COMMERCE

assume

To assume means to undertake. Generally, in legal contexts, to assume means to take over a certain duty or responsibility. For example, Alice may assume Bob’s liability for a debt (Alice may take over Bob’s debt).

In...

assumption

An assumption is an assertion or statement that is taken as true or supposed as a fact without proof or substantiating evidence. An assumption may also be the act of taking over (another individual or entity’s) duty or responsibility.

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assured

Assured is used to refer to a person who is protected by insurance coverage against any loss or damage mentioned in the insurance policy purchased form an insurance company or an underwriter. In the context of insurance, the terms “insured” and “...

asylum

Asylum is a kind of protection granted by a foreign country to individuals, especially those who face persecution in their home countries because of their race, religion, nationality, membership in a particular social group, or political...

at-will employment

At-will employment is an employment arrangement in which the employee may quit at any time, and the employer may fire the employee for any reason and at any point, so long as the dismissal isn’t for an unlawful reason. For example, an...

attached

Attached property is property that has been seized pursuant to a court order, either as a provisional pre-judgment remedy or for the enforcement of a final judgment. Property may be attached only after the commencement of a lawsuit. In a pre-...

attachment

An attachment is a court order seizing specific property. Attachment is used both as a pre-trial provisional remedy and to enforce a final judgment.

Sometimes, courts attach a defendant's property as a provisional remedy to...

attestator

An attestator is a person who attests or verifies the authenticity of a document or signature by adding their own signature or stamp. Accordingly, such a document becomes attested, which means it has been acknowledged as an authentic document...

attorney-in-fact

An attorney in fact is an agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney. Therefore an attorney in fact, which is not necessarily a...

audit

An audit (noun) is a formal examination and verification of an individual’s or organization’s records and accounts, finances, or compliance with a set of standards.

To audit (verb) is the act of conducting the formal...

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