Week One

Question 1

Ab initio

Answer 1

From the (it’s) beginning. An act made void ab initio is deemed to have never had legal effect at any time.

Question 2

Accede

Answer 2

To consent, agree or acquiesce

Question 3

Acceptance

Answer 3

To receive with approval or satisfaction. Acceptance (without condition or qualification) of an offer, consideration, results in a contract, under the doctrine of “offer and acceptance.” Generally, acceptance is either (a) express (or absolute) ; (b) conditional ; (c) implied; or (d) qualified

Question 4

Accommodation

Answer 4

Arrangement made as a favor to another, within consideration in return.

Question 5

Accrue

Answer 5

To arise, happen, coke into being. To become due.

Question 6

Advance

Answer 6

Payment made prior to the time when it is legally due.

Question 7

Alienation

Answer 7

Transfer of title to property, voluntarily and completely. The right of alienation - i.e., the right to lawfully dispose of ones own property -is a fundamental right.

Question 8

Ambiguity

Answer 8

That satisfaction which exist when contract language is subject to more than one legitimate interpretation, so that it’s intended meaning and effect is uncertain

Question 9

American rule

Answer 9

Doctrine which provides that, in United States, each party to a lawsuit must bear the expense of its own attorneys fee unless there is a contract which specifically provides for recovery of such fees, or a statue which authorizes an award of attorneys fees for the particular cause of action pled proven

Question 10

As is

Answer 10

In sales contracts, the statement that the subject matter is being conveyed in whatever condition it may then have, with the conveying party making no warranty as to its condition or suitability, and with the purchaser assuming all risk in regards to its usability

Question 11

Audiovisual

Answer 11

Referring to a work compromised of both sounds and visual images, such as a motion picture or music video.

Question 12

Bonus

Answer 12

A non refundable, non recoupable payment which is not deducted from or credited towards earned royalties.

Question 13

Cap

Answer 13

Common term for maximum, usually established within a contract by a statement that some calculated payments or accumulation of payments, will be for no more than a fixed sum or percentage.

Question 14

Caveat

Answer 14

A warning. Literally, beware!

Question 15

Concurrent

Answer 15

At the same time.

Question 16

Constitution

Answer 16

The fundamental, underlying agreement which forms the foundation for all laws and government operations.

Question 17

Construction

Answer 17

The act of interpreting, analyzing, and determining the intended meaning of a legal writing such as a contract or statute

Question 18

Contingency

Answer 18

Some eventuality which might not occur, but for which some pre-planning is nonetheless prudent.

Question 19

Covenant

Answer 19

An enforceable promise, generally memorialized within a contract or recorded instrument

Question 20

Discretion

Answer 20

The power of a judge, public official or a private party to make a decision based upon a personal perception rather than upon some strict rule. What one may do(discretionary), as distinguished from what one shall do(non-discretionary).

Question 21

Entity

Answer 21

Generic term for any “person,” including a corporation, partnership, institution, company, or other form of recognized existence

Question 22

Equity

Answer 22

1. (business) An ownership interest in a business.
2. (business) Difference between value of property and debt accrues against that property.
3. (Law) Justice administered by court, without jury, according to principles of fairness as distinct from strict adherence to a statute or common law. Denotes actions in conformity with the spirit of justice and fairness. Actions in equity include declaratory relief and other “Equitable” remedies

Question 23

Express

Answer 23

Actually stated in direct, unambiguous, distinct language.

Question 24

Full faith and credit

Answer 24

Article IV, section 1 of United States Constitution requiring each state to accept act of each other state as proper and lawful

Question 25

Gamut

Answer 25

The entire range or scope of something. Contraction of gamma-it derived from gamma used to represent the lowest musical tone on the scale.

Question 26

Genre

Answer 26

Type or kind. A style or category of artistic composition, marked by a distinctive form, content, or intended audience.

Question 27

Germane

Answer 27

Relevant; pertinent; applicable.

Question 28

Habeas corpus

Answer 28

“You have the body”. Proceeding to compel a judicial determination as to the legal sufficiency of due process. The right to habeas corpus was considered so essential that it is the only specific individual right included within the body of the constitution, rather than within the subsequent Bill of Rights (Amendments I through X)