08 Law DICTIONARY
1. Contract
Section titled “1. Contract”A contract is a legally binding agreement between two or more parties. It defines obligations, rights, and terms.
Example: Signing a service agreement with a client.
2. Liability
Section titled “2. Liability”Liability means legal responsibility for actions or harm. A person or company may owe compensation if found liable.
Example: A restaurant pays for a customer injured by bad flooring.
3. Negligence
Section titled “3. Negligence”Negligence occurs when someone fails to take proper care, causing harm. It is judged by what a reasonable person would do.
Example: A driver texting and causing an accident.
4. Jurisdiction
Section titled “4. Jurisdiction”Jurisdiction defines which court or authority has the power to decide a case. It depends on location or subject matter.
Example: A dispute in Mumbai is handled by Mumbai courts.
5. Arbitration
Section titled “5. Arbitration”Arbitration is a private dispute resolution method outside court. An arbitrator listens and gives a binding decision.
Example: Two companies resolve a contract issue through arbitration.
6. Intellectual Property
Section titled “6. Intellectual Property”Intellectual property protects creations like software, designs, and inventions. It prevents unauthorized use.
Example: A startup patents its new algorithm.
7. Copyright
Section titled “7. Copyright”Copyright protects original creative work like text, music, and code. It gives the creator exclusive rights.
Example: Copying a song without permission violates copyright.
8. Trademark
Section titled “8. Trademark”A trademark protects logos, brand names, and symbols. It helps customers identify the source of a product.
Example: Using a logo similar to a popular brand creates legal risk.
9. Privacy Law
Section titled “9. Privacy Law”Privacy laws regulate how personal data is collected, used, and stored. Companies must protect user information.
Example: A website informs users before collecting cookies.
10. Fraud
Section titled “10. Fraud”Fraud involves intentional deception for financial or personal gain. It is a serious criminal act.
Example: Someone creates fake invoices to steal money.
11. Settlement
Section titled “11. Settlement”A settlement resolves a legal dispute without going to trial. Both sides agree on terms.
Example: A company compensates a customer to avoid a lawsuit.
12. Evidence
Section titled “12. Evidence”Evidence includes documents, witnesses, and digital data used to prove facts in a case. Strong evidence shapes decisions.
Example: CCTV footage proving car damage.
13. Tort
Section titled “13. Tort”A tort is a civil wrong resulting in injury or loss. The injured party can claim compensation.
Example: A person slips due to unmarked wet floors.
14. Breach of Contract
Section titled “14. Breach of Contract”A breach happens when someone does not follow the agreed contract terms. The affected party can seek damages.
Example: A vendor fails to deliver goods on time.
15. Clause
Section titled “15. Clause”A clause is a specific section within a contract. Each clause defines rules or conditions.
Example: A clause specifying payment schedule.
16. Due Diligence
Section titled “16. Due Diligence”Due diligence is checking facts before entering agreements. It reduces risk.
Example: Reviewing financial statements before buying a company.
17. Compliance
Section titled “17. Compliance”Compliance means following laws, rules, and industry standards. Companies must maintain compliance to avoid penalties.
Example: Ensuring servers meet data protection standards.
18. Indemnity
Section titled “18. Indemnity”Indemnity is protection against financial loss. One party agrees to cover damages faced by another.
Example: A vendor indemnifies a company against mistakes in supplied data.
19. Statute
Section titled “19. Statute”A statute is a law passed by the government. It provides rules citizens must follow.
Example: A traffic law that sets speed limits.
20. Precedent
Section titled “20. Precedent”A precedent is a legal decision used as a reference in future cases. Courts rely on earlier judgments.
Example: A past ruling influences a new technology dispute.
21. Litigation
Section titled “21. Litigation”Litigation is the process of taking a dispute to court. It can be long and expensive.
Example: A company sues a contractor over defective work.
22. Terms and Conditions
Section titled “22. Terms and Conditions”These are rules users must accept before using a service. They explain rights and limitations.
Example: Clicking agree before using a mobile app.
23. Cease and Desist
Section titled “23. Cease and Desist”A cease and desist letter demands someone stop illegal or harmful actions. It prevents escalation.
Example: A company sends a notice to stop using copied assets.
24. Warranty
Section titled “24. Warranty”A warranty guarantees the quality or performance of a product. It allows repair or replacement if issues arise.
Example: A laptop has a one year warranty.
25. Non Disclosure Agreement (NDA)
Section titled “25. Non Disclosure Agreement (NDA)”An NDA prevents sharing confidential information. It protects sensitive data.
Example: Engineers sign NDAs before joining a project.