suspension of an activity or a law.

Neutrality

Neutrality - the condition of being neutral in a disagreement or war.

Obligation

Obligation - a legal or moral duty to do something.

Patronage

Patronage - support, encouragement, privilege, or financial aid that an organization or individual bestows to another.

Quorum

Quorum - the smallest number of people needed to be present at a meeting before it can officially begin and before official decisions can be taken.

Reactionary

Reactionary - opposed to political or social change or new ideas.

Sovereignty

Sovereignty - the full right and power of a governing body over itself, without any interference from outside sources or bodies.

Testimony

Testimony - a formal statement about something, especially one given in a court of law.

Unity

Unity - the state of being joined together or in agreement.

Verdict

Verdict - an official decision made in a court at the end of a trial.

Withdrawal

Withdrawal - the act of taking money out of an account, or the amount of money taken.

Accusation

Accusation - a statement by one person asserting that another person or entity has done something improper, morally wrong, illegal, or unkind, or the ...

Bonification

Bonification - the paying of a bonus (especially in relation to taxes).

Creditor

Creditor - an entity, a company or a person of a legal nature that has provided goods, services, or a monetary loan to a debtor.

Deed of gift

Deed of gift - a signed legal document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property – such ...

Executive Board

Executive Board - a committee composed of the senior management and directly involved in making most of the crucial decisions for an organization.

Franchising

Franchising - a right to sell a company's products in a particular area using the company's name.

Guarantor

Guarantor - a person or company that guarantees that a loan or other type of debt will be paid.

Holding company

Holding company - a company whose main purpose is to control another company or companies through owning shares in it or them.

Investor

Investor - a person who puts money into something in order to make a profit or get an advantage.

Jurisdiction

Jurisdiction - the authority that a particular court of law or official organization has to make laws, rules, or legal decisions.

Lessor

Lessor - a person or organization that allows another person or organization to use something they own in return for regular payments.

Merchandise broker

Merchandise broker – a negotiator between the buyer and the seller of goods.

Negotiation

Negotiation - a formal discussion between people who are trying to reach an agreement.

Objection

Objection - a formal protest raised in court during a trial to disallow a witness's testimony or other evidence in violation of the rules of evide...

Partnership

Partnership - an agreement between organizations, people, etc. to work together.

Quantitative restriction

Quantitative restriction - a trade restriction placed on the amount of an item or service that can be imported into a country.

Ratification

Ratification - the act of voting on a decision or signing a written agreement to make it official.

Sanction

Sanction - an official action taken against a government to force it to behave in a particular way or as punishment for not doing so.

Taxation

Taxation - the process by which the government of a country obtains money from its people in order to pay for its expenses.

Unify

Unify - to bring separate parts of something together so that they are one.

Vandalism

Vandalism - is the action involving deliberate destruction of or damage to public or private property.

Will

Will - an official statement of what a person has decided should be done with their money and property after their death.

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