The world of legal terminology can be difficult to wade through sometimes, so Adams Solicitors have provided you with a quick and easy glossary of some of the more common terms. If there are any words you’d like to be added, please send your suggestions to [email protected].
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Ancillary Relief
The global term used to describe the financial claims the parties have against each other. |
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| Beneficiary |
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| A person or legal entity entitled to a beneficial interest, whether under a trust, a will or a contract. A beneficial interest is a right to the value of something, even if someone else has possession and/or is the registered owner. |
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| Conveyance |
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| A broad term for any written document which transfers (conveys) real estate interests from one party to another. A person who is qualified to conduct these transactions is called a conveyancer. |
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Contact
Visitation by a parent who does not have residence. |
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Contact Order
A court order setting out when the parent without residence will see a child. |
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Court order
An order issued by a court of law requiring a person to do something or to refrain from doing something. |
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Custody
The right of guardianship of a minor. |
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| Covenant |
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| A covenant is an agreement by a party to engage in or refrain from a specified action.[Click here for a full definition] |
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| Company |
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| A company is a legal entity having its own privileges and liabilities distinct from those of its members. It is run / managed by the directors, who are responsible to the company’s shareholders.[Click here for a full definition] |
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| Damages |
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| When you get money compensation from a court ruling, it is called an award of damages. For example, if you are injured in an accident you could receive £3000 in damages if you won. (Amount as example only). |
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| Debenture |
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A debenture is a document that creates a debt or acknowledges it.
[Click here for a full definition] |
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| Deed of variation |
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| A deed of variation is used to vary the terms of a legal document, such a will, lease, or contract. |
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| Designated Premises Supervisor |
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| This is the person managing the licensed premises and supervises the licensable activities. |
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| Distress (in residential property) |
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| When personal property is taken or surrendered involuntarily as payment for a breach or non-performance of a legal obligation. A common example would be when a landlord exercises his right of forfeiture against a tenant who doesn’t pay rent, by going into the property and taking goods there to sell. There is no compensation for the person whose property is taken. There are strict rules surrounding forfeiture, particularly in where the tenant is an individual. |
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Divorce
To formally end a marriage. |
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Divorce petition
The application to the court to end a marriage . |
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| Due diligence |
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| Due diligence is a term used for the period of investigation of a business or person prior to signing a contract. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. [Click here for a full definition] |
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| Director |
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| A director is an officer of a company – responsible for overseeing the activities of that company.[Click here for a full definition] |
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| Force majeure |
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| A contractual clause meaning parties no longer have to fulfill their obligations under a contract where an event arises that is both unforeseeable and beyond the control of the parties - such as war or natural disaster (often referred to as an ‘act of God’). |
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| Frustration |
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| Frustration excuses non-performance of a contract where an event occurs that renders subsequent performance of contractual obligations impossible or illegal. For example, a contract to clean a house would be frustrated if the house were destroyed in a fire. |
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| Goodwill |
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| Goodwill is the value of something (usually a business) over and above its net assets.[Click here for a full definition] |
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| Heads of Terms |
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Heads of Terms are the key terms that are agreed between parties.
[Click here for a full definition] |
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Injunction
A court order which either restrains a person from a course of action or behaviour, or which requires a person to follow another course of action.
Contact/residence orders. |
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| Jurisdiction |
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| The jurisdiction is the area or country responsible for handling the legality of any transaction or case. |
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Judicial Separation
Legal separation of a married couple. |
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| Life interest |
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| When somebody has an interest (usually in a property) but only as long as they live. They cannot be ejected by another, but they cannot leave it someone in their will. For example a house can be given to Mary for life, and for Bob thereafter. Mary could then live in the house, and Bob could live there/sell it when Mary dies.
In this case Bob would be known as the remainder-man. |
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| Lease |
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A lease is a contract calling for the lessee (user) to pay the lessor (owner) for use of an asset. Most commonly a lease is for the use of a property in which case the user is more commonly known as the tenant, and the owner is the landlord.
[Click here for a full definition] |
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| Licence |
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It is simply the permission granted to one party, by another party.
[Click here for a full definition] |
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| Licensable Activity |
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| These are activities that require a licence (i.e. permission) to provide to the public. Common examples include the supply of alcohol, live music, recorded music, films, plays, indoor sporting events, boxing, wrestling, dance performances, late night refreshment and many other forms of entertainment. They are sometimes known as “regulated entertainment”. |
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| Licensed Premises |
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| Premises in which the licensable activity is taking place. |
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| Licensing |
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| Process of applying for a licence (permission) to provide licensable activities. You need a licence for many types of activities, the most common including serving alcohol, live music, dancing and some indoor sporting events. |
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| Licensing Act 2003 |
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| This is the key legislation (law) governing all licensable activity. |
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Legal aid (scheme)
State funded assistance, for those on low incomes, to cover legal fees. |
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| Market value |
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| The price that would be received in an open market by negotiation. Market value of real estate or other high-value assets is often established by a professional appraiser. |
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Maintenance
Financial support for a spouse or child. |
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Mediation
A process for resolving disagreements in which an impartial third party (the mediator) helps people in dispute to find a mutually acceptable resolution. If mediation fails court proceedings can be initiated or re-activated. |
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Nullity Petition
An application to the Court for a declaration that a marriage be declared 'void' or be annulled i.e. declared never to have existed or to have subsisted until the Court dissolved it. |
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| Option Agreement |
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| An agreement that entitles one party (the option holder), the option to exercise a right at a later date.
[Click here for a full definition] |
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Out-of-court settlement
A voluntarily agreement by the claimant and defendant to settle their civil case which is reached without judicial intervention, supervision, or approval. |
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| Pre-emption rights |
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| The right of a company’s shareholders to be offered newly-issued shares before non-shareholders. |
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Parental Responsibility
The rights, duties and obligations that a parent has towards their child and their child's property. |
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| Partnership Agreement |
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A written agreement between people who are partners in business together.
[Click here for a full definition] |
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| Personal Licence |
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| This is required by a person running a business at a place where a licensable activity is being carried out. |
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| Premises Licence |
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| This is required to operate a business at a place where a licensable activity is being carried out. |
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| Quorum |
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| The minimum required number of people needed at a board/general meeting for motions carried to be valid. |
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| Quiet enjoyment |
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A covenant given by the landlord that promises that the tenant of the property will be able to possess the property in peace and without disturbance.
[Click here for a full definition] |
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| Remainder-man |
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| The person who has an interest (usually in a property) but only after another person’s interest(s) have expired. They cannot infringe on the other people’s interest. For example a house can be given to Mary for life, and for Bob on her death. Mary could live in the house, but Bob could live there/sell it when Mary dies. In this case Bob would be known as the remainder-man. |
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| RTA (Road traffic accident) |
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An accident involving at least one road vehicle, that leads to an injury claim.
[Click here for a full definition] |
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| Residuary estate |
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| The remaining assets in an estate which have not been allocated to someone in the will. |
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| Rent review |
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| A method that allows a landlord to review rent at specific intervals during the term of a lease. Details of the mechanism are contained within the lease. |
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Residence
Where a child lives. |
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Residence Order
A court order setting out where a child lives and with whom. |
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| Shareholder’s Agreement |
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| A shareholders' agreement is an agreement amongst the shareholder’s of a company that governs how those shareholder’s will run the company, and their relationships with one another. [Click here for a full definition] |
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| Shareholder |
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A shareholder is essentially the owner of a company.
[Click here for a full definition] |
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| Temporary Event Licence |
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| These are required where a permanent premises licence is either not required/desired.
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| Tort |
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| A wrongful or negligent act, or an infringement on a legal right, which gives rise to civil legal liability (known as tortious liability). Common examples of torts include personal injury, libel and professional negligence. |
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| Vicarious liability |
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| Occurs where one party is held responsible for the actions of another. For example, in certain situations an employer may be vicariously liable for the actions of their employees. |
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| Warranty |
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In business and legal transactions, a warranty is an assurance by one party to the other party that certain facts or conditions are true or will happen; the other party is permitted to rely on that assurance and seek some type of remedy if it is not true or followed.
[Click here for a full definition] |
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