Brief
1) written legal argument, usually in a format prescribed by the courts, stating
the legal reasons for the suit based on statutes, regulations, case precedents,
legal texts, and reasoning applied to facts in the particular situation 2) to
summarize a precedent, case, or lay out in writing a legal argument; attentive
law students "brief" each case in their casebooks, which means extracting the
rule of law, the reasoning (rationale), the essential facts, and the outcome. 3)
to give a summary of important information to another person
Broker
in general, a person who arranges contracts between a buyer and seller for a
commission
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
Building And Loan
another name for savings and loans association
Bulk Sales Act
state laws which require a seller of the business including his/her inventory to
a) publish notice of the sale b) give written notice to all creditors c) set up
an escrow of the funds realized from the sale upon which the creditors can make
a claim for a brief period of time; these statutes are intended to prevent a
merchant from quietly selling his/her business inventory and disappearing
without paying current creditors
Burden Of Proof
the requirement that the plaintiff (the party bringing a civil lawsuit) show by
a "preponderance of evidence" or "weight of evidence" that all the facts
necessary to win a judgment are presented and are probably true; in a criminal
trial the burden of proof required of the prosecutor is to prove the guilt of
the accused "beyond a reasonable doubt," a much more difficult task
Burglary
the crime of breaking and entering into a structure for the purpose of
committing a crime
Business
any activity or enterprise entered into for profit; it does not mean it is a
company, a corporation, partnership, or has any such formal organization, but it
is sometimes significant to determine if an accident, visit, travel, meal or
other activity was part of "business" or for pleasure or no particular purpose
But For Rule
one of several tests to determine if a defendant is responsible for a particular
happening; in this test, was there any other cause, or would it have occurred
"but for" the defendant's actions? (For example, a speeding motorist loses
control and kills someone. Was there any other cause but for the defendants
actions that would have caused this incident?)
Buy-sell Agreement
contract among owners of a business which provides terms for their purchase of a
withdrawing partner's or stockholder's interest in the enterprise