The Law Dictionary for Everyone
An executed contract is a legal document that has been signed off by the people necessary for it to become effective. The contract is often made between two or more people, but it can also be between a person and an entity, or two or more entities. Contracts often specify that one party will provide a service or goods to […]
Read moreA directed verdict occurs in a jury trial when the presiding judge orders the jury to return a specific verdict. This typically takes place when the judge learns that no reasonable jury could reach any other decision. After the directed verdict is ordered, the jury no longer has to decide the case, and is dismissed. A directed verdict may be […]
Read moreIn the legal system, a “cause of action” is a set of facts or legal theory that gives an individual or entity the right to seek a legal remedy against another. This applies to the filing of a civil lawsuit for such wrongs as property damages, personal injury, or monetary loss, as well as to criminal wrongs such as battery, […]
Read moreUnder the system of ethics described by German philosopher Immanuel Kant, a categorical imperative is an absolute moral obligation to do or not do something that applies to all rational beings, with no consideration for personal desires, motives, or inclinations. To explore this concept, consider the following categorical imperative definition. Definition of Categorical Imperative Noun A moral obligation or duty […]
Read moreA defendant is a person or entity that is facing a civil lawsuit, or that has been accused of a crime. The word “defendant” is often used interchangeably with other terms including “accused” or “respondent.” A criminal defendant has been charged with committing a crime, and is often placed in jail until bail is posted or the resolution of a […]
Read moreDefalcation occurs when an employee of a company mishandles or misappropriates funds with which they have been entrusted. This can occur in many ways, and the act of defalcation is illegal and punishable in a court of law. Similar to embezzlement defalcation is most commonly perpetrated by employees who have full access to the company’s finances or accounting records. Defalcation […]
Read moreCumulative voting is a system often used in corporations to provide minority shareholders with a vote in the matters at hand. This voting system allows shareholders to cast all of their votes to a single candidate, or split the votes up between different candidates. This enables the shareholders to have a voice on specific issues, including the election of board […]
Read moreSince colonial times, America has embraced the custom of the grand jury in criminal law. This panel of 12 to 23 ordinary citizens reviews evidence, hears sworn testimony, and otherwise conducts an investigation into alleged criminal conduct, to determine whether criminal charges should be brought against the accused. This method of establishing “probable cause” to charge a person with a […]
Read moreCommingling occurs when one party mixes funds with that of another party. It typically takes place between spouses and business partners. While commingling is legal under normal circumstances, both parties expose themselves to risk when participating in the combining of funds. For example, when new properties or funds are acquired through marriage or business partnerships, the property is considered to […]
Read moreA contract or written agreement between the issuer of a bond and the bondholder or investor is referred to a “bond indenture.” The bond indenture specifies the terms of the contract, including the interest rate, convertibility, maturity date, and other important terms. To explore this concept, consider the following bond indenture definition. Definition of Bond noun. An official document in […]
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