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Most Popular Legal Definitions
book value
A determination of the value of a corporation's stock by adding up the stated
value of corporate assets as shown on the books (records) of a corporation and
deducting all the liabilities (debts) of the corporation. This may not be the
true value of the corporation or its shares since the assets may be under- or
over-valued.
civil calendar
The list of lawsuits that are approaching trial in any court. Attorneys and/or
parties whose cases are coming to the top of the list receive notice of the
"calling'' of the civil calendar.
bucket shop
an unofficial and usually illegal betting operation in which the prices of
stocks and commodities are posted and the customers bet on the rise and fall of
prices without actually buying stock, commodities, or commodity failures
slavery
When a person has absolute power over another,
including life and liberty.
C.I.F.
total of cost, insurance and freight charges to be paid on goods purchased and
shipped (Cost, Insurance, Freight = C.I.F.)
equity
A branch of English law which developed hundreds of years ago when litigants
would go to the King and complain of harsh or inflexible rules of common law
which prevented justice from prevailing
bad faith
1) intentional dishonest act by not fulfilling legal or contractual obligations,
misleading another, entering into an agreement without the intention or means to
fulfill it, or violating basic standards of honesty in dealing with others 2)
when there is bad faith then a transaction is called a "bad faith" contract or
"bad faith" offer
capricious
Unpredictable and subject to whim, often used
in law to refer to judges and judicial decisions which do not follow the law,
logic, or proper trial procedure.
impaired
A deterioration of an individual's judgment and decrease in his or her's
physical ability. In law, it used primarily in regards to a person who is
driving while ability impaired by alcohol or drugs. (D.W.A.I.) A DWAI is
different from a DWI in that it doesn't require a predetermined B.A.C.
pro rata
Latin, to divide proportionate to a certain rate
or interest.