Category: Commercial Law
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Apprentice.
Legal Definition and Related Resources of Apprentice. Meaning of Apprentice. One who binds himself to serve and learn for a definite time from a master, who on his side covenants to teach his trade or calling. See Clements v. L. & N.W. Ry. […]
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Marine Insurance
Legal Definition and Related Resources of Marine Insurance Meaning of Marine Insurance An insurance against marine losses, that is, the losses incident to marine adventure. An insurance against risks connected with navigation to which a ship, […]
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Bond
Legal Definition and Related Resources of Bond Meaning of Bond A contract under seal to pay a sum of money ; a contract under seal acknowledging a debt, present or future. This is a single bond. A double bond is one where there is a condition […]
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Loan
Call Loan Definition (in the Accounting Vocabulary) The New York State Society of Certified Public Accountants offers the following definition of Call Loan in a way that is easy for anybody to understand: Loan repayable on demand. Also known as DEMAND LOAN. Loan Definition (in the Accounting […]
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Redemption
The process of cancelling and annulling a defeasible title , such as is created by a mortgage or tax sale, by paying debt or fulfilling the condition . The process of redeeming: See equity of redemption .
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Penalty
Legal Definition and Related Resources of Penalty Meaning of Penalty A punishment . Suffering in person or property as a punishment annexed by law or judicial decision to a violation of law. Also a definite sum named in a contract , not as a […]
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Partnership
The relation subsisting between two or more persons who have contracted together to share as common owners the profits of a business carried on by all or any of them on behalf of all of them, Shumaker, Partnership, 2. Elements : The essential elements of a partnership are (1) a contract […]
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Delivery
Legal Definition and Related Resources of Delivery Meaning of Delivery The act by which the res or substance thereof is placed within the actual or constructive possession or control of another. In the sale of goods , delivery takes place when […]
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Interest
Legal Definition and Related Resources of Interest Meaning of Interest In relation to being objectively concerned in something, by having a right or title to, a claim upon, or a share in. legal concern in a thing; especially right or title to […]
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Sale
Legal Definition and Related Resources of Sale Meaning of Sale The transmutation or transfer of the property in a personal chattel from one person to another for a consideration paid or agreed to be paid. state v Mitchell, 156 N.C. 659, 72 S.E. […]
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Debt
Legal Definition and Related Resources of Debt Meaning of Debt That which is due from one person to another, whether money , goods or services; that which one person is bound to pay or perform for another. Garsson v American Diesel Engine Corp., […]
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Toll
Legal Definition and Related Resources of Toll Meaning of Toll A fixed charge for some privilege granted or service rendered, especially one granted or rendered to the public and payable by whomsoever chooses to utilise the privilege or avail of […]
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Toll
Legal Definition and Related Resources of Toll Meaning of Toll A fixed charge for some privilege granted or service rendered, especially one granted or rendered to the public and payable by whomsoever chooses to utilise the privilege or avail of […]
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Composition
The elements or parts as a whole that make up a thing and their relation to each other . A literary, artistic or musical production and a general structure of arrangement or style of a work of art. A contract between a debtor and his creditors by which the debtor obtains a […]
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Composition
The elements or parts as a whole that make up a thing and their relation to each other . A literary, artistic or musical production and a general structure of arrangement or style of a work of art. A contract between a debtor and his creditors by which the debtor obtains a […]