Liberation clause – this legal term has got an application in the Law of Contracts in some legal systems. In practice, when parties negotiate contracts, they agree that some activities could be dangerous for the assignee. So the parties conclude…
Memorandum in wishes – this legal term is used in the Wills and Probate sphere. It expresses a wish or a desire rather than a clear command. It is often implemented in trusts or wills. These wishes detail how the…
Grace – this term details an official government decision that allows a person who has been convicted of a crime, to be released and absolved of that conviction. As if the person has never been convicted. Namely to be allowed…
Letter of engagement – This legal term finds application in the sphere of Banking Law. It refers to an official statement, issued by a bank towards the borrower and any interested parties. Where the bank states in the document that…
Joint ownership – This legal term finds application in the sphere of Real Estate Law in many legal systems. There it details a situation which appears when two or more individuals are equal co-owners of a real estate. For any dealings…
Insolvency claim – the insolvency claim is a method for bringing universal forced execution on the assets of the debtor. The goal is to satisfy the creditors of the debtor. Creditor lodges insolvency claim in a situation when the debtor…
Blasphemy – this legal term finds application in the area of Canon Law, where it details the act of desecration, pollution. In other words – treating or using something that is sacred with irreverence. For example, within the sphere of…
Bill of sale – in the Commercial Law the bill of sale represents a formal sale contract, which details the main details of a sale. These include its subject, the sale price, the figures of the sale and the buyer,…
Beneficiary statement – In practice, this legal term finds application within the area of Financial Law. There it details a statement or certificate, issued by the lender of money (usually a bank institution). Where they officially detail and confirm the…
Basic pay rates – the Labor Law in every country establishes a minimum rate of pay for employment, in order to protect the rights of labor workers. These minimum figures are called “basic pay rates”. They could be calculated either…