Law vocabs

Question 1

Adjudicate

Answer 1

To make an official decision about who is right in (a dispute)

Question 2

Precedent

Answer 2

An earlier event or action that is regarded as an example or guide to be considered in subsequent similar circumstances.

Question 3

Expropriation

Answer 3

Act of a government claiming privately owned property against the wishes of the owners

Question 4

Contingencies

Answer 4

a future event or circumstance which is possible but cannot be predicted with certainty.

“allow an extra fifteen percent in the budget for contingencies”

Question 5

stare decisis (italian)

Answer 5

let the former decision stand

Question 6

interim

Answer 6

temporary; ““an interim arrangement”

Question 7

statute

Answer 7

A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent.

Question 8

legislation

Answer 8

statute law; body of law made by our government representatives in the federal, provincial or municipal council.

Question 9

provision

Answer 9

1. the action of providing

2. an amount of things being provided

Question 10

Appellant

Answer 10

Person who brings appeal to the higher court / appellate court

Question 11

Litigation

Answer 11

the process of taking legal action.

Question 12

levies

Answer 12

a taxing authority or a bank can seize property for the payment of a debt.

Question 13

Prospestive

Answer 13

expected or likely to happen

Question 14

fiduciary

Answer 14

Involving trust, especially with regard to the relationship between a trustee and a beneficiary.

Question 15

vicarious liabilities

Answer 15

a situation in which one party is held partly responsible for the unlawful actions of a third party.

Question 16

fiscal year

Answer 16

A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting. A fiscal year is most commonly used for accounting purposes to prepare financial statements. Although a fiscal year can start on Jan. 1 and end on Dec. 31, not all fiscal years correspond with the calendar year.

Question 17

stakeholder vs. agent

Answer 17

Stakeholder = Any action taken by any organization or any group might affect those people who are linked with them in the private sector / a party that has an interest in a company

Agent = a person who acts on behalf of another person or group. a person or thing that takes an active role.

Question 18

Reprimand

Answer 18

a rebuke, especially an official one.

Example:

“the golfer received a reprimand for a breach of rules”

Question 19

Infraction

Answer 19

a violation or infringement of a law or agreement.

Question 20

easement

Answer 20

An easement is a nonpossessory right to use and/or enter onto the real property of another without possessing

Question 21

conveyance

Answer 21

the legal process of transferring property from one owner to another.

Question 22

abate

Answer 22

cause something to be less serious.

E.g. abate a tort

Question 23

Conveyance

Answer 23

the legal process of transferring property from one owner to another.