final Flashcards
A statute is
a formal written enactment of a legislative authority that governs a city, state, or country. Typically, statutes command or prohibit something, or declare policy.
autre vie:
Another’s life. A person holding an estate for or during the life of another is called a tenant “pur autre vie,” or “pur terme d’autre vie.” Litt.
Ad idem
is a Latin word of “meeting of the minds.” If two parties to a contract understand the terms and conditions of a contract in the same manner, then it is said that the parties are “ad idem” on the terms and conditions.
certificate of title
legal doc which evidences ownership of land
in vies:
don’t own land absolutely
cAveat emptor;
the principle that the buyer alone is responsible for checking the quality and suitabillity of goods before they’re purchased
bona fide:
sincerly, without intention to deceive
nemo dat quod non habet
a person who does not own property, especially a thlef, cannot confer it onto another without the owners permission
chattel mortgage:
mortgage against personal property
conditional sales contract
one in which a seller gives up posession & retains or keeps title
limitationl of civil rights act:
can’t sue for money owned with debt
quit claim deed:
states you’ll only stay until a specific date
proviso
a condition attached to an agreement.
discharge of contract:
agreement -> performance -> impossibility -> operation of law
secured creditor
A secured creditor is generally a bank or other asset-based lender that holds a fixed or floating charge over a business asset or assets.
preferential creditor
(in some jurisdictions called a preferred creditor) is a creditor receiving a preferential right to payment upon the debtor’s bankruptcy under applicable insolvency laws.
ordinary/general
fradulent transfer
anything to avoid creditors
fradulent preference:
favoring one creditor over another
tort:
a civil wrong compensated by money damages
volenti non fit injuria:
if someone willing put themselves in a situation where harm may result, they may not take it against the other in torts
emergency medical aid act:
volunteer first aiders not liable
libel:
written defamation
slander:
spoken defamation
defences to battery
consent
self-defense
false imprisonment