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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.