Gavrilov Alexey

Home Task 5 Business Law (Stephen Judge) Definitions

tribunal (trI-byoo-nəl). (15c) 1. A court or other adjudicatory body. 2. The seat, bench, or place where a judge sits.

umpire. (15c) An impartial person appointed to make an award or a final decision, usu. when a matter has been submitted to arbitrators who have failed to agree. ● An arbitral submission may provide for the appointment of an umpire. — Also termed (in Scots law) oversman.

chair. Parliamentary law. 1. A deliberative assembly's presiding officer <the chair calls for order>. See PRESIDE. 2. The presiding officer's seat <take the chair>. 3. The officer who heads an organization <the treasurer reports directly to the chair>. — Also termed chairman (of a male chair, in senses 1 & 3); chairwoman (of a female chair, in senses 1 & 3); chairperson (in senses 1 & 3); moderator (in sense 1); president (in senses 1 & 3); presiding officer (in sense 1); speaker (in sense 1). — chair, vb.

make, vb. (bef. 12c) 1. To cause (something) to exist <to make a record>. 2. To enact (something) <to make law>. 3. To acquire (something) <to make money on execution>. 4. To legally perform, as by executing, signing, or delivering (a document) <to make a contract>.

decision, n. (16c) 1. A judicial or agency determination after consideration of the facts and the law; esp., a ruling, order, or judgment pronounced by a court when considering or disposing of a case. See JUDGMENT (1); OPINION (1). — decisional, adj. 2. Parliamentary law. VOTE (4). 3. Parliamentary law. The chair's ruling on a point of order. See appeal from the decision of the chair under APPEAL.

arbitrator, n. (15c) A neutral person who resolves disputes between parties, esp. by means of formal arbitration. — Also termed impartial chair; (in Latin) compromissarius. Cf. MEDIATOR; ARBITER.

arbitration, n. (15c) A method of dispute resolution involving one or more neutral third parties who are usu. agreed to by the disputing parties and whose decision is binding. — Also termed (redundantly) binding arbitration.

order, n. (16c) 1. A command, direction, or instruction. See MANDATE (1). 2. A written direction or command delivered by a court or judge. ● The word generally embraces final decrees as well as interlocutory directions or commands. — Also termed court order; judicial order.

award, n. (14c) A final judgment or decision, esp. one by an arbitrator or by a jury assessing damages. — Also termed arbitrament.

party. (13c) 1. One who takes part in a transaction <a party to the contract>. 2. One by or against whom a lawsuit is brought <a party to the lawsuit>. ● For purposes of res judicata, a party to a lawsuit is a person who has been named as a party and has a right to control the lawsuit either personally, or, if not fully competent, through someone appointed to protect the person's interests.

serve, vb. (15c) 1. To make legal delivery of (a notice or process) <a copy of the pleading was served on all interested parties>. 2. To present (a person) with a notice or process as required by law <the defendant was served with process>.

default (di-fawlt also dee-fawlt), n. (13c) The omission or failure to perform a legal or contractual duty; esp., the failure to pay a debt when due

arbiter (ahr-bə-tər). (14c) One with the power to decide disputes, such as a judge <the Supreme Court is the final arbiter of legal disputes in the United States>. Cf. ARBITRATOR.

apply, vb. (14c) 1. To make a formal request or motion <apply for a loan> <apply for injunctive relief>. 2. To employ for a limited purpose <apply payments to a reduction in interest>. 3. To put to use with a particular subject matter <apply the law to the facts> <apply the law only to transactions in interstate commerce>.

set aside, vb. (18c) (Of a court) to annul or vacate (a judgment, order, etc.) <the judge refused to set aside the default judgment>.

set-aside, n. (1943) Something (such as a percentage of funds) that is reserved or put aside for a specific purpose.

agreement. (15c) 1. A mutual understanding between two or more persons about their relative rights and duties regarding past or future performances; a manifestation of mutual assent by two or more persons. [Cases: Contracts 1.] 2. The parties' actual bargain as found in their language or by implication from other circumstances, including course of dealing, usage of trade, and course of performance.

appointment, n. (15c) 1. The designation of a person, such as a nonelected public official, for a job or duty; esp., the naming of someone to a nonelected public office <Article II of the U.S. Constitution grants the President the power of appointment for principal federal officials, subject to senatorial consent>. 2. An office occupied by someone who has been appointed <a high appointment in the federal government>. 3. Parliamentary law. The naming of an officer, the members of a committee, or the holder of any other title in an organization by means other than the organization's election. 4. The act of disposing of property, in exercise of a power granted for that purpose <the tenant's appointment of lands>. See POWER OF APPOINTMENT. [Cases: Powers 1.] — appoint, vb. — appointer (for senses 1-3), n. — appointor (for sense 4), n.

consideration, n. (16c) 1. Something (such as an act, a forbearance, or a return promise) bargained for and received by a promisor from a promisee; that which motivates a person to do something, esp. to engage in a legal act. ● Consideration, or a substitute such as promissory estoppel, is necessary for an agreement to be enforceable. 2. Loosely, valuable consideration; consideration that is adequate to support the bargained-for exchange between the parties <his agreement to pay the offering price was good consideration for the sale>. 2. Parliamentary law. The process by which a deliberative assembly disposes of a motion; DELIBERATION. ● Consideration begins with a member making a motion and the chair stating the question on the motion; it ends with the chair putting the question on the motion (or on a subsidiary motion that disposes of the first motion). It also includes debate and may also include (among other things) amendment and referral to a committee.

resignation, n. (14c) 1. The act or an instance of surrendering or relinquishing an office, right, or claim. [Cases: Officers and Public Employees 62.] 2. A formal notification of relinquishing an office or position. 3. Hist. The surrender to the lord of the vassal's interest in land. — resign, vb.

entitlement. (19c) An absolute right to a (usu. monetary) benefit, such as social security, granted immediately upon meeting a legal requirement. [Cases: Social Security and Public Welfare 4.10.]

fee. (14c) 1. A charge for labor or services, esp. professional services. 2. A heritable interest in land; esp., a fee simple absolute. — Also termed fee estate; feod; feodum; feud; feudum; fief.

expense, n. (14c) An expenditure of money, time, labor, or resources to accomplish a result; esp., a business expenditure chargeable against revenue for a specific period. Cf. COST (1). — expense, vb.

liability, n. (18c) 1. The quality or state of being legally obligated or accountable; legal responsibility to another or to society, enforceable by civil remedy or criminal punishment <liability for injuries caused by negligence>. — Also termed legal liability; subjection. Cf. FAULT. 2. (often pl.) A financial or pecuniary obligation; DEBT <tax liability> <assets and liabilities>.