LEGAL TERMS Flashcards
to garnish
to take part of the income or property of someone who owes a debt and give it to a court in order to pay the debt
dissent
a strong difference of opinion on a particular subject, especially about an official suggestion or plan or a popular belief
to dissent
(of a judge) to offer a legal opinion in a court that differs from the opinion of most of the other judges of the court
to remit
to send money to someone.
the types of activity that a person or organization has responsibility for.
patrimony
- the property that someone gets from their father after his death
- the valuable objects, buildings, ideas, etc. that a society gets from the people who have lived in the past
mandate
- an official order or requirement to do something
- official permission or the right to do something, usually given as the result of a vote
- the period of time that a government or an elected person is allowed to remain in power
inconsequential
not important
fallout
the bad things that happen after a particular event
merit
- the quality of being good and deserving to be praised or rewarded, or an advantage that something has
- if a court decides that a complaint, case, etc. has merit, it accepts that it is true or there is evidence for it
backup
a person, plan, piece of equipment, etc. that you can use to replace another if necessary
leverage
the relationship between the amount of money that a company owes and its share capital or value
leveraged loan
a type of loan that is extended to companies or individuals that already have considerable amounts of debt or poor credit history. Lenders consider leveraged loans to carry a higher risk of default, and as a result, a leveraged loan is more costly to the borrower
investment-grade debt
the type of bond or other loan that has a low risk of not being paid back
vulnerable
able to be easily hurt, influenced, or attacked
to downgrade
to state that something such as a company is likely to produce less profit or growth, to be less able to pay back debt, etc. than was previously thought
simultaneous
happening or being done at exactly the same time
to mitigate
to make something less harmful, unpleasant, or bad
mitigating circumstances
situations that are not an excuse for a crime, but that a court of law may consider to be important enough to reduce the blame or punishment of the accused person
forbearance
- the quality of being patient and being able to forgive someone or control yourself in a difficult situation
bridge financing
a form of temporary financing intended to cover a company’s short-term costs until the moment when regular long-term financing is secured. Thus, it is named as bridge financing since it is like a bridge that connects a company to debt capital through short-term borrowings
deluge
a very large volume of something, more than can be managed
backstop
something such as a plan or method that can be used if all other plans or methods fail
to inflict
to force someone or something to experience something unpleasant
holdout
- a person, organization, or country that continues to do something, despite other people trying to force them not to
- a person, organization, or country that continues to refuse to accept something that others have already accepted, despite other people trying to persuade them to
workout
a type of financial arrangement for someone who is having difficulty paying back their debts
to impose
to introduce a new law, tax, rule, or punishment
to introduce a new law, tax, rule, or punishment
to help people deal with a process or reach an agreement or solution without getting directly involved in the process, discussion, etc. yourself
feasible
possible to do and likely to be successful
prudent
careful in the way that you make decisions or spend money so that you avoid unnecessary risks
to replicate
to make or do something again in exactly the same way
Pareto efficiency
a situation that cannot be modified so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off
ransom
a large amount of money that is demanded in exchange for someone who has been taken prisoner, or sometimes for an animal
to bolster
to support something, or make something stronger
unaccustomed
(of a person) not familiar with or experienced at something
elusive
difficult to describe, find, achieve, or remember
venue
the city or county in which a trial happens
disenfranchised
not having the right to vote, or a similar right, or having had that right taken away
integrity
the quality of being honest and having strong moral principles that you refuse to change
inhibited
not confident enough to say or do what you want
rampant
used to describe something bad that gets worse very quickly and in an uncontrolled way
merit
the quality of being good and deserving praise
contagion
the fact of economic problems in one country, region, etc. spreading to another