The mitigation of damages doctrine, also known as the doctrine of avoidable consequences, prevents an injured party from recovering damages that could have been avoided through reasonable efforts.
The duty to mitigate damages is most...
business law
modification
In a legal context, the term "modification" generally refers to the act of changing, altering, or amending something that is already established, such as a contract, statute, court order, or legal document. It involves making revisions or...
money laundering
Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money. Given the many ways money laundering can be achieved, the regulation of money laundering by the...
monopoly
A monopoly is when a single company or entity creates an unreasonable restraint of competition in a market. The term “monopoly” is often used to describe instances where there is a single seller of a good in a market. In a legal context, the...
moratorium
A moratorium is the authorization to either postpone the repayment of debts or performance of obligations or to suspend some activity or law for a period of time, often indefinite in duration, until the purpose for which the moratorium was granted is...
mortgage
A mortgage involves the transfer of an interest in land as security for a loan or other obligation. It is the most common method of financing real estate transactions. The mortgagor is the party transferring the interest in land. The...
mortuary
A mortuary is an entity responsible for handling the deceased. Mortuary law is the area of law that regulates the handling of bodies after death. Mortuary law includes all of the state and local requirements for who can transport bodies,...
most favored nation
Most favored nation refers to a status conferred by a clause in which a country promises that it will treat another country as well as it treats any other country that receives preferential treatment. Most favored nation clauses are...
mutual
In a legal context, the term "mutual" generally refers to an agreement or a condition that is reciprocal or agreed upon by all parties. It implies that all parties involved have consented to the same terms, obligations, or conditions, and...
mutual assent
Mutual assent refers to an agreement by all parties to a contract. Mutual assent is an essential element in the formation of a valid contract. Under modern contract law, mutual assent must be proven objectively. Thus, courts will look to...