Known (secured) creditor – this legal term is used in Litigation procedures where details the figure of a creditor with a registered burden in their name over the assets of the debtor.
Known business losses – within the meaning given by the Commercial Law, these are the losses declared by a local corporate body in their financial report for the last tax year, and published at the Companies House.
Knowing confirmation – this term details the mutual consent, usually stipulated at the end of contracts and detailing that the party has been informed about the risks and alternatives and wishes to sign the contract – i.e. well informed about…
Know-how information – in the sphere of Business Law this term describes the professional skills and abilities; could also mean the secret methodology of producing a good or providing a service.
Knock for knock – usually this term refers to an agreement, concluded between insurance companies to exclude any legal activities, but payment will follow once determinate which insured person is guilty for causing the damage/injury. Such an example is the…
Knock out agreement – within the meaning given by the Contracts & Obligations Law, this is an agreement, concluded among few bidders to act as one during a public auction in order not to argue, and to share among themselves…
Knock off – this term is used in the Criminal Law where describes is an illegal copying of a product sealed with a trade mark issued by the Bulgarian Patent Agency.
Knock down – this is a term in the public auction, where details proclaiming of the highest bid as a winner and respectively determinate who the buyer will be.
Knave – in the sphere of Criminal Law, this legal term details the figure of a frauder; a crook.
Kleptocracy – in the sphere of Criminal Law, this legal term details a situation where a government is not able to react about the huge corruption inside.