Informal Contract - Law Dictionary Search Results
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contract
contract [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com- with, together + trahere to draw] 1 : an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other's duty or a remedy for the breach of the other's duty ;also : a document embodying such an agreement see also accept, bargain, breach, cause, consent, consideration, duty, meeting of the minds, obligation, offer, performance, promise, rescind, social contract, subcontract Uniform Commercial Code in the Important Laws section NOTE: Contracts must be made by parties with the necessary capacity (as age or mental soundness) and must have a lawful, not criminal, object. Except in Louisiana, a valid contract also requires consideration, mutuality of obligations, and a meeting of the minds. In Louisiana, a valid contract requires the consent of the parties and a cause for the contract in addition to c...
Service
Service [fr. servitium, Lat.], that duty which a tenant, by reason of his estate, owes to his lord. There are many divisions of this duty in our ancient law books, as into personal and real, which is either urbane or rustic, free and base, continua land annual, casual and accidental, intrinsic and extrinsic, certain and uncertain, etc. see TENURE.The formal delivery of a writ, summons of other legal process 2. The formal delivery of some other legal notice such as pleading, Black's Law Dictionary, 7th Edn., p. 1372.The formal mode of bringing a writ or other process, or a notice in a suit, to the knowledge of the person affected by it.The service of writs of summons is regulated by (English) R.S.C. 1883, Ord. IX., which by r. 1 dispenses wit service, when (as is usual) the defendant, by his solicitor, agrees to accept service, and enters an appearance. By r. 2, service, when required, must be personal, unless an order for 'substituted service, or the substitution of notice for service,...
Bought and Sold Notes
Bought and Sold Notes. It is no longer the custom for brokers who have succeeded in making a contract to make any entry in their books save for their own private information, and it is now almost the universal practice to regard the bought and sold notes as the proper evidence of the contract. The broker sends to the seller a 'sold note' and to the buyer a 'bought note,' these being now the usual terms, though formerly their use was sometimes the converse. When each note discloses the name of both parties to the transaction, each is a complete memorandum of the bargain. When each note only discloses the name of one party, the two may be treated as one memorandum. The bought and sold notes are deemed to constitute a single document, and if they differ materially they are nullities unless one has been assented to by the parties as containing the terms of the contract.Every contract note for or relating to the sale or purchase of any stock or marketable security must be stamped when the v...
lease
lease [Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner ;also : the act of such conveyance or the term for which it is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.” build·ing lease : ground lease in this entry consumer lease : a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use finance lease : a lease in which the lessor acquires g...
Libel
Libel [fr. libellus, Lat.; libelle, Fr.]. False defamatory words, if written and published, constitute a libel: Odgers on libel, p. 1. 'Everything printed or written, which reflects on the character of another, and is published without lawful justification or excuse, is a libel whatever the intention may have been', O'Brien v. Clement, (1846) 15 M & W 435, per Parke, B. A statement in a talking film is a libel and not merely a slander, Yossopoff v. Metro-Goldwyn-Mayer Picture Corporation, 78 Sol Jo 617. As to publication by dictation, etc., to a typist, see Osborn v. Boulter & Son, (1930) 2 KB 226. All contumelious matter that tends to degrade a man in the opinion of his neighbours, or to make him ridiculous, will amount (when conveyed in writing, or by picture, effigy, or the like, Monson v. Tussauds, Ltd., (1894)1 QB 671, to libel. A writing of fictitious character which incidentally contains the name of a real person may be a libel: see Jones v. Hulton & Co., 1910 AC 20, where Lord ...
Reward
Reward, a recompense for anything done.Something of value, usu. money, given in return for some service or achievement, such as recovering property, or providing information that leads to capture of a criminal, Black's Law Dictionary, 7th Edn., p. 1321.By the (English) Criminal Law Act, 1826, s. 28, the Courts may order the sheriff of the county, in which certain offences have been committed, to pay the person active in or towards the apprehension of persons charged with felonies a reasonable sum to compensate for expense, exertion, and loss of time, and by s. 30, if a man be killed in attempting to take such offenders the Court may order compensation to his wife or relatives. See Archbold, Crim. Pleading, etc., 25th Edn., pp. 276 et seq.Corruptly taking a reward for helping to the recovery of stolen property without exercising all due diligence to cause the offender to be brought to trial is punishable by penal servitude up to seven years. [(English) Larceny Act, 1916, s. 34, and cf. ...
disaffirm
disaffirm : cancel rescind used esp. of a contract made by a minor dis·af·fir·mance [di-sə-fər-məns] n dis·af·fir·ma·tion [dis-a-fər-mā-shən] n ...
knowledge
knowledge 1 a : awareness or understanding esp. of an act, a fact, or the truth : actual knowledge in this entry b : awareness that a fact or circumstance probably exists ; broadly : constructive knowledge in this entry see also scienter, willful blindness NOTE: Knowledge fundamentally differs from intent in being grounded in awareness rather than purpose. ac·tu·al knowledge 1 : direct and clear awareness (as of a fact or condition) [the bank had actual knowledge that the name and account number referred to different persons] 2 : awareness of such information as would cause a reasonable person to inquire further ; specif : such awareness considered as a timely and sufficient substitute for actual notice (as of a work-related injury or of a bankruptcy proceeding) [ruled that the employer did not have actual notice or actual knowledge within 90 days] con·struc·tive knowledge : knowledge (as of a condition or fact) that one using ordinary care or diligenc...
Fieri feci
Fiducia. If a man transferred his property to another, on condition that it should be restored to him, this contract was called fiducia, and the person to whom the property was so transferred was said fiduciam accipere, Cic. Top. 10. A man might transfer his property to another for greater security in time of danger, or for other sufficient reasons, Gaius, ii. 60.An early form of mortgage or pledge in which debtor passed title to property to creditors by a formal act of sale, yet with express or implied agreement that the creditor would reconvey property once debt was paid, Black's Law Dictionary, 7th Edn., p. 640....
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