Tag: Legal Terms

A B C D E F G H I J K L M N O P R S T U

Adverse possession

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Adverse possession: Possession of land, without legal title, for long enough – normally 12 years – to be recognized as the legal owner (“squatter”s rights”).


Affidavit

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Affidavit: Sworn written statement signed by a deponent, who swears that its contents are true to the best of his knowledge and belief. It must be witnessed by a practising solicitor or commissioner for oaths.


Agent

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Agent: Person with power to contract on behalf of others, binding them as if they were signing the contract themselves. The person represented by the agent is called the principal.


Alternative dispute resolution

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Alternative dispute resolution: Method by which conflicts and disputes are resolved privately, other than through litigation, usually by mediation or arbitration. ADR involves the appointment of a third-party to preside over a hearing between the two sides. The advantages of ADR are privacy and speed. The disadvantage is that ADR may involve compromise of legal rights.