A shared understanding of the complex terminology that is part of this area of. Significance and relevance to modern civilized society sources of indian law. Businesses can be forprofit entities or nonprofit organizations. Each state has the option of adopting or rejecting all or part of a uniform law. It does not mean it is a company, a corporation, partnership, or has any such formal organization, but it. A glossary of business terms provides you with definitions of the common words used in all the aspects of business. This is the law that is common to the entire realm or population. Abe diploma in business administration study manual principles of business law contents study unit title page syllabus i 1 nature and sources of law 1 nature of law 3 historical origins 6 sources of law 9 the european community and uk law.
A bankruptcy case in which the debtor is a business or an individual involved in business and the debts are for business purposes. Business law and the regulation of business free pdf, chm. Business law deals with the creation of new businesses and the issues that arise as existing businesses interact with the public, other companies, and the government. Basic contract terminology contracts are an important part of business life. Any and all persons designated and authorized to transact business on behalf of an account.
Other popular areas include insurance, wills and estate planning, and consumer and creditor protection. The law can be complicated and it is often described in technical terminology that many people might find unfamiliar. Apec was established in 1989 to further enhance economic growth and prosperity for the region and to strengthen the asiapacific community. Consists of laws that list the rights and obligations of each person in society. Glossary of business terms a to z business the guardian.
Business law terminology offer and acceptance assignment law. Course summary use this selfpaced course to learn about topics like antitrust laws and the origins of laws while earning an introduction to business law certificate. Business law and legal definition business law encompasses the law governing contracts, sales, commercial paper, agency and employment law, business organizations, property, and bailments. This area of the law draws on a variety of legal disciplines, including tax law, intellectual property, real estate, sales, employment law, bankruptcy, and. A broad concept that describes the substantive law that governs transactions between business entities, with the exception of maritime transportation of goods regulated by admiralty and maritime law.
An agency is terminated by achievement of agency purpose, agreement, will of either party, lapse of time or a specific event, revocation, renunciation, death or insanity, impossibility, bankruptcy, war. First, common law is still alive and well in ma ny aspects. Let usgo deeper into business terms glossaryor business terminologies of business communication via categories for cseet exam. In its simplest terms, statutor y law consists laws enacted. The latter part of this statement is the antidiversion clause. This course will provide learners with ideas and suggestions for the best methods and techniques for buying products and services they need. This pdf document allows you to expand the table of contents on the lefthand side of the page. Case law is merely the rules of law announced in court. Abandon v abate v to abate a nuisance abatement abdicate v abdication abduct v abduction abet v to aid and abet abetment abeyance in abeyance ab initio abode abolish v to abolish slavery. This glossary provides short definitions of legal terms you will find on this website. Eric was the custodian of amy, and was the executor of her fathers will. Published on march 20, 2015 march 20, 2015 28 likes 2 comments. An introduction 4 overview access to text all of this material in this text is available in desktop and mobile browser or pdf format at. A free glossary of business contracts jargon, legal terms and definitions.
A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. European dictionary of selected legal terms the words you need. A guilty act the prohibited conduct or behaviour that the law seeks to prevent. A complete collection of every document filed in court in a case. Glossary of business terms adjective adj headwords for adjectives followed by information in square brackets only before a noun and not before a noun show any restrictions on where they can be used. You can easily search, bookmark, highlight, and underline the text material. Basic concepts of business law that entrepreneurs should know. Bankruptcy refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in. Normally, under german law, contracts are regulated only to make sure that they are not null and void due to conflicts with prohibitory laws or because they are. The purpose of a business plan is to enable owners to have a defined picture of potential costs and drawbacks to business decisions and to help them. If a state adopts the law, it becomes statutory law in that state. They establish agreements between you and your employees, landlords or tenants, suppliers, customers and with other businesses. It brings together in a handy pocket format a guide to more than legal and commercial expressions commonly encountered or used by us corporate counsel. Many lawyers are now adopting a plain english style.
Business law terms paulding county school district. Handy definitions of financial and economic jargon from libor and quantitave easing to black swans and dead cat bounces. Glossary of business terms and definitions business zeal. The easiesttoread, most userfriendly guide to legal terms. He had to show due diligence in executing both the needs of her father, and care for the child.
One of the reasons for studying business law is to learn to predict what the law will be in the conduct of businesses both at the national and international level. Solicitors are the experts when it comes to the law and how it affects you. Handy definitions of financial and economic jargon from libor and quantitave easing to black swans and dead. B stare decisis is the practice of deciding new cases with reference to former cases. International business laws pondicherry university. Business law an introduction the business professor. Easytouse free business glossary with over 20,000 terms. Out of the vast list covering the most significant terms should be fruitful activity since theother terms are selfexplanatory by virtue of their names. As the text states, common law includes some as pects of statutory and case law dating back prior to the american revolution. They are usually drawn up by solicitors and can contain a lot of legal jargon. Constitution statutory law written law set down by a legislature administrative law decisionmaking of administrative units of government common law case law or precedent, developed by judges through their rulings. The a to z guide to legal phrases plain english campaign. A model law created by the national conference of commissioners on uniform state laws andor the america law institute for the states to consider adopting.
Law rule of conduct enforced by controlling authority. The process includes preparation and processing of a demand as well as the end receipt and approval of. If you work with corporations you will need to concentrate on corporate law, contractual terms and the uniform commercial code ucc. Controls the relationship between the governments and the people who live in society. But there are still legal phrases that baffle nonlawyers.
Pdf kinship terminologies consist of the terms used to reference culturally recognized kinship relations between persons. A precedent is merely a prior case which is similar in legal principle or fact. Noun n the codes c and u show whether a noun, or a particular sense of a noun, is countable an agenda, two agendas or uncountable. Business law is that part of the law which deals with mercantile transactions of mercantile people. Business law terminology free download as word doc. Therefore, it is imperative to know what business law is. Glossary of basic legal terms definitions money instructor. All content included on our site, such as text, images, digital downloads and other, is the property of its content suppliers and protected by us and international laws. A business plan is a written document that describes in detail how a new business is going to achieve its goals from a marketing, financial and operational viewpoint.