Week 2 Vocab Flashcards

1
Q

Abandon

A

To relinquish with intent of never resuming right or interest.

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2
Q

Assigne

A

One to whom property is transferred by assignment

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3
Q

Coogan trust

A

Since a minor cannot legally control their own money, California Law governs their earnings and creates a fiduciary relationship between the parent and the child. This change in California law also requires that 15% of all minors’ earnings must be set aside in a blocked trust account commonly known as a Coogan Account.

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4
Q

Chain of title

A

Succession of title ownership to property from one owner to the next, in unbroken line.

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5
Q

Clearance

A

Permission to use a copyrighted work, with or without payment.

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6
Q

constructive

A

a legal fiction, wherein something is deemed to have occurred by operation of law, although it may not, in fact, have actually happen

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7
Q

Common law

A

Body of law, both written and unwritten, which originated in England and which forms the general basis for moth America jurisprudence. Common law is derived from ancient usage and custom, and from the decision courts interpreting such law over centuries, and is distinguished from statutory laws which have originated through legislative acts

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8
Q

consideration

A

An element of contracts, consideration is that which one party gives to another (e.x, Money) in echange for the consideration received from that other party( e.g goods or service)

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9
Q

Contractor

A

one who performs services for another, not as an employee but as an independent business venture.

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10
Q

Counterfeit

A

Forged; False; an imitation. To make or copy without license or right

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11
Q

Executory

A

something required( as by contract) but not yet performed or done.

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12
Q

Fungible

A

Those items of property which are completely interchangeable, with each unit thereof being identical and value the nature to any other equal unit.( E.g.., A gallon of crude oil is deemed equivalent to any gallon of crude oil) Fungible property may be readily distinguished from non-fungible property (e.g, real property, intellectual property) b comparison of one unit to another. If there are unique, material characteristics, the property is not fungible. E.g, Two copies of the same edition of the same book, by the same author, in the same binding, neither of which has been altered by annotation, may be fungible; a fisrt edition and recent paperback copy of that same book are not..

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13
Q

Goodwill

A

An intangible asset of business based on its good reputation and existing relationship

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14
Q

House mark

A

Housemark refers to a trademark that helps to identify the commercial operations of a company or organization. For example, the housemark of International Business Machines Corp. is IBM and it is is used on all hardware, software, and a bevy of services provided by them. Sometimes a company name can be a housemark.

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15
Q

illegal

A

That as in which in violation of a structure , regulation or ordinance. Contrary to some specific law

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16
Q

implied contract

A

An agreement which is found to exist based on the circumstances and the conduct of the parties, although they never reduced the term of their agreement to specific words.

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17
Q

Implied covenant

A

A promise which is imputed to a contract, although not specifically expressed in word within that contract see “good faith”

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18
Q

Inherent

A

An object which is inherently dangerous is one that possesses potential hazard by its mere existence, such as explosives

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19
Q

Instrument

A

Any written and legal document such as a contract , lease, deed,bond, certificate or bond.

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20
Q

Intangible property

A

items which represent value but which have no intrinsic worth themselves, such as stock in a company.

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21
Q

Intellectual property

A

Any of various products of the intellect that have commercial value, including copyrighted property such as literary or artistic works, and ideational property, such as patents, business methods, and industrial processes.

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22
Q

intrinsic value

A

The intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value

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23
Q

Lanham act

A

More formally known as the Trademark Act of 1946 the Lanham Act (15 U.S.C 1051, et seq.) contains federals statutes governing trademark law in the United States. The Act is not the sole source of U.S trademark law, since both common law and statutes also control some aspects of trademark protection

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24
Q

Libel

A

Publication of false, defamatory material about another by means of print images.

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25
Q

License

A

Permission to perform a particular act.

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26
Q

Logo

A

A unique iconic emblem and/ or type-style, adopted by a business, group, or individual as an identifying marl “see also Trademark “

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27
Q

meeting of the minds

A

A common understanding between contracting parties as to the term of their contract.

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28
Q

Memorandum

A

A brief writing, note, summary or outline.

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29
Q

Name and Likeness

A

Unique, identifiable attributes of a person, generally including the person’s name voice, likeness and biographical information. These so-called personality or plubicity rights are protected against unauthorized commercial use under common law and in states, by stature, futher these rights have been held to be intheritable in most

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30
Q

Name and Likeness

A

Unique, identifiable attributes of a person, generally including the person’s name voice, likeness and biographical information. These so-called personality or publicity rights are protected against unauthorized commercial use under common law and in states, by stature, further these rights have been held to be inheritable in most jurisdictions , and to accrue to the benefit of a decreased personality

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31
Q

Nominative fair use

A

is a legal doctrine that provides an affirmative defense to trademark infringement as enunciated by the United States Ninth Circuit,[1] by which a person may use the trademark of another as a reference to describe the other product, or to compare it to their own.

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32
Q

Obligation

A

Legal duty to do some particular thing, or to refrain from doing some particular thing.

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33
Q

offer and acceptance

A

Method by which a contract is created and becomes effective. once an offer has been accepted, without considerations has been given in a reliance, a contract exist as between the parties(C.F, “Counteroffer”)

34
Q

Option

A

That which one may choose to do or to not do. An agreement , or a provision writhin a contract, which sets forth conditions under which a party to the agreement has the right to do or not do some particular thing, or to require the other party to do or not do some particular thing.

35
Q

Oral contract

A

Agreement made in spoken words, without reducing them to a writing. Colloquially an oral contract is frequently referred to as a “verbal” contract, however written contracts are also “verbal”

36
Q

Parol evidence rule

A

Judicial rule of evidence which generally prohibits oral testimony as to the contents of a written document, on the ground that the document speaks for itself. the rule does not forbid oral testimony which is consistent with a reasonable interpretation of the terms of writing.

37
Q

Party

A

(1) Any of the named participants in a lawsuit or other legal proceeding. (see, “litigant”) (2) Any of the persons or entities who enter into a contract and are bound to perform some obligation under that contract.

38
Q

Patent

A

Generally, any grant by govenrment authority of some privilege, property or authority. More commonly, a “patent” refers to a legal monopoly granted for a limited time, by government license, for a innovative work creative invention or improvement. Literary and artistic works are not patentable, but may be protected similarly through copyright.

39
Q

Personal Property

A

All property which is not “real property’

40
Q

Personality rights

A

is the right of an individual to control the commercial use of his or her name, image, likeness, or other unequivocal aspects of one’s identity.

41
Q

Property

A

Any thing which is or can be owned

42
Q

Quasi Contract

A

Circumstances in which thee court will, in the absence of a valid contract, nonetheless treat the parties as contracting parties, to avoid unjust enrichment of one party at the expense of the other.

43
Q

Quitclaim

A

Type of deed given without warranty of title, in which the person giving it conveys to another any and all such rights as he or she may have in respect to described real or personal property, without guarantee that any such right actually exist.

44
Q

Real Property

A

Land, including all structures which are firmly attached thereto, all improvements permanently affixed to such structures, and all vegetation growing upon that land.

45
Q

Release

A

(1) To give up a right by releasing another from an obligation to the person giving the release. Also , the written instrument by which such release is given. A release may be a “partial release” releasing only part of a claim (see also, “pro tanto”), or a “general release” giving up all known claims. also, by the inclusion of highly specific language, a general release may eliminate other legitimate claims which the person giving the release (RELEASOR) does not know exist. Caution should be known exist. Caution should be therefore be exercised in signing any release. (see known “known and unkown’)
(2) Permission to use another’s name, voice, likeness, or biographical material in connection with a commercial venture. (see “door release”)

46
Q

Reputation

A

Community opinion of a person or entity. One good name or character.

47
Q

Res

A

Literally, “Thing”. The subject matter or object of any communication, discussion, or dispute.

48
Q

Service mark

A

a legally registered name or designation used in the manner of a trademark to distinguish an organization’s services from those of its competitors.

49
Q

Slander

A

Defamation of another by spoken word. (see “defamation” and “libel”)

50
Q

Slogan

A

A phrase expressing the aims or nature of an enterprise, organization, or candidate; a motto.

51
Q

Statute of frauds

A

Law which requires that certain types of agreements must be made in writing, and not orally. Most notably (and historically) an agreement affecting title to real property must be made in writing. Additionally, writing are generally required for a contract made in consideration of marriage, a contract for for more than on year, an agreement by executor to pay for estate expenses, a contract for goods valued at more than $500 ( excepting professional and custom goods), and a promise to pay the debt of another

52
Q

Strict Construction

A

interpretation of the Constitution, or a statute or rule, in the narrowest possible manner, inferring nothing which does not appear in the plain language therof.

53
Q

Survivorship

A

Right to receive full title or ownership upon the death of a joint tenant.

54
Q

Tacit Admission

A

Failure to deny a statement or accusation which a reasonable person would deny. Conduct from which an admission or acquiescence regarding a particular statement may be reasonably inferred. Such failure or conduct may be legally interpreted as an admission that the subject statement or accusation is true247.

55
Q

Tangible property

A

Property which has actual, physical reality (e.g, A chair, as astray, ect) as distinguished from “intangible” property (e.g., the goodwill of a business.) That which can be physically measured and located in place and time.

56
Q

Tender

A

An offer of value, without further condition. The actual proffer of value, rather than the promise to do so. Tender immediately precedes delivery, which occurs the instant recipient accepts possession of the tender. Note that U.S. currency declares on its face that it is “legal tender” which can be proffered to another as payment.

57
Q

Term

A

(1) Period of time during which a contract is to remain in effect. A fixed period.
(2) The period of time during which something continues. (e.g., Term of office; a jail term, term of pregnancy.

(3) Word or phrase

58
Q

Territory

A

An assigned geographical or geopolitical location licensing, the license may be “worldwide” or limited a particular territory (e.g, the U.S, Europe, Sweden, ect)

59
Q

Third Party

A

Any person who is not a party to a contract or a transaction. One not directly in private.

60
Q

Timely

A

One time. Within the time allowed.

61
Q

Tort

A

A civil wrong. E.G, the crime of theft is also the tort of conversation, for which a civil remedy exist.

62
Q

Trade Dress

A

to characteristics of the visual appearance of a product or its packaging (or even the design of a building) that signify the source of the product to consumers. Trade dress is a form of intellectual property.

63
Q

Trademark

A

a symbol, word, or words legally registered or established by use as representing a company or product.

64
Q

Trade Name

A

Names or designations used by companies to identify themselves and distinguish their businesses from others in the same field.

65
Q

Trade Secret

A

a secret device or technique used by a company in manufacturing its products.

66
Q

Unfair competition

A

wrongful and/or fraudulent business methods to gain an unfair advantage over competitors, including: a) untrue or misleading advertising, b) misleading customers by imitative trademark, name or package, c) falsely disparaging another’s product. Although state laws vary, unfair competition is the basis for a legal action (suit) for damages and/or an injunction to halt the deceptive practices against an unfair competitor if the practices tend to harm one’s business.

67
Q

Unfair trade practices

A

Prohibited business conduct which improperly interferes with competing product or services, or which has the effect of confusing or misleading the public in respect to such competing product or service. (see “Lanham Act”)

68
Q

Unlawful

A

That which is in violation of statute.

69
Q

Unliquidated

A

Something of value which has not been converted to money, or as to which the monetary value has not been calculated or agreed

70
Q

Use in Commerce

A

The term “use in commerce” means the bona fide use of a mark in the ordinary course of trade . . . . For purposes of this Act, a mark shall be deemed to be in use in commerce —

(1) on goods when —

(A) it is placed in any manner on the goods or their containers or the displays associated therewith or on the tags or labels affixed thereto, or if the nature of the goods makes such placement impracticable, then on documents associated with the goods or their sale, and

(B) the goods are sold or transported in commerce, and

(2) on services when it is used or displayed in the sale or advertising of services and the services are rendered in commerce, or the services are rendered in more than one State or in the United States and a foreign country and the person rendering the services is engaged in commerce in connection with the services.
71
Q

USPTO

A

The United States Patent and Trademark Office (USPTO or Office) is an agency of the U.S. Department of Commerce. The role of the USPTO is to grant patents for the protection of inventions and to register trademarks

72
Q

Unsurp

A

To take over the authority, rights, office, privillege, or property of another, without right, through, guile or by force

73
Q

Vend

A

To sell

74
Q

Vendee

A

A buyer

75
Q

Vendor

A

A seller

76
Q

Verbal Contract

A

Often used erroneously as a synonym for “oral contract” a verbal contract is one which has been expressed in words, whether oral or written, as distinguished from an “implied contract”

77
Q

Void

A

referring to a statute, contract, ruling or anything which is null and of no effect. A law or judgment found by an appeals court to be unconstitutional is void, a rescinded (mutually cancelled) contract is void, and a marriage which has been annulled by court judgment is void.

78
Q

Voidable

A

That which can be declared void by reason of legal defects

79
Q

Waiver

A

the intentional and voluntary giving up of something, such as a right, either by an express statement or by conduct (such as not enforcing a right).

80
Q

Zone of privacy

A

Those areas of each person’s life in which there is a reasonable expectation of privacy which may not be invaded by the public, the pres, or by governmental agencies without due process. The extent of this zone of privacy varies based on the character of the person asserting it. E.g., a “public figure” has a smaller zone of privacy than does an “ordinary” person. see “public figure”