Tag: Legal Terms

Consideration

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Consideration: Consideration has been defined as “some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other”. Under common law, any binding contract must have some consideration, no matter how small. The courts will not normally inquire into the sufficiency of the consideration a “peppercorn rent” would be sufficient.


Consign

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Consign: To leave property in the custody of another. An item can be consigned to a transport company, for example, to move it from one place to another. The consignee is the person who receives the property and the consignor is the person who ships the property to the consignee.


Construction

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Construction: Legal process of interpreting a phrase or document. If a term is unclear or ambiguous, lawyers and judges must try and interpret (or construct) its probable intention and purpose. This may be done by referring to other parts of the document, by reference to the known intentions of those who drew up the document, or, in the case of statutes, by referring to an interpretation law which gives guidelines for construction.


Constructive trust

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Constructive trust: Trust imposed by a court in certain circumstances, regardless of the intention of the parties involved (such as where a trustee has improperly profited from his position).


Contract

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Contract: Agreement between two or more persons which obliges each party to do (or refrain from doing) a certain thing. A valid contract requires an offer, acceptance of that offer and consideration.


Contract law

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Contract law: Contract law is the basis of all commercial dealings. The terms of a contract may be express or implied. Express provisions may be varied by statute. Unfair contract terms are now excluded by legislation, and, in areas such as employment and the sale of goods, the law imports a wide range of implied terms into new and existing contracts.


Contributory negligence

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Contributory negligenceNegligence which is not the primary cause of a tort, but which combined with the act or omission of another person to cause the damage. In the case of a car crash, for example, an injured driver who was not wearing a seat belt may be found contributorily negligent for his injuries.


Conversion

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Conversion: Legal proceeding for damages by a property owner against a defendant who found property and converted it to his own use – that is, retained it or otherwise interfered with it.