The Law Dictionary for Everyone
Apparent authority arises when someone reasonably believes a person has the authority to act on behalf of another person or entity to engage in business transactions or enter into contracts. Typically, this belief stems from the person’s actions leading to the belief that they have been given authority to act. The issue of apparent authority is most often relevant in […]
Read moreAnticipatory repudiation, also known as “anticipatory breach” takes place when a contract is made and one party stops acting in accordance with the contract, which leads the other party to believe that the breaching party has no intention of fulfilling the requirements as stated in the contract. The breaching party simply has to give other party the impression that they […]
Read moreWhen any party to a contract, whether oral or written, fails to perform any of the contract’s terms, they may be found in breach of contract. While there are many ways to breach a contract, common failures include failure to deliver goods or services, failure to fully complete the job, failure to pay on time, or providing inferior goods or […]
Read moreActual authority allows a third party to act on behalf of, and engage in decision-making for a company or agency. Any authorization, decision, or act taken by the third party acting with actual authority is legally binding and enforceable within the courts. To explore this concept, consider the following actual authority definition. Definition of Actual Authority Noun Specific powers granted […]
Read moreA contract of adhesion refers to a contract drafted by one party in a position of power, leaving the weaker party to “take it or leave it.” Adhesion contracts are generally created by businesses providing goods or services in which the customer must either sign the boilerplate contract or seek services elsewhere. To explore this concept, consider the following adhesion […]
Read moreArbitration is a form of Alternative Dispute Resolution in which the parties work out the disputed issue without going to court. An impartial third party, known as an Arbitrator, is chosen by the parties to listen to their case and make a decision. The meeting takes place outside court, but is much like a hearing, in that both sides present […]
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