Bailee: Person who accepts property through a contract of bailment, from the bailor, and who has certain duties of care while the property remains in his possession.

Bailment: Temporary transfer of goods by a bailor to a bailee (for example, for storage), after which the property is either returned to the bailor or disposed of according to the contract of bailment.

Barrister: Specialist in litigation and advocacy who receives instructions from a solicitor. Barristers may not normally deal directly with members of the public.

Beneficiary: Person who receives a gift under a will, or for whose benefit property is held by an executor or trustee.

Bill of exchange: Written, signed instrument requiring the person to whom it is addressed to pay on demand (or on a future date) a fixed amount of money either to the person identified as payee or to anyone presenting the bill of exchange. A cheque is a form of bill of exchange.

Bill of lading: Document used in foreign trade, acknowledging that a company has received goods for transportation. The Bill serves as title to the goods until they have reached their destination.

Breach of contract: Failure or refusal to fulfil a term of a contract. The injured party may bring an action for damages, for enforcement or for cancellation of the agreement.

Burden of proof: A rule of evidence that requires a party to a court action to prove something, otherwise the contrary will be assumed by the court. For example, in criminal trials, the prosecution has the burden of proving the accused guilty beyond a reasonable doubt (because of the presumption of innocence).