Flashcards: Civil law (common law)

A person may be legally declared dead (declared death in absentia or legal presumption of death) despite the absence of direct proof of the person's death, such as the finding of remains (e.g., a corpse or skeleton) attributable to that person.

In law, abandonment is the relinquishment, giving up or renunciation of an interest, claim, civil proceedings, appeal, privilege, possession, or right, especially with the intent of never again resuming or reasserting it.

Vexatious litigation is legal action which is brought, regardless of its merits, solely to harass or subdue an adversary.

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.

In jurisprudence, a natural person is a person (in legal meaning. i.e., one who has its own legal personality) that is a human being, as opposed to a legal person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organization.

In financial markets, a share is a unit of account for various investments.

Unjust enrichment is a legal concept referring to situations in which one person is enriched at the expense of another in circumstances which the law treats as unjust.

In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today, making it a type of derivative instrument.

A legal recourse is an action that can be taken by an individual or a corporation to attempt to remedy a legal difficulty.

A promissory note is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

A zero-coupon bond (also discount bond or deep discount bond) is a bond bought at a price lower than its face value, with the face value repaid at the time of maturity.

Self-help, in the sense of a legal doctrine, refers to individuals' implementation of their rights without resorting to legal writ or consultation of higher authority, as where a financial institution repossesses a car on which they hold both the title and a defaulted note.

Legal advice is the giving of a professional or formal opinion regarding the substance or procedure of the law in relation to a particular factual situation.

A cheque (or check in American English) is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.

A consumer is a person or organization that uses economic services or commodities.

An intangible asset is an asset that lacks physical substance (unlike physical assets such as machinery and buildings) and usually is very hard to evaluate.

A letter of credit is a document, typically from a bank (issuing bank), assuring that a seller (beneficiary) will receive payment up to the amount of the letter of credit, as long as certain documentary delivery conditions have been met.

In United Kingdom and United States law and business, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company are redistributed.

Superficies is a Latin legal term referring to anything which is placed upon and attached to the ground, and most commonly refers to a building erected on land owned by another.

In United States law, competence concerns the mental capacity of an individual to participate in legal proceedings or transactions, and the mental condition a person must have to be responsible for his or her decisions or acts.

Subrogation is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for one's own benefit.

The age of majority is the threshold of adulthood as recognized or declared in law.

In law, severability (sometimes known as salvatorius, from Latin) refers to a provision in a contract which states that if parts of the contract are held to be illegal or otherwise unenforceable, the remainder of the contract should still apply.

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 counterparty (sometimes contraparty) is a legal entity, unincorporated entity or collection of entities to which an exposure to financial risk might exist.

Consumer cooperatives are enterprises owned by consumers and managed democratically which aim at fulfilling the needs and aspirations of their members.

Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be: * jointly liable, or * severally liable, or * jointly and severally liable.

A class action, class suit, or representative action is a type of lawsuit where one of the parties is a group of people who are represented collectively by a member of that group.

Delict (from Latin dēlictum, past participle of dēlinquere ‘to be at fault, offend’) is a term in civil law jurisdictions for a civil wrong consisting of an intentional or negligent breach of duty of care that inflicts loss or harm and which triggers legal liability for the wrongdoer; however, its meaning varies from one jurisdiction to another.

Legitimacy, in Western common law, has traditionally referred to the status of a child born to parents who are legally married to each other; and of a child conceived before the parents obtain a legal divorce.

Contempt of court, often referred to simply as "contempt", is the offence of being disobedient to or disrespectful towards a court of law and its officers in the form of behavior that opposes or defies the authority, justice, and dignity of the court.

A civil wrong or wrong is a cause of action under the law of the governing body.

A marriage officiant or solemniser is a person who officiates at a wedding ceremony.

Public-Interest Litigation is litigation for the protection of the public interest.

Falsity (from Latin falsitas) or falsehood is a perversion of truth originating in the deceitfulness of one party, and culminating in the damage of another party.

The act of cession is the assignment of property to another entity.

Palestinian law is the law administered by the Palestinian National Authority within the territory pursuant to the Oslo Accords.