Flashcards: Business law

A business entity is an entity that is formed and administered as per commercial law in order to engage in business activities, charitable work, or other activities allowable.

A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests.

A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.

The legal name of a business is the name under which the business conducts its operations.

A waybill (UIC) is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods.

Business valuation is a process and a set of procedures used to estimate the economic value of an owner’s interest in a business.

Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation.

Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.

OHADA is a system of business laws and implementing institutions adopted by seventeen West and Central African nations October 17, 1993 in Port Louis, Mauritius.

The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party.

A leave of absence (LOA) is a period of time that one must be away from one's primary job, while maintaining the status of employee.

The Handelsgesetzbuch (HGB, in English Commercial Code) contains the core of the commercial law in Germany.

A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document.

Overtime is the amount of time someone works beyond normal working hours.

Power harassment is harassment or unwelcome attention of a political nature, often occurring in the environment of a workplace including hospitals, schools and universities.

United States labor law sets the rights and duties for employees, labor unions, and employers in the United States.

Agency in English law is a component of UK commercial law, and forms a core set of rules necessary for the smooth functioning of business.

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.

A partenreederei (Plural: Partenreedereien) is a type of partnership under German and German-influenced maritime law for the joint ownership of a merchant vessel.

The Uniform Commercial Code (UCC) currently consists of the following articles: * Art.

In corporate law in Commonwealth countries, an oppression remedy is a statutory right available to oppressed shareholders.

Lex mercatoria (from the Latin for "merchant law"), often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout Europe during the medieval period.

The patentability of software, computer programs and computer-implemented inventions under the European Patent Convention (EPC) is the extent to which subject matter in these fields is patentable under the Convention on the Grant of European Patents of October 5, 1973.

As a legal concept, administrative receivership is a procedure under the insolvency laws of a number of common law jurisdictions.

Trusted Computing (TC) is a technology developed and promoted by the Trusted Computing Group.

A secured creditor takes a security interest to enforce its rights against collateral in case the debtor defaults on the obligation.

Blake, Cassels & Graydon LLP (Blakes); is a Canadian-based international business law firm.

Business.gov is sponsored by the U.

Business method patents are a class of patents which disclose and claim new methods of doing business.

Inslaw, Inc. is a Washington, D.

The interest of the company (sometimes company benefit or commercial benefit) is a concept that the board of directors in corporations are in most legal systems required to use their powers for the commercial benefit of the company and its members.