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Most Popular Legal Definitions

bona fide

 Latin for "good faith," it signifies honesty, for example, "The defendant made a bona fide attempt to arrive in court on time"

trade

1)  a business or occupation for profit, particularly in retail or wholesale sales or requiring special mechanical skill 2) to exchange one thing for another

silent partner

A person who invests in a company or partnership but does not take part in administering or directing the organization.

capital

1)  From Latin for caput, meaning 'head', the basic assets of a business or of an individual, including actual funds, equipment and property as distinguished from stock in trade, inventory, payroll, maintenance and services. 2) related to the basic assets or activities of a business or individual, such as capital account, capital assets, capital expenditure, and capital gain or loss 3) an amount of money a person owns

aleatory

uncertain; usually applied to insurance contracts in which payment is dependent on the occurrence of a contingent event, such as injury to the insured person in an accident

vendor

A seller, particularly of real property.

lawyer

A person who has been trained in the law and that has been certified to give legal advice or to represent others in litigation.

non-profit

Operated as nearly as possible at cost; an organization not seeking profit and which does not disgorge excess income to its members

minutes

The official record of a meeting.

caveat emptor

Latin for "let the buyer beware." The basic premise that the buyer buys at his/her own risk and therefore should examine and test a product himself/herself for obvious defects and imperfections.