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432 Cards in this Set

  • Front
  • Back
1. Rule of Law
Established legal principles that treat all persons equally and that government itself obeys.
Public Law
Law that regulates the conduct of government and the relations between government and private persons.
Private Law
Law that regulates the relations between private persons and groups of private persons.
Legal Liability
Responsibility for the consequences of breaking the law
Criminal Liability
Responsibility arising from commission of an offence against the government or society as a whole
Regulatory or Quasi-Criminal Liability
Responsibility arising from breaches of less serious rules of public law often enforced through specialized regulatory tribunals set up by the government for specific purposes.
Civil Liability
Responsibility arising from a breach of a private law enforced through a lawsuit initiated by the victim
Non-Governmental Organizations
Voluntary non-profit associations of private individuals or groups working together to influence policy, raise awareness, or affect change.
Super-Governmental Organizations
Non-profit associations of governments from around the world working to find common approaches to international issues, such as the World Trade Organization or UN.
Legal Risk
Business activities, conduct, events, or scenarios that could expose a business to any type of legal liability.
Legal Risk Management Plan
plan developed by a business that identifies potential legal liability and provides preventive and remedial strategies
Legal Audit
review of each area, action and interaction of the business to identify potential legal liability and legal compliance risks.
Corporate Social Responsibility
concept that suggests business decision-makers consider ethical issues including the interests of customers, employees, creditors, the public and other stakeholders, in addition to legal and financial concerns.
Code of Conduct
common standard of behaviour that may take the form of a values statement or a prescribed set of rules.
Basic Law
constitution that is habitually obeyed by the citizens of a country and that they regard as legitimate and binding.
Statute
piece of legislation passed by government
Regulations
administrative rules implements by government as a result of authorization given in a statute.
Case Law
collection of individual cases decided by the courts that develop and shape legal principles.
Ultra Vires
beyond the power and therefore void
Residual Powers
powers that fall within federal jurisdiction because they are not expressly allocated to the provinces by the Constitution.
Concurrent Powers
overlapping powers of both levels of government to regulate the same activities.
Human Rights
recognized entitlements encompassing traditional freedoms associated with civil liberty and basic human necessities.
Private Rights
individual rights arising from private law.
Burden
requirement that, unless a party can establish facts and law to prove its case, it will lose.
2. Substantive Law
rights and duties that each person has in society
Procedural Law
law that deals with the protection and enforcement of substantive rights and duties
Common Law
case-based system of law originating in England and covering most of the english-speaking world - based on the recorded reasons given by courts for their decisions.
Civil Law
system of law involving a comprehensive legislated code, derived from Roman law that developed in continental Europe and greatly influenced by the Code Napoleon of 1804
Roman Law
system of law codified by the Eastern Roman Emperor Justinian in the 6th century
Stare Decisis
to stand by a previous decision
Distinguish
identification of a factual difference that renders a prior precedent inapplicable to the case before the court
Overrule
to declare an existing precedent no longer binding or effective
Subordinate Legislation
law created by administrative agencies whose authority is granted by statue in order to carry out the purposes of he legislation
Codify
set down or summarize in statute the existing common law rules governing a particular area of activity
Strict Interpretation
courts apply the provisions of a statue only where the facts of the case are covered specifically by the statute
Liberal Approach
statutory interpretation that considers the legislative intent purpose and history of the statute as wells the context of the language
System of Courts
organization of courts into a hierarchy that designates the responsibilities of the court and determines the importance of the precedent; the standard system has three levels: trial, appeal and final appeal.
Canon Law
law created by the Church, which had its own jurisdiction and courts in matters pertaining to itself, family law and wills
Feudal Law
system of land ownership rooted in sovereign ownership; land was handed down to lords who gave possession of parcels of land to lesser "royals" in exchange for military service and loyalty
Merchant Law
rules and trade practices developed by merchants in medieval trade guilds and administered by their own courts
Writ
ancient form required in order to take a grievance to court
Courts of Chancery
system of courts under the kings chancellor and vice-chancellors developed from hearing of petitions to the king - courts of equity.
Equitable Remedies
new remedies created by the courts of equity to address situations where money damages did not solve the problem
Specific Performance
an order by a court of equity to carry our a binding obligation
Contempt of Court
a finding by a court that a party has refused to obey it and will be punished
Appellant
the party who petitions for an appeal
Respondent
the party who defends on an appeal
New Trial
a case sent back by the appeal court for retrial by the lower court
Rules of Civil Procedure
the provincial regulations that set out the steps in a private lawsuit, including forms, fees and timelines
Unincorporated Collectivity
a group of persons that in most cases is not recognized by the courts and that may not sue or be sued
Plaintiff
the party that commences a private (civil) legal action against another party
Class Action
an action in which an individual represents a group of possible plaintiffs and the judgement decides the matter for all members of the class at once
Res Judicata
a case that has already been decided by a court and cannot be brought before a court again
Settlement
an out-of-court procedure by which on the parties agrees to pay a sum of money or perform an act in return for a waiver by the other party of all rights arising from the grievance
Cousel
lawyer representing a plaintiff or defendant
Entering (filing) an Appearance
filing notice of an intention to contest an action
Statement of Defence
a reply to a statement of claim, admitting facts not in dispute, denying other facts, and setting out facts in support of the defence
Issuing
commencing the lawsuit by filing a copy of the statement of claim with the court office
Serving
providing a copy of the issued claim to each defendant
Cause of Action
an event or set of event that gives rise to legal liability
Counterclaim
claim by the defendant arising from the same facts as the original action by the plaintiff to be tried along with that action
Pleadings
documents filed by each party to an action providing information it intends to prove in court
Examination For Discovery
process allowing either party to examine the other in order to narrow the issues
Admissible Evidence
evidence that is acceptable to the court
Hearsay
words attributed by a witness to a person who is not before the court
Reserve Judgement
postpone giving a decision after the hearing ends
Costs
funds paid by litigants to cover a portion of the government's expenses in maintaining the court system
Legal Aid
a system where the government pays for many legal services provided to low-income litigants
Solicitor-Client Fee
payment for the time and expenses of a lawyer in preparing a case and representing the client in negotiations to settle in court
Party and Party Costs
an award that shifts some of the costs of litigation to the losing side according to the published scale of fees
Judicare
model of legal aid in which lawyers agree to be paid according to government fee schedules for serving clients who qualify for legal aid
Community Legal Services or Legal Clinic
model of legal aid where legal services are delivered by community law offices with full-time staff lawyers and managed by boards elected by residents of the community
Contingent or Contingency Fee
fee paid for a lawyer's services only if the client is successful; there is no charge if the client is unsuccessful
ADR
Alternative Dispute Resolution - using private procedures instead of the courts to resolve disputes
Arbitration
a form of ADR where a dispute is referred to an arbitrator who adjudicates the matter and the parties agree to be bound by the arbitrator's decision, although there may be a right to appeal to the courts
Adjudicate
hear parties and deliver a decision with reasons
Mediation
a form of ADR where a neutral third party who is acceptable to both sides acts as a mediator, assisting the parties to reach a settlement
Solicitor
an "officer" lawyer in England who interviews clients, carries on legal aspects of business and family affairs and prepares cases for trial
Barrister
a lawyer in England who accepts cases from solicitors and presents them in court, and also acts as consultant in complex legal issues
Brief
a case handed by a solicitor to a barrister
Notary
a solicitor in Quebec
Advocate
a barrister in Quebec
Attorney
a lawyer in the US, encompassing the roles of both barrister and solicitor
Disbarred
expelled from the law society and deprived of the privilege of practicing law
Solicitor-Client Privilege
a client's right to have all communications with his or her lawyer kept confidential
Paralegal
a non-lawyer who provides some form of legal service to the public
Retain or Retainer
the contract between a lawyer and client that describes the work that will be done and the fee that will be charged
Outside Counsel
self-employed lawyers who work alone, in small partnerships, or in large national firms, and bill the business for services rendered
In-House Counsel
lawyer who provides legal services to a business as a full-time employee of the business
Compliance Officers
employees that monitor regulatory and legislative requirements applicable to the business and ensure that the business complies
3. "No-Fault" Insurance
a system of compulsory insurance that eliminates faults as a basis for claims
Workers Compensation
a scheme in which employers contribute to a fund used to compensate workers injured in industrial accidents regardless of how the accident was caused
Vicarious Liability
the liability of an employer to compensate for harm caused by an employer
Negligence
the careless causing of injury to the person or property of another
Duty of Care
a relationship so close that one must take reasonable steps to avoid causing harm to the other
Standard of Care
the level of care that a person must take in the circumstances
Causation
injury resulting from the breach of the standard of care
Remote
unrelated or far removed form the conduct
Damages
a sum of money awarded as compensation
Res Ipsa Loquitur
the facts speak for themselves
Contributory Negligence
negligence of an injured party that contributes to her own loss or injury
Mitigate
duty to act reasonably and quickly to minimize the extent of damage suffered
Subrogation
where one person becomes entitled to the rights and claims of another
Duty to Warn
to make users aware of the risks associated with the use of the product
Invitee
a person permitted by an occupier to enter premises for business purposes
Licensee
a visitor (other than an invitee) who enters premises with the consent of the occupier
Trespasser
a person who enters a premises without the permission of the occupier
Intentional Torts
torts involving conduct that was not accidental
Inducing Breach of Contract
intentional causing of one person to breach his contract with another
Deceit
knowingly making a false statement with a view to its being acted upon by another person
Conversion
dealing with the goods of another in a manner that is inconsistent with the other's ownership
Public Nuisance
interference with the lawful use of public amenities
Private Nuisance
interference with an occupier's use and enjoyment of her land
Trespass
unlawful entering or remaining on the land of another
Assault
the threat of violence to a person
Battery
unlawful physical contact with a person
Fals Imprisonment
unlawfully restraining or confining another person
False Arrest
causing a person to be arrested without reasonable cause
Malicious Prosecution
causing a person to be prosecuted for a crime without an honest belief the the crime was committed
Defamation
making an untrue statement that causes injury to the reputation of another person
Libel
written defamation
Slander
spoken defamation
Absolute Privilege
complete immunity from liability for defamation
Qualified Privilege
immunity from liability for defamation provided a statement was made in good faith
Unlawful Interference with Economic Relations
attempting by threats or other unlawful means to induce one person to discontinue business relations with another
Product Defamation
making false and damaging statements about the products of another person
Passing Off
representing one's own goods as those of another
Punitive or Exemplary Damages
damages awarded with the intention of punishing a wrongdoer
Special Damages
damages to compensate for quantifiable injuries
General Damages
damages to compensate for injuries that cannot be expressed in monetary terms
Restitution
an order to restore property wrongfully taken
Injunction
an order restraining a person from doing, or continuing to do, a particular act
Mandatory Injunction
an order requiring a person to do a particular act
Legal Risk
a business risk that may involve legal proceedings
4. Fiduciary Duty
a duty imposed on a person who stands in a special relation of trust to another
Conflict of Interest
a situation where a duty is owed to a client whose interests conflict with the interests of the professional, another client, or another person to whom a duty is owed
Third-Party Liability
liability to some other person who stands outside a contractual relationship
Duty to Account
the duty of a person who commits a breach of true to hand over any profits derived from that breach
Deceit
the making of false statement with the intention of misleading another person
Fraudulent Misrepresentation
an incorrect statement made knowingly with the intention of causing injury to another
Negligent Misrepresentation
an incorrect statement made without due care for its accuracy
Disclaimer
an express statement to the effect that the person making it takes no responsibility for a particular action or statement
Code of Conduct
rules of a professional organization setting out the duties and appropriate standards of behaviour to be observed by its members
Privilege
the right of a professional to refuse or divulge information obtained in confidence from a client
26. Sole Proprietorship
unincorporated business owned by a single individual
Partnership
relationship between two or more persons carrying on a business with a view to profit
Firm
collective reference to the partners in a partnership
Partnership Agreement
agreement between person to create a partnership and setting out terms of the relationship
Joint Liability
situation where each of a number of persons is personally liable for the full amount of the debt
Limited Partnership
some of the partners limit their liability to the amount of their capital contributors
General Partner
partner in a limited partnership who's liability is not limited
Limited Partner
in a limited partnership; liability is limited to the amount of his or her capital contribution
Limited Liability Partnership
non-negligent partners are not personally liable for losses caused by the negligence of a partner
Contractual Joint Venture
effected by an agreement without the creation of any separate legal entity
Equity Joint Venture
corporation formed and jointly owned by the parties to a joint venture for the purposes of carrying on the venture
Declaration of Trust
agreement that establishes a trust and designates the trustees
Unitholders
beneficiaries of and income trust
Joint Venture
business venture undertaken jointly by two or more parties
27. Legal Person
entity recognized at law as having its own legal rights, duties & responsibilities
Corporation
legal person formed by incorporation
Limited Liability
the liability of shareholder is limited to the amount of their capital contributions
Ultra Vires
beyond the powers
Associated Corporations
corporations related either vertically (one controls the other) or horizontally (both corporations are controlled by same person
Royal Charter
special license given by crown to form a corporation for the purpose of carrying on a particular activity (i.e. Hudsons Bay Company)
Special Acts of Parliament
legislative acts creating a specific corporation (CBC, Air Canada, Utilities, etc.)
Memorandum of Association
document setting out the essential terms of an agreement to form a corporation
Certificate of Incorporation
certificate that corporation has come into existence
Letters Patent
document incorporating a corporation issued by the appropriate authority and constituting the "charter" of the corporation
Article of Incorporation
founding corporate document, often referred to as the sharer or constitution of the corporation
Private Company
restricted number of shareholders prohibited from issuing its shares to the general public
Distributing Corporation
issues its securities to the public (publicly traded corporation)
Professional Corporation
special type of business corporation that may be formed by members of a profession
Authorized Capital
max # of shares a corporation can issue according to its charter
Issued Capital
shares issued by a corporation
Paid-Up Capital
shares issued and fully paid for
Sated Capital Account
amount received for the issue of shares
Share
a members proportionate interest in the capital of a corporation
Par Value
nominal value attache to a share at the time of issue
No Par Value Share
share with no nominal value attached
Preferred Share
share carrying preferential rights to receive a dividend and/or be redeemed on the dissolution of the corporation
Bond
document evidencing a debt owed by the corporation
Common Share
share carrying no preferential right
Cumulative Right
right of a preferred share holder to be paid arrears from previous years before any dividend is paid on the common shares
Participation Right
preferred share holder right to participate in surplus profits or assets of the corporation in addition to the amount of the preferred dividend or redemption price
28. Corporate Governance
rules governing the organization and management of the business & affairs of a corporation in order to meet its internal objectives and external responsibilities
Publicly Traded Corporations
corporations that issue shares to the public, also known as public corporations, reporting issuers, and issuing corporations
Public Offering
selling shares to the public, which must be done in compliance with provincial securities regulations
Board of Directors
governing body of a corporation, responsible for the management of its business and affairs
Officers
high-ranking members of a corporation's management team as defined in the by-laws or appointed by the directors; such as the president, vice-president, controller, CEO, CFO, general counsel and general manager
Audit Committee
group of directors responsible for overseeing the corporate audit and the preparation of financial statements. The committee has wider responsibilities in a distributing corporation
Compensation Committee
responsible for setting director and officer pay
Nominating Committee
responsible for proposing and recruiting new directors
Cumulative Voting
method of electing directors by a form of proportional representation
Due Diligence Defence
establishing that an acceptable standard of care and skill was exercised by a director or officer
Business Judgement Rule
courts will defer to the business decisions of the directors and officers provided they are arrived at using an appropriate degree of prudence and diligence
Insider Trading
the use of confidential information relating to a corporation in dealing with its securities
General Meeting of Shareholders
a formal meeting of shareholders at which they are able to vote on matters concerning the corporation
Annual General Meeting
the general meeting of shareholders that is required by law to be held each year to transact certain specified business
Special Meeting
any general meeting of shareholders other than the annual general meeting
Ordinary Resolution
resolution adopted by the general meeting and passed by a simple majority
Special Resolution
resolution of the general annual meeting required to be passed by a special (usually two-thirds) majority
Class Rights
special rights attached to a particular class of share
Proxy
a person appointed to attend a general meeting of shareholders and to cast the votes of the shareholder appointing him or her
Proxy Form
a form required to circulated to shareholders before a general meeting, inviting them to appoint a proxy if they so wish
Dividend
a distribution to shareholders of the profits of the corporation
Financial Statements
annual accounts that are required to be presented to the shareholders at the annual general meeting
Documents of Record
documents that a corporation is required to keep and make available to shareholders
Annual Report
the report on the business and affairs of the corporation, which the directors are required to present at the annual general meeting
Inspector
a person appointed by the court to investigate the affairs of a corporation
Appraisal Remedy
the right to have one's shares bought by the corporation at a fair price
Derivative Action
proceedings brought by one or more shareholders in the name of the corporation in respect of a wrong done to the corporation
Winding Up
the dissolution (or liquidation) of a corporation
Oppression Remedy
a statutory procedure allowing individual shareholders to seek a personal remedy if they been unfairly treated
Shareholder Agreement
an agreement between two or more shareholders that is distinct from the corporation's charter and by-laws
Unanimous Shareholder Agreement
a shareholder agreement to which all shareholders are parties
29. Stakeholders
groups affected by the business activities of a corporation
Regulatory Offences
less-serious offences created by government regulation through specialized legislation, agencies and tribunals
mens rea Offence
an offence where the prosecution must establish a "guilty mind" on the part of the defendant
Strict Liability Offence
an offence where there is a presumption of guilt unless the defendant can show that he or she took reasonable care
Absolute Liability Offence
an offence where the absence of fault is no defence
Reduction of Capital
writing down (reducing) the stated amount of a corporation's capital
Insolvency
having liabilities in excess of the realizable value of one's assets or being unable to pay one's debts and they fall due
Securities Commission
the statutory authority appointed to supervise the issue of securities to the general public, the operation of the securities industry and the stock exchange
Prospectus
document that a corporation is required to publish when inviting the public to subscribe for its securities
Non-Public Purchasers
purchasers that are not members of the general public such as banks, insurance companies and municipal corporations
Takeover Bid
an offer by one corporation to acquire all or a substantial part of the shares of another corporation
Directors' Circular
document required to be issued to the shareholders by the board of directors when a takeover of a widely held corporation is proposed
Indoor Management Rule
principle that a person dealing with a corporation is entitled to assume that its internal procedural rules have been complied with unless it is apparent that such is not the case
Pre-Incorporation Contract
a purported contract made in the name of a corporation before it comes into existence
Senior Officer
a representative who plays an important role in establishing an organization's policies or is responsible fore managing an important aspect of its activities, including the directors, CEO and the CFO of a corporation
Offer
a tentative promise made by one party, subject to a condition or containing a request to the other party
Offeror
person making the offer
Offeree
person to whom the offer is made
Standard Form Contract
an offer presented in a printed document or notice, the terms of which cannot be changed by the offer, but must be accepted as-is or rejected
Lapse
termination of an offer when the offer fails to accept it within a specified time, or if no time is specified, then within a reasonable time
Option
a contract to keep an offer open for a specified time in return for a sum of money
Exercise an Option
to accept the offer contained in an option
Inviting Tenders
seeking offers from suppliers
Standing Offer
an offer that may be accepted as needed from time to time
Jurisdiction
the province, state or country whose laws apply to a particular situation
Unilateral Contract
contract in which the offer is accepted by performing an act or series of acts required by the terms of the offer
Subsidiary Promise
an implied promise that the offeror will not revoke once the offer begins performance in good faith and continues to perform
Bilateral Contract
contract where offeror and offer trade promises and both are bound to perform
Gratuitous Promise
promise made without bargaining for or accepting anything in return
Past Consideration
gratuitous benefit previously conferred upon a promisor
Moral Cause
moral duty of promisor to perform his promise
Estopped
prevented
Promissory Estoppel or Equitable Estoppel
court's exercise of its equitable jurisdiction to estop a promisor from claiming that she was not bound by her gratuitous promise where reliance on that promise caused injury to the promisee
Injurious Reliance
loss or harm suffered by a promisee who to his detriment relied reasonably on the gratuitous promise
Quantum Meruit
amount a person merits to be paid for good or services proved to the person requesting them
Covenant
a serious promise
Covenantor
one who makes a covenant
Document Under Seal
covenant recorded in a document containing a wax seal, showing that the covenantor adopted the document as his act and deed
Deed
document under seal which today is usually a small, red, gummed wafer
Legal Capacity
competence to bind oneself legally
Repudiate
reject or declare an intention not to be bound by
Minor or Infant
person who has not attained the age of majority according to the law of his/her province
Age of Majority
age at which a person is recognized as an adult according to the law of his/her province
Guardian
person appointed to manage the affairs of a minor in the place of his/her parents
Necessaries
essential goods & services
Beneficial Contracts of Service
contracts of employment or apprenticeship found to be for a minor's benefit
Voidable Contract
contract that may be a rendered unenforceable at the option of one of the parties
Ratify
acknowledge and promise to perform
Void
never formed in law
Representative Action
action brought by one or more persons on behalf of a group having the same interest
Alien
non-citizen
Aboriginal Peoples
indian, inuit and metis peoples of Canada
Legal
not offensive to the public good and not violating any law
Severed
removed from the contract
Wager
agreement between two persons in which each has some probability of winning or losing
Insurable Interest
interest where a person has a financial benefit from the continued existence of the property or life insured or would suffer financial detriment from its loss or destruction
Rebut
overcome
Guarantee
conditional promise to pay only if the debtor defaults
Indemnity
promise by a third party to be primarily liable to pay the debt
Miscarriage
injury caused by the tort of another person
Unenforceable Contract
contract that still exists for other purposes but neither party may obtain a remedy under it through court action
Past Performance
performance begun by a plaintiff in reliance on an oral contract relating to an interest in land and accepted by the courts as evidence of the contract in place of a written memorandum
"Acceptance"
any conduct by the buyer in relation to the goods that amounts to recognition of an existing contract of sale
Part Payment
something tendered by the buyer and accepted by the seller after formation of the contract, to be deducted from the price
"Earnest"
a token sum or article given to seal a bargain - now a rare practice
Construing
interpreting
Strict or Plain-Meaning Approach
approach that restricts interpretation to the ordinary or dictionary meaning of a word
Liberal Approach
approach that looks tot he intent of the parties and surrounding circumstances and tends to minimize but does not ignore the words actually used
Contra Proferentem
rule of contract interpretation that prefers the interpretation of a clause that is least favourable to the party that drafted the clause
Exemption Clause
a clause in a contract that exempts a party from liability
Parol Evidence Rule
rule preventing a party to a contract from later adding a term previously agreed upon but not included in the final written contract
Collateral Agreement
separate agreement between the parties made at the same time as, but not included in, the written document
Implied Term
term not expressly included by the parties in their agreement but which, as reasonable people, they would have included had they thought about it
Third Party
person who is not one of the parties to a contract but is affected by it
Privity of Contract
relationship that exists between parties to a contract
Vicarious Performance
third party performs on behalf of the promisor who remains responsible for proper performance
Exemption Clause
clause in a contract that exempts a party from liability
Trust
arrangement that transfers property to a person who administers it for the benefit of another person
Trustee
person or company who administers a trust
Beneficiary
person who is entitled to the benefits of a trust
Beneficial Owner
person who, although not the legal owner, may compel the trustee to provide benefits to him
Trust Agreement
document that conveys property to a trustee to be used for the benefit of a third party beneficiary
Constructive Trust
relationship that permits a third party to obtain performance of a promise included in a contract for his benefit
Undisclosed Principal
contracting party who, unknown to the other party, is represented by an agent
Collateral Contract
implied contract that binds a party who made a representation or promise that induced a person to enter into a contract with another party
Assignor
party that assigns its rights under a contract to a third party
Assignee
third party to whom rights under a contract have been assigned
Assignment
transfer by a party of its rights under a contract to a third party
Choses in Possession
rights to tangible property that may be possessed physically
Choses in Action
rights to intangible property such as patents, stocks and contracts that may be enforced in the courts
Statutory Assignment
assignment that complies with statutory provisions enabling the assignee to sue the other party without joining the assignor to the action
Equitable Assignments
assignment other than a statutory assignment
Executor
personal representative of a deceased person named in his or her will
Intestate
when a person dies without leaving a will
Administrator
personal representative of a person who dies intestate
Receiving Order
court order to commence bankruptcy proceedings
Bankrupt
declared insolvent by the court
Negotiable Instrument
written contract containing a promise, express or implied, to pay a specific sum of money to the order of a designated person or to "bearer"
Negotiation
process of assigning a negotiable instrument
Endorse
sign one's name on a negotiable instrument
Holder
party who acquires a negotiable instrument from the transferor
22. Trademark
identifiable feature that is used by a person for the purpose of distinguishing their goods/services from those of others
Certification Mark
special type of trademark used to identify goods or services that conform to a particular standard
Distinguishing Guise
shaping of goods or their containers, or a distinctive mode of wrapping/packaging
Passing-Off
misrepresenting goods, services of business in such a way as to deceive the public into believing that they are the goods, services or business of some other person
Goodwill
benefit and advantage of the good name, reputation and connections of a business
World Intellectual Property Organization
specialized agency of the UN dedicated to harmonizing intellectual property laws and regimes worldwide
Digital Rights Management Technology
system of collecting data about the licensing, payment, use and authenticity of a work
Moral Rights
permanent rights of an author or creator to prevent a work from being distorted or misused
Performing Rights Society
society to which authors of musical and dramatic works assign performing rights and which grants licenses for performances
Format Shifting
transferring purchased material, such as music, from one to the owners devices to another
Patent Agent
registered agent who pursues applications for patents on behalf of individual inventors
Specification
description of the invention, its use, operation or manufacture
Claim
statement of the features claimed to be new and in respect of which the applicant claims an exclusive right
Action for Impeachment
action challenging the validity of a patent
Compulsory License
license granted to a person to work a patent without the consent of the owner of the patent
23. Land
comprises the surface, all that is under the surface, including the minerals and oil, and everything above the surface, including buildings
Fixtures
all things permanently attached to land are deemed part of the land
Property
(1) everything that is the subject of ownership or (2) the legal interest in a thing
Title
holding ownership of a thing
Real Action
action to repossess an interest in land that had been interfered with
Estates In Time
right to exclusive possession of the land for a period of time
Interests Less than Estates
interests in land that do not give the right to exclusive possession
Freehold Estate
interest in land that is indeterminate in time
Fee Simple
interest in land closest to complete ownership
Life Tenant
holder of a life estate
Reversion
balance of a fee simple reserved to the grantor and her heirs at the end of a life estate
Remainder
balance of a fee simple that goes to a third person at the end of a life estate. Unfortunately life estates create many problems
Remainderman
person who holds the reversion or remainder in a fee simple
Leasehold
interest in land for a definite period of time
Lessee or Tenant
person to whom an interest in a leasehold estate is granted
Lessor or Landlord
grantor of an interest in a leasehold estate
Tenants In Common
concurrent holders of equal undivided shares in an estate
Joint Tenants
concurrent holders each of whom has a right of survivorship
Right of Survivorship
right of a surviving tenant to the interest of a deceased joint tenant
Probate
process of administering and settling the estate of a deceased person
Severance
procedure that turns a joint tenancy into a tenancy in common
Easement
right enjoyed by one landowner over the land of another for a special purpose but not for occupation of the land
Right-of-Way
easement that gives the holder a right to pass back and forth over the land of another in order to get to and from her own land
Dominant Tenement
piece of land that benefits from an easement
Servient Tenement
land subject to the easement
Prescription
creation of an easement over adjoining land through exercising a right continuously and openly
Restrictive Covenant
convenant requiring the holder of the land to refrain from certain conduct or certain use of the land
Building-Scheme Covenant
restrictive covenant that regulates land use over an entire neighbourhood or a shopping centre
Dower
window's right to a life interest in one-third of the real property held by her husband in fee simple before his death
Condominium Unit
unit in a multiple-unit development that may be owned in fee simple
Common Elements
structures and areas external to a condominium unit, including communal facilities
Condominium Corporation
corporation - whose members are the condominium owners - that is responsible for managing the property as a whole
Deed of Conveyance or Deed
document under seal that transfers an interest in land from the owner to another party
Transfer
under the land titles system the equivalent of a grant; not required to be made under seal
Reservation
that part of an interest in land expressly retained by the transferor
Expropriation
compulsory sale and transfer of land to a public body
Extinguish the Title
end the title of the owner and the owners right to regain possession
Adverse Possession
exclusive possession of land by someone who openly uses it like an owner and ignores the claims of other persons including the owner
Limitation Period
time period within which a right of action must be pursued or it is lost forever
Title Searchers
paralegals trained in land law who study the public registration systems and produce summaries of the registered interests affecting the title to specific real property
Priority of Registration
priority of interests in real property are determined based on the order of registration in the public system; earlier registrations have priority over subsequent registrations
Chain Title
series of grants over the title search period that can be traced to the current owner (vendor)
Searching a Title
examine the title to a piece of land
Land Titles System
system of land registration where the land titles office brings all outstanding interests in the land up-to-date and certifies them as being correct
Certificate of Title
summary of registered interests in a property, showing the owner and any mortgages, easements, or other interests held by others which may be relied upon by the public
Title Fraud
fraudulent transfer or mortgaging of land by a non-owner
Survey
detailed drawing or map of the real property showing all the boundaries of the land and the location of all fixtures, encroachments, or overhangs
Levy Execution
to seize and hold a sale of land in order to realize the amount due under a judgement registered against the owner
Title Insurance
poly of insurance that compensates the policy holder for defects in a title
24. Term
interest in land for a definite period of time
Lease
(1) leasehold interest and (2) the agreement between landlord and tenant creating the leasehold interest
Residential Tenancies
lease of premises used as living accommodation
Commercial Tenancies
lease of premises used for a business or non-residential purpose
Term Certain
tenancy that expires on a specific date
Overholding Tenant
tenant who remains on the premisses without a new agreement with the landlord after the term of the lease expires
Periodic Tenancy
leasehold interest that renews itself automatically on the last day of the term for a further term of the same duration
Tenancy from Year to Year
periodic tenancy that renews itself yearly
Trespasser
one who enters without consent or lawful rich on the lands of another or who, having entered lawfully, refuses to leave when ordered to do so by the owner
Covenant
term or promise contained in a lease
Exclusive Use Clause
landlords promise not to rent adjoining premises to any other entity of the same or competing business as the tenant
Waste
damage tot eh premises that reduces its value
Covenant of Quite Enjoyment
landlord's promise to do nothing to interfere with the tenant's possession and use of the premises
Additional Rent
tenant's proportionate share of maintenance costs, utilities and taxes
Surrender
abandonment of the premises by the tenant during the term of the lease
Right of Re-Entry
landlords remedy of evicting the tenant for failure to pay rent or breach of another major covenant
Distress
right of the landlord to seize assets of the tenant found on the premises and sell them to realize arrears of rent
Notice to Quit
notice of an intention to bring the tenancy to an end
Fixtures
objects that are attached to the land or to a building or other fixture on the land
Trade Fixture
object attached to the premises for the purpose of carrying on a trade or business
Tenant's Fixture
trade fixture or any other fixture attached for the convenience of the tenant or for the better enjoyment of that object
Privity of Estate
relationship between tenant and landlord created by their respective interest in the land that passes to a transferee of the interest
Leaseback
financial arrangement enabling a business to buy a building and sell it to a financial institution that, in turn, gives a long-term lease of the property back to the business.
25. Mortgage
loan contract that gives the lender an interest in the borrower's land as security for a debt
Mortgagor
borrower who gives his lender an interest in his land as security for repayment of a debt
Mortgagee
lender who accepts the interest in the land as security for a loan
Maturity Date
end of the term when debt must be repaid
Calculation Period
states at which accrued interest is added to principal
Amortization Period
length of time it should take to repay an entire debt
Term
time period during which an interest rate is fixed and principal lent
Mortgage Commitment
document in which parties to a mortgage initially agree to borrow and lend
Acceleration Clause
clause stating that upon default of any instalment, the whole of the principal sum of the mortgage and accrued interest immediately falls due
Legal Title
interest in land recognized by the common law
Redeem
have the land reconvened to the mortgagor
Equity of Redemption or Equity
right of the mortgagor to redeem mortgaged land on payment of the debt in full
Foreclosure
order by a court ending the mortgagor's right to redeem within a fixed time
Charge
lien or encumbrance on land
Chargor
mortgagor
Chargee
mortgagee
Power of Sale
right upon default to sell mortgaged land
Assumption
subsequent purchaser takes over the responsibility of paying off the mortgage
Closed Mortgage
mortgage that does not permit early repayment of the debt without a substantial penalty
Closing Date
date for completing a sale of property
General Creditor
creditor that has no security other than the debtors promise to pay
Secured Creditor
creditor that has collateral security in the form of a prior claim against specified assets of the debtor
Open Mortage
mortgage permitting repayment of the debt at any time without notice or bonus
Partial Discharge
discharge of a definite portion of the mortgaged lands
Reverse Mortgage
form of mortgage under which no repayment is due until the mortgagor sells or dies
Lising Agreement
contract between the vendor and his real estate agent creating the obligation to pay commission
Requisitions
questions concerning claims against a seller's title to property
Transfer
electronic grant that both lawyers will authorize for registration
Statement of Adjustments
document setting out all the items - both credits & debits - that must be adjusted between the parties to arrive at the correct amount to be paid