Definitions Flashcards
(36 cards)
Ab initio
From the beginning
Action
A civil proceeding commenced by writ, summons or statement of claim or in such other manner as may be allowed by the court rules.
Ad hoc
For this purpose
Ad idem
In agreement; In accord
Ante
Earlier; Previously
Attachment
Attachment of debts
Baliee/ Bailor
Parties to Bailment
Bond
A contract under seal to pay a sum of money
Broker
A mercantile agent for the purchase and sale of goods, stocks and shares, policies or insurance etc. Remuneration for the broker is known as brokerage
Caveat
A warning made in proper form to a court or registrar to prevent any step being taken without notice first given to the person entering the caveat
Caveat Emptor
Let the buyer beware
Company
A body of persons asscociated together for the purpose of trade or business. It may be incorporated by; (a) Royal Charter, (b) special Act of Parliament or (c) registration under the corporations Act
Consensus ad idem
agreement as to the same thing
Contra Proferentum
Contrary to the interest of the party who prepared and seeks to rely upon ambigous documents
De facto
In fact.
De jure
By right
De minimis non curat lex
The law does not concern itself with small things
De novo
Anew
Debt
A certian sum due from one person to another, either record or under specialty or under simple contract
Deed
A written instrument signed, sealed and delivered or deemed by stature to be so, to testify to the matter contained therein
Default
Ommision to do what ought to be done
Discharge
Release of a bankrup from all debts provable in bankrupty
Donee/ Donor
A person who recieves/ makes a gift
Ex Gratia
As a favour, rather than on the basis of legal liability