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Definitions

Business Law

Anything related to the legal aspect of business, including the suing of companies, laws that companies must follow, or the breaking of laws by businesses should be asked here.

Asked in Business Law, 2008 Economic Crisis

What is a positive externality?

an economic side effect that generates unexpected benefits
Asked in Labor and Employment Law, Business Law

Why do labor laws exist?

Labor laws, that is, laws that govern the relationship, and enforce standards of conduct, between employers and the employed, exist because frictionless economic efficiency can often operate to the disadvantage of the employed, even to the point of the violation of the basic civil rights of the employed. ----- Left to themselves some businesses and even whole industries will abuse the employees with low pay, unsafe working conditions, sometines virtual slavery, unfair employment contracts and other abuses. One needs only look at histrory; garment...
Asked in Business Plans, Business Law, Companies

Can a company director sue his own company?

yes, as the company is a legal entity, and it can be sued by the director if the shareholders of a company use the company as the alter ego of the shareholders. ...
Asked in Business Law

What is gannet chart?

If you mean Gantt chart; it is a method of graphically charting the critical path of a project. As an example you must first lay the foundation of a house before you can frame but once you are done framing you can both roof and wire at the same time. ...
Asked in Lincoln LS, Business Law, Linux, Incorporation

What does LS after signature mean?

L.S. is the abbreviation for the Latinism "locus sigilli", meaning the place reserved for the signatory's unique seal. Most U.S. states have abolished the need for a seal to authenticate the signature. Older documents can be found with a wax wafer melted onto the L.S., impressed with a corporate, government, or private insignia (the seal), perhaps with color-coded ribbons or strings also embedded in the wax under the seal. ...
Asked in Business Law, Legal Definitions

What is mean by Litigation Coding Process?

The process of low cost litigation coding is an important part of legal affairs and saved properly it proves to be of immense importance for future research. The process calls for quality control, analysis and proper follow up in order to maintain the perfection that is required to control the process. The litigation coding mainly involves legal document coding. It is the process of establishing the objective and subjective coding of a record or document. It is done by legal document coders...
Asked in Civil Lawsuits, Business Law, State Laws

Do both parties sign a prenup?

Usually, yes. But if you are good enough, you can convince her/him to sign it then you don't need to sign it. Another view: While in theory, the foregoing may be true, it may make later enforceability harder. That is, the fact that you did not sign it but your spouse did may make it appear that you exerted undue influence upon him/her. ...
Asked in Business Law, Civil Process

How do you rectify a mistake in stamp paper?

When the person has done something hideous and yet was threatening the party towards which the crime has been committed then you rectify it in stamp paper. ...
Asked in Business & Finance, Business Law, Business and Industry

What is the Tabberone disclaimer?

The Tabberone Disclaimer is a carefully crafted disclaimer to be included when selling hand-crafted items. It is recommended that the disclaimer be in bold type, used with a colorful border, and back-lit with a color that will attract attention. It should be prominently displayed early in the listing in the same size type as the lsiting. As one lawyer said, there is a difference between "red light" and "light red". Here is an example (without the border or color): The is an...
Asked in Business Law

There can be a stranger to consideration but there cannot be a stranger to contract?

Stranger to consideration can sue but not stranger to contract. According to sec 2(d) of Indian contract act,1872. Consideration definition says that "when at the desire of the promisor, promisee or any other person- has done or abstained from doing ,does or abstains from doing, promises to do or abstains from doing something". According to this definition law only considers that in a contract consideration should be there,and it is immaterial who has supplied consideration. that is ,a stranger can also give consideration. so when...
Asked in Business Law

Can a trust be a partner in a partnership?

yep trust is the main thing in your relationship
Asked in Law & Legal Issues, Business Law, Contract Law

Can you sue a company for promising i have proof of this promise to deliver a product to you at a certain time and not delivering the product when promised?

You may sue for breach of this promise only if the failure to make the delivery on time is a material breach of the contract and if you suffered monetary damages as a result of the breach. The promise to deliver at a specific time is not automatically a material provision of the contract per se although it can be made so within the contract itself. Never the less, even if it is a material provision and if it has been...
Asked in Nissan Sentra, Workers Compensation, Business Law

Do you need workmans comp as sole proprietor in ma?

By law, it's optional for sole proprietors. Reality can be different though. In the construction trades most general contractors will require any subs who are sole proprietors to have workmans comp. This is what their insurance companies require. If a sub doesn't have workmans comp the insurance company adds their wages to the gc's bill. ...
Asked in Business Law, Incorporation

When a limited partnership is formed?

A limited partnership is formed upon the execution of an agreement between a limited partner (usually a financial contributor) and a general partner (responsible for the day-to-day operations of the business). The limited partner is only liable up to the amount of the initial investment whereas the general partner has unlimited liability. It is advisable to have an attorney draw up the agreement to ensure that it is in compliance with the laws of the jurisdiction in which the partners will conduct business. ...
Asked in Internet Marketing, Business Law, Definitions, Geometry

Master resale rights definition?

If you own Master Resell Rights to a product, you can resell it, bundle it or include it in your own membership site. You may even be allowed to pass on the resell rights to others, meaning that when you sell that product to someone, they can turn around and sell it to someone else. Master resell rights can vary a little depending on the product creator. Here is sample master resell rights description from a well known product1: Master Resale Rights License...
Asked in Business Law

What are tesco's smart objectives?

sorry mate i dont know
Asked in Law & Legal Issues, Business Law

What individuals lack contractual capacity?

There are seven individuals who lack capacity, or have limited capacity. Minors - generally, contracts can be terminated at the minor's option. Exceptions include: if the minor has affirmed the contract; if it has been more than one year after reaching the age of consent; if the minor has received some benefit such as health care, employment, food, education, or legal advice. Mental incapacity - which can be either a temporary or permanent incapacity. If the incapacity is temporary, legal proceedings must be started...
Asked in Business Law, Definitions

What does IN-Kind mean?

To receive benefits in non-cash form
Asked in Business Law, Federal Laws, Law School

What does LTD stand for in law firms?

The abbreviation 'Ltd' stands for 'limited'. This signifies that a firm has limited liability; that is, the owners (shareholders) are not personally liable for any more than their investment should the firm fail. ...
Asked in Business Law

If the transfer of possession of goods is not voluntary then there is a delivery?

The wording of the question needs clarification. As I read it, the "transfer of possession of goods is not voluntary" means goods were involuntarily transferred. This means they were stolen or possibly seized with legal authority. For example, if a car is repossessed then it is involuntrily transferred but with legal authority. ...
Asked in Business Law, Companies, Political Theory

Is an ex officio committee member part of quorum?

Yes, they are. They are on the committee by way of their office, but they still have the same rights as other members, and still count for purposes of a quorom. ...
Asked in Business & Finance, Business Law

What is analytical banking?

The examination of ratios, trends, and changes in balances from one period to the next to obtain a broad understanding of the financial position and results of operations and to identify any items requiring further investigation... Analytical Banking solutions provide a faster and more efficient, reliable and transparent single integrated platform of Financial Accounting, Management Accounting, Risk Management and Regulatory Reporting for Banks. . ...