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Forged endorsement

Forged endorsement is a type of fraudulent payment. For example, someone may write a cheque with a forged signature. In this case the forged signature makes the endorsement fraudulent. Forging endorsements can be use to prevent the person or lega ...

Fraudulent trading

Where during the course of a winding-up, it appears to the liquidator that fraudulent trading has occurred, the liquidator may apply to the court for an order any persons who were knowingly parties to the carrying on of such business are to be ma ...

Holder (law)

Holder is a term used to any person that has in his custody a promissory note, bill of exchange or cheque. It should be entitled in his own name. Holder means a person entitled in his own name to the possession of a negotiable instrument and to r ...

Hospitality law

Hospitality law is a legal and social practice related to the treatment of a persons guests or those who patronize a place of business. Related to the concept of legal liability, hospitality laws are intended to protect both hosts and guests agai ...

Independent contractor

An independent contractor is a person, business, or corporation that provides goods or services under a written contract or a verbal agreement. Unlike employees, independent contractors do not work regularly for an employer but work as required, ...

Industrial relations

Industrial relations or employment relations is the multidisciplinary academic field that studies the employment relationship; that is, the complex interrelations between employers and employees, labor/trade unions, employer organizations and the ...

Interest of the company

The interest of the company 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. At common law, transactions which were not oste ...

Joint venture

A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new ...

JSC BTA Bank v Ablyazov

JSC BTA Bank v Ablyazov is a high-profile case before the High Court of England & Wales. JSC BTA Bank v Ablyazov and its related complaints, judgements and appeals involve JSC BTA Bank in Kazakhstan and its former chairman Mukhtar Ablyazov, whom ...

Law and management

The Law & Management approach is a term defined by Antoine Masson and Hugh Bouthinon-Dumas, researchers at ESSEC, to refer to any research works focusing on Law as a key factor for companies success. The Law & Management approach, unlike the Econ ...

Law of agency

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 to create lega ...

Lease

A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased. Broadly put, a lease agreement ...

Leave of absence

A leave of absence or simply leave, is a period of time that one must be away from ones primary job, while maintaining the status of employee. The term may be used more restrictively to exclude other periods away from the workplace, with LOA used ...

Legal aspects of workplace bullying

The law for workplace bullying is given below for each country in detail. Further European countries with concrete antibullying legislation are Belgium, France, and The Netherlands.

Legal governance, risk management, and compliance

Legal Governance, Risk Management, and Compliance or "LGRC", refers to the complex set of processes, rules, tools and systems used by corporate legal departments to adopt, implement and monitor an integrated approach to business problems. While G ...

Legal tender

Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered in payment of a debt ...

Lessor (leasing)

Lessor is a participant of the lease who takes possession of the property and provides it as a leasing subject to the lessee for temporary possession. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee. The ...

License

A license or licence is an official permission or permit to do, use, or own something. A license can be granted by a party to another party as an element of an agreement between those parties. A shorthand definition of a license is "an authorizat ...

Lien

A lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has th ...

Limited liability

Limited liability is where a persons financial liability is limited to a fixed sum, most commonly the value of a persons investment in a company or partnership. If a company with limited liability is sued, then the claimants are suing the company ...

Limited partnership

A limited partnership is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners, a limited partnership must have at least one GP and at least one limited partner. The ...

List of financial regulatory authorities by country

Uganda Capital Markets Authority Uganda CMA Insurance Regulatory Authority of Uganda Securities and Commodities Authority - SCA Dubai International Financial Centre Authority DIFCA United Arab Emirates United Arab Emirates Dubai - Dubai Financial ...

Loan-Out Corporation

A Loan-Out corporation, also known as a Loan-Out Company, or Personal service corporation, is a form of U.S. business entity in which the creator is an employee whose services are loaned out by the corporate body. The creator of the corporation a ...

Mandatory labelling

Mandatory labelling or labeling is the requirement of consumer products to state their ingredients or components. This is done to protect people with allergies, and so that people can practice moral purchasing. Mandatory labelling is mandated in ...

Negative option billing

Negative option billing is a business practice in which customers are given goods or services that were not previously ordered, and must either continue to pay for the service or specifically decline it in advance of billing. This is, for example ...

Negotiable instrument

In terms of Nonnegotiable and negotiable instruments, a negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specificall ...

Novation

Novation, in contract law and business law, is the act of – adding an obligation to perform; or replacing an obligation to perform with another obligation; or replacing a party to an agreement with a new party. In international law, novation is t ...

OHADA

OHADA is a system of corporate law and implementing institutions adopted by seventeen West and Central African nations in 1993 in Port Louis, Mauritius. OHADA is the acronym for the French Organisation pour lharmonisation en Afrique du droit des ...

Open-book contract

In an open-book contract, the buyer and seller of work/services agree on which costs are remunerable and the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the ...

Operating lease

The expression operating lease" is somewhat confusing as it has a different meaning based on the context that is under consideration. From a product characteristic stand point, this type of a lease, as distinguished from a finance lease, is one w ...

Order (business)

In business or commerce, an order is a stated intention, either spoken or written, to engage in a commercial transaction for specific products or services. From a buyers point of view it expresses the intention to buy and is called a purchase ord ...

Ordinary course of business

In United States law, the ordinary course of business covers the usual transactions, customs and practices of a certain business and of a certain firm. This term is used particularly to judge the validity of certain transactions. It is used in se ...

Output contract

An output contract is an agreement in which a producer agrees to sell his or her entire production to the buyer, who in turn agrees to purchase the entire output. Example: an almond grower enters into an output contract with an almond packer: thu ...

Participation (ownership)

In finance, "participation" is an ownership interest in a mortgage or other loan. In particular, loan participation is a cooperation of multiple lenders to issue a loan to one borrower. This is usually done in order to reduce individual risks of ...

Partnership

A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or c ...

Pension regulation

Pension regulation is a legal term encompassing, the set of laws, rules and authoritative standards governing the pension industry, and the procedures needed to enforce them. Pension regulation varies widely from one jurisdiction to another - not ...

Perfection (law)

In law, perfection relates to the additional steps required to be taken in relation to a security interest in order to make it effective against third parties or to retain its effectiveness in the event of default by the grantor of the security i ...

Power harassment

Power harassment is harassment or unwelcome attention of a political nature, often occurring in the environment of a workplace including hospitals, schools and universities. It includes a range of behavior from mild irritation and annoyances to s ...

Practicing without a license

Practicing without a license is the act of working without the licensure offered for that occupation, in a particular jurisdiction. Most activities that require licensure also have penalties for practicing without a valid, current license. In som ...

Principal (commercial law)

In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party. This branch of law is called agency and relies on the common law proposition qui facit per ...

Process agent

A process agent is a representative upon whom court papers may be served. In the US, the role is generally a requirement of US State law and is known as a registered agent, a resident agent or statutory agent. Process agents are also utilized in ...

Product defect

A product defect is any characteristic of a product which hinders its usability for the purpose for which it was designed and manufactured. Product defects arise most prominently in legal contexts regarding product safety, where the term is appli ...

Recharacterisation

Recharacterisation in law means the treatment of a certain course of conduct in a different manner to which the participants describe it. The term is most important in the penal law of Continental legal systems. In some civil law countries, judge ...

Refusal to deal

Though in general, each business may decide with whom they wish to transact, there are some situations when a refusal to deal may be considered an unlawful anti-competitive practice, if it prevents or reduces competition in a market. The unlawful ...

Relational contract

A relational contract is a contract whose effect is based upon a relationship of trust between the parties to which it pertains. The explicit terms of the contract are just an outline as there are implicit terms and understandings which determine ...

Retained interest

Retained interest is future, currently unpaid, interest that some lenders add to the remaining principal of a loan to determine a payout figure in the event that the loan is terminated before the completion of the original term. When two parties ...

Retroactive overtime

Retroactive overtime ROT is an additional amount of money that is awarded when an employee has a combination of overtime and an additional amount of money, such as a commission or a bonus that is guaranteed based upon work requirements. Overtime ...

Rules of origin

Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tari ...

Secret rebate

A secret rebate is a kick-back that is made available to some customers or business partners but concealed from others, to the detriment of competition. The practice is usually illegal under state unfair business practice laws.

Security interest

A security interest is a legal right granted by a debtor to a creditor over the debtors property which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. ...

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