Source: www.ucok.edu
Topic: Business Law
Sort Desciption: Business law - those rules of conduct prescribed by government and its agencies in ... Corporation - a business entity created by statutory law and owned by ...
Content Inside: BUSINESS LAW B GLOSSARY Acceptance - an agreement to an offer resulting in a contract. Accord and satisfaction - an agreement made and executed in satisfaction of the rights one has from a previous contract. Agent - the party appointed by the principal to enter into a contract with a third party on behalf of the principal. Alien corporation B one that is incorporated in a foreign country. Answer B official document detailing a defendant=s defense. Antitrust - laws which seek to promote competition among businesses. Apparent authority - the authority an agent is believed by third parties to have because of the behavior of the principal. Appeal B request to a higher court to review a lower court=s decision. Appellate courts - courts hearing cases appealed from a lower court. Arraignment B charging a person with a crime and asking for that person=s plea. Arrest B to take into police custody. Assignee - the party to whom the assignment is made. Assignment - a means whereby one party in a contract conveys rights to another person who is not a party to the original contract. Assignor - the party making the assignment. Authority B power to act for someone else. Bailee - the party who acquires possession but not the title of personal property by one party to another under agreement. Bailment - the transfer of possession but not the title of personal property by one party to another under agreement. Bailor - the party who gives up possession but not the title of personal property in a bailment. Bear B a person in possession of an instrument. Bearer paper B commercial paper payable to bearer; i.e. to the person having possession of such. Beneficiary B recipient of the proceeds of a life insurance policy: one who inherits property as specified in a will. Bilateral contract - a contract which consists of mutual promises to perform some future acts. Bill of lading - the contract existing between the consignor and the carrier. Bill of sale - a document ...
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