Business Judgment - Page 3 - Law Dictionary

bar

bar often attrib 1 a : the railing in a courtroom that encloses the area around the judge where prisoners are stationed in criminal cases or where the business of the court is transacted in civil cases compare bench, dock, jury box, stand b : court tribunal [the younger judge brought a fresh viewpoint to the ] 2 a : the whole body of lawyers ;esp : those qualified to practice in the courts of a particular jurisdiction [admitted to the Arizona ] [the bankruptcy ] compare bench b : the profession or occupation of lawyer c : bar examination [passed the ] 3 : something that prevents admission, progress, or action: as a : an intangible impediment, obstacle, or barrier [the restrictive covenant raised a racial ] [consent of the victim is a to conviction] b : the permanent preclusion of a claim or action esp. due to the loss of a previous suit based on the same cause of action and between the same parties [its earlier successful suit against the purchaser for the price was a to...

Bribe

Bribe, a fit to any person in office or holding a position of trust, with the object of inducing him to disregard his official duty or betray his trust for the benefit of the giver. It is a misdemeanour at common law for a public officer, whether judicial or ministerial, to accept a bribe, or for such an officer to conspire with others that he shall receive such a bribe, Rex v. Whitaker, (1914) 3 KB 1283. It has long been settled law that the secret profits of an agent belong to his principal: see De Busche v. Alt, (1878) 8 Ch D 286. The acceptance of a secret commission from the other side to a negotiation justifies the dismissal of the agent receiving it, Boston Deep Sea Fishery v. Ansell, (1888) 39 Ch D 339. The bribery of an agent avoids a contract: see Shipway v. Broadwood, (1899) 1 QB 369, where a veterinary surgeon employed to test horses by the purchaser had passed them after acceptance of a bribe from the seller. In such a case it is an immaterial inquiry to what extent the br...

interest

interest [probably alteration of earlier interesse, from Anglo-French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter- between, among + esse to be] 1 : a right, title, claim, or share in property Article Nine security interest : security interest in this entry beneficial interest : the right to the use and benefit of property [a beneficial interest in the trust] contingent interest : a future interest whose vesting is dependent upon the occurrence or nonoccurrence of a future event compare vested interest in this entry controlling interest : sufficient stock ownership in a corporation to exert control over policy equitable interest : an interest (as a beneficial interest) that is held by virtue of equitable title or that may be claimed on the ground of equitable relief [claimed an equitable interest in the debtor's assets] executory interest : a future interest other than a remainder or reversion that may take effect upon the divesting...

damage

damage [Old French, from dam injury, harm, from Latin damnum financial loss, fine] 1 : loss or harm resulting from injury to person, property, or reputation 2 pl : the money awarded to a party in a civil suit as reparation for the loss or injury for which another is liable see also additur, cover, mitigate, remittitur compare declaratory judgment at judgment, injunction specific performance at performance NOTE: The trier of fact determines the amount of damages to be awarded to the prevailing party. More than one type of damages may be awarded for a single injury. actual damages : damages deemed to compensate the injured party for losses sustained as a direct result of the injury suffered called also compensatory damages consequential damages : special damages in this entry direct damages : damages for a loss that is an immediate, natural, and foreseeable result of the wrongful act compare special damages in this entry ex·em·pla·ry damages [ig-zem-plə-r...

Consummation

Consummation, of tenancy by the curtesy is when a husband, upon his wife's death, becomes entitled to hold her lands in fee simple or fee tail, of which she was seised during the marriage, for his own life, provided he has had issue by her, capable of inheriting. His estate becomes initiate upon birth of a child.Consummation, (1) the completion of a thing; (2) the completion of a marriage between wedded persons by cohabitation.Consummation, defined in Black's Law Dictionary, 6th Edn., 'the completion of a thing; the completion of a marriage by cohabitation between spouses', Babu S/o Raveendran v. Babu S/o Bahuleyan, (2003) 7 SCC 37.Consumption, means every fact which it is necessary to establish to support a right or obtain a judgment, Sadanandan Bhadran v. Madhavan Sunil Kumar, (1998) 6 SCC 514.The word consumption in its primary sense means the act of consuming and in ordinary parlance means the use of an article in a way which destroys, wastes or uses up that article. But in some le...

Consumption and use

Consummation, of tenancy by the curtesy is when a husband, upon his wife's death, becomes entitled to hold her lands in fee simple or fee tail, of which she was seised during the marriage, for his own life, provided he has had issue by her, capable of inheriting. His estate becomes initiate upon birth of a child.Consummation, (1) the completion of a thing; (2) the completion of a marriage between wedded persons by cohabitation.Consummation, defined in Black's Law Dictionary, 6th Edn., 'the completion of a thing; the completion of a marriage by cohabitation between spouses', Babu S/o Raveendran v. Babu S/o Bahuleyan, (2003) 7 SCC 37.Consumption, means every fact which it is necessary to establish to support a right or obtain a judgment, Sadanandan Bhadran v. Madhavan Sunil Kumar, (1998) 6 SCC 514.The word consumption in its primary sense means the act of consuming and in ordinary parlance means the use of an article in a way which destroys, wastes or uses up that article. But in some le...

Justices

Justices, officers deputed by the Crown to ad-minister justice and do right by way of judgment. The judges of the Supreme Court are called justices, but the word is usually applied to petty magistrates who sit to administer summary justice in minor matters, and who are commonly called justices of the peace. They were first appointed in 1327 by 1 Edw. 3, st. 2, c. 16, and are now appointed by the king's special commission under the Great Seal, the form of which was settled by all the judges in 1590, and continues, with little alteration, to this day. Consult Putnam's Early Treatises on the Practice of the Justices of the Peace in the Fifteenth and Sixteenth Centuries. This appoints them all, jointly and severally, to keep the peace in the county named; and any two or more of them to inquire of and determine felonies and other misdemeanours in such county committed, in which number some particular justices, or one of them, are directed to be always included, and no business done without ...

liability

liability pl: -ties 1 : the quality or state of being liable 2 : something for which one is liable: as a : a financial obligation : debt [tax ] [the bonds are liabilities] compare asset contingent liability : an amount that may or may not be owed depending on the outcome of a contingency (as a cosigner's default on a loan) fixed liability : a liability (as a bond or mortgage) that does not mature for at least one year from the date incurred or from a given date b : accountability and responsibility to another enforceable by civil remedies or criminal sanctions [ for injuries caused by their product] absolute liability : strict liability in this entry alternative liability : joint liability imposed on multiple tortfeasors when there are simultaneous tortious acts (as defective manufacture of parts of a wheel by different manufacturers) and uncertainty as to which act was the proximate cause of an injury compare concert of action civil liability : liability imposed under c...

Abstract of title

Abstract of title. A concise statement, usually prepared for a mortgagee or purchaser of real property, summarising the history of a piece of land including all conveyances interests, lines & encumbrances that reflect title to property, Black's Law Dictionary, 7th Edn., an epitome of the evidence of title to property or power to deal with it.Every purchaser of land or real estate has an implied right to have an abstract of title delivered to him within a reasonable time, Compton v. Bagley, (1892) 1 Ch 313. As to registered land, see the Land Registration Act, 1925, s. 110, and Brickdale and Stewart-Wallace on the Land Registration Act, 1925.An abstract is said to be perfect if it deduces the title from the date fixed by the contract or by statute for its commencement and discloses every incumbrance affecting it, by setting out the material parts of all deeds, wills and other documents, and stating the facts on which it depends: fc. 1 Pres. 42, 207. The statutory period is thirty years,...

County Courts

County Courts. The old County Court was a tribunal inident to the jurisdiction of a sheriff, but was not a Court of Record. Proceedings were removable into a superior court by recordari facias loquelam, or writ of false judgment. Outlawries ofabsconding offenders were here proclaimed.Far more important inferior tribunals have now been established throughout England. They were first established in 1846 by 9 & 10 Vict. c. 95, 'the Act for the more easy recovery of Small Debts and Demands in England,' repealed and re-enacted with fourteen amending Acts by the consolidating and amending (English) County Courts Act, 1888 (51 & 52 Vict. c. 43), an Act very materially but very shortly amended by the (English) County Courts Act, 1903 (3 Dew. 7, c. 42), which came into operation on the 1st January, 1905, and raised the common law jurisdiction from 50l. (to which amount it had been raised by an Act of 1850 from the original 20l. under the Act of 1846) to 100l. The number of jurors was also raise...

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