Legal and Business Vocabulary

A collection of legal and business vocabulary terms and their definitions based on the lecture notes.

PRIVATE LAW

The area of law that regulates relationships between private individuals or businesses.

PUBLIC LAW

The area of law that governs the relationship between individuals and the government.

JURISPRUDENCE

The study and theory of law and legal systems.

AGENCY LAW

The law that allows one person to act on behalf of another.

BANKRUPTCY LAW

The law dealing with people or companies that cannot pay their debts.

CARRIAGE OF GOODS

The law governing the transportation of goods from one place to another.

COMPETITION LAW

The law that promotes fair competition and prevents unfair business practices.

DEBTOR AND CREDITORS LAW

The law regulating relationships between borrowers and lenders.

INTELLECTUAL PROPERTY LAW

The law protecting inventions, creative works, and brands.

LANDLORD AND TENANT LAW

The law governing the rights and duties of landlords and tenants.

MERCANTILE AGENCY

An organization that provides information about the financial reliability of businesses.

MORTGAGE

A loan in which property is used as security.

NEGOTIABLE INSTRUMENTS

Transferable documents that guarantee the payment of money.

SECURED TRANSACTIONS

Financial transactions where an asset is used as collateral.

REAL PROPERTY

Land and any buildings permanently attached to it.

TAX LAW

The law governing the collection and payment of taxes.

COMMERCIAL TRANSACTIONS

Business activities involving the exchange of goods or services.

SUBSTANTIVE LAW

The law that defines legal rights and obligations.

NON-CONTENTIOUS WORK

Legal work that does not involve disputes.

CONTENTIOUS WORK

Legal work involving disputes or court cases.

CIVIL CODE

A written collection of laws covering private legal matters.

LEGISLATURE

A body that makes and changes laws.

TRADE AGREEMENTS

Formal agreements between countries about trade.

Certificate of incorporation

An official document that proves a company has been officially created

Constitutional documents

Documents that explain how a company is organized and managed

Memorandum of association

A documents that states the basic purposes and details of a company

Regulation

An official rule made by the government or authority

Business entity

A legal recognized organization that carries out business activities

Regulator

authorities that ensure companies follow laws and regulations

Third party

Someone who is not directly but indirectly involved in a contract

Company formation

The process of creating and registering a company