NY BAR REVIEW DEFINITIONS EXPRESSIONS Flashcards
Tactical military decisions
Military Decision Making Process (MDMP) is a United States Army seven-step process for military decision-making in both tactical and garrison environments. It is indelibly linked to Troop Leading Procedures and Operations orders
Expectation damages
damages recoverable for breach of contract and designed to put the injured party in the position he would have been in had the contract been completed
Absolute privilege for defamation
Absolute privilege is a complete defence to an action for defamation in English law. If the defence of absolute privilege applies it is irrelevant that a defendant has acted with malice, knew information was false or acted solely to damage the reputation of the plaintiff.
Privilege, or immunity, is also a defense against a claim of defamation. Absolute privilege is an old common-law privilege that protects members of lawmaking bodies from charges of defamation for statements made “on the floor” of their legislative bodies, without regard for whether the words are stated in good faith.
Wrap around mortgage
a second or later mortgage that incorporates the debt of a previous mortgage with additional debt for another loan
Shocks the conscience
perceived as manifestly and grossly unjust
Relate back doctrine
Doctrine of Relation Back is a principle that something done today will be treated as if it were done earlier.
Fed Rules Civ Proc R 15 (c) Relation Back of Amendments. (1) When an Amendment Relates Back. An amendment to a pleading relates back to the date of the original pleading when: (A) the law that provides the applicable statute of limitations allows relation back;
(B) the amendment asserts a claim or defense that arose out of the conduct, transaction, or occurrence set out–or attempted to be set out–in the original pleading; or (C) the amendment changes the party or the naming of the party against whom a claim is asserted, if Rule 15(c)(1)(B) is satisfied and if, within the period provided by Rule 4(m) for serving the summons and complaint, the party to be brought in by amendment: (i) received such notice of the action that it will not be prejudiced in defending on the merits; and (ii) knew or should have known that the action would have been brought against it, but for a mistake concerning the proper party’s identity.
Enabling clause
a provision in a new statute which empowers a particular public official (Governor, State Treasurer) to put it into effect, including making expenditures.
Enumerated powers
The enumerated powers listed in Article One include both exclusive federal powers, as well as concurrent powers that are shared with the states, and all of those powers are to be contrasted with reserved powers that only the states possess. The enumerated powers are a list of items found in Article I, Section 8 of the U.S. Constitution that set forth the authority of Congress.[1] In summary, Congress may exercise the powers that the Constitution grants it, subject to the individual rights listed in the Bill of Rights. Moreover, the Constitution expresses various other limitations on Congress, such as the one expressed by the Tenth Amendment: “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
Actual notice
actual awareness or direct notification of a specific fact, demand, claim, or proceeding.
awareness of such a fact, claim, demand, or proceeding.
express notice.
inquiry notice
notice that is imputed to a party having knowledge of a fact or circumstance that would cause a reasonable party to inquire further or having possession of a means of knowing a particular fact and that is considered a form of actual notice
Constructive notice
implied notice.
notice that one exercising ordinary care and diligence as a matter of duty would possess and especially that is imputed by law rather than from fact.
Legislative veto
a resolution passed by one or both houses of a legislature that is intended to nullify an administrative regulation or action
Appraisal rights
A right of shareholders in a merger to demand the payment of a fair price for their shares, as determined independently.
In mergers and acquisitions, the right of shareholders who object to being acquired to demand a fair price for their shares, as determined by a court. In theory, this guarantees that shareholders are adequately compensated for being overridden on the merger or acquisition. These shareholders may elect to have their shares purchased by the acquiring corporation at the price set by the court. In the United States, most states grant appraisal rights in their regulatory statutes.
Return on investment
Generally, book income as a proportion of net book value.
The money that a person or company earns as a percentage of the total value of his/her/its assets that are invested. It is calculated thusly:
Return on investment = (Income - Cost) / Cost
Because it is easy to calculate the return on investment, it is a relatively popular measure of the profitability on an investment and can help in making investment decisions.
Statute of repose
a statute that bars a cause of action after a period of time running from a particular act (as the delivery of a product) or event even if the cause of action has not accrued (as upon discovery of a defect)
