Business Law Glossary

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Last updated 4:27 AM on 6/10/26
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8 Terms

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Acceptance

An agreement of an offer resulting in a contract

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Accord and Satisfaction

An agreement made and executed in satisfaction of the rights one has from a previous contract

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Agent

The party appointed by the principal to enter into a contract with a third party on behalf of the principal

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Alien Corporation

One that is incorporated in a foreign country

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Answer

Official document detailing a defendant’s defense

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Antitrust

Laws which seek to promote competition among businesses

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Apparent Authority

The authority an agent is believed by third parties to have because of the behavior of the principal

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Appeal

Request to a high court to review a lower court’s decision