Deck 4 Flashcards
Appertaining to Applicant
the person asking a court to do something.
Appointee
the person who gets the benefit of the use of a
power of appointment.
Appointor
the person who uses a power of appointment.
Appurtenances
minor rights in land such as a right to do something
on the land.
Arbitrage
is:
• borrowing money at a low rate of interest to
lend out again at a higher rate; or
• buying and selling in different markets to make
profits out of the price differences.
Arbitration
settling a dispute by using a referee. If a dispute
goes to arbitration it is settled by an independent
referee. It avoids having to use the courts to settle
the dispute.
Arbitrator
the independent referee who settles a dispute
without the need to use the courts.
Arraignment
a procedure at the start of a trial when details of the
offences are read out and the defendants are asked
whether they will plead guilty or not guilty
Arrest
to seize someone, usually because they are
suspected of committing a crime, and take them into
custody.
Arrestable offence
a crime for which a person may be arrested without a
warrant being needed.
Arson
setting fire to something to cause damage to it.
Articles
the clauses in a document. A company’s articles set
out its rules. The articles form part of the
memorandum and articles of association.
Articles of association
documents which set out a company’s rules.
Assault
when someone threatens another person with
physical harm. Words on their own do not amount to
assault but threatening gestures do, even if the
person threatened is not touched.
Assent
a document used by personal representatives to
transfer property to a beneficiary
Asset
something owned such as a building, a vehicle or
money in the bank
Assign
to formally transfer something, such as when
ownership of property is transferred from one person
to another.
Assignment
the formal transfer of the rights to something. An
example would be a bank customer assigning to the
bank the right to receive the benefits from a life
insurance policy to give the bank security for a loan.
Assurance
insurance cover for an event which will definitely
happen, such as death.
Assure
to transfer the ownership of something.
Assured
the person whose life is insured or who is entitled to
receive the benefit from the assurance cover.
Assured shorthold Tenancy
a type of tenancy agreement under which the landlord
has the right to take the property back at the end of
the tenancy agreement.
Attachment of earnings
a court order that deductions be made from a
person’s earnings. The employer pays the money
collected to the court and the court pays the money
to the people it is owed to.
Attest
to sign to witness a signature on a document.
Attorney
a person appointed to act for another person (such
as when someone cannot look after their own
affairs). A formal document called a power of
attorney is used to appoint the attorney.
It is also the name used for a US lawyer.
Attorney General
the chief legal adviser to the Government. He or she
must be a Member of Parliament (or have a seat in
the House of Lords) and must be a barrister.
Audit
an independent examination of an organisation’s
records and financial statements (report and
accounts) to make sure that:
• the financial statements show a fair reflection
of the financial position at the accounting date;
• the income and spending is shown accurately;
• the financial statements meet any legal
conditions; and
• the financial statements are drawn up clearly.
Auditor’s report
a report and opinion, by an independent person or
firm, on an organisation’s financial records.
Authorised share Capital
the highest amount of share capital that a company
can issue. The amount is set out in the company’s
memorandum of association.
Authorised
Investments
investments in which a trustee is permitted to invest
trust money, under an Act of Parliament.
Autopsy
an examination of a dead body to find the cause of
death.
