Legal Terminology and Law Definition of Business Law

ab extra
Literal translation: from outside Definition and use: concerning a case, a person may have received some funding from a 3rd party. This funding may have been considered ab extra. … Full Definition »
Law topic: Corporate Finance & Taxation << Legal issue: Business Law
ab initio
Literal translation: from the beginning … Full Definition »
Law topic: Advertising << Legal issue: Business Law
alter ego
under this legal doctrine a corporation uses its corporate status to shield someone’s personal business deals. Normally, a corporation is treated as an entity separate from its creators and the shareholders are not personally liable for corporate obligations. But in some rare instances, a court will “pierce the corporate veil” and hold a shareholder liable … Full Definition »
Law topic: Commercial << Legal issue: Business Law
audit
for business purposes, a financial examination of a company, government agency, nonprofit organization, or enterprise. It is performed by financial professionals (accountants, auditors) that review financial systems and financial records of a company or a business to give an opinion whether the company’s financial statements fairly represent the … Full Definition »
Law topic: Corporate Finance & Taxation << Legal issue: Business Law
auditor
is an accountant, usually CPA, that conducts examination of the company’s financial records to give an opinion on whether the company’s financial statements fairly represent the organization's performance. Auditors might be either internal or external. … Full Definition »
Law topic: Corporate Finance & Taxation << Legal issue: Business Law
bank
"Bank" includes commercial banks, savings banks, trust companies, and any person or association of persons, whether incorporated or not, carrying on the business of banking. U.S. Securities and Exchange Commission is the main bank regulatory agency in the USA, together with the Federal Reserve System and the Federal Deposit Insurance Corporation. … Full Definition »
Law topic: Banking Law << Legal issue: Business Law
charitable organization
"Charitable organization" Is a business entity organized and operated exclusively for religious, charitable, scientific, educational, medical, or literary purposes, testing for public safety, prevention of cruelty to children or animals, family counseling, or promotion of amateur sports competition. The main purpose of a charitable organization is to raise … Full Definition »
Law topic: Business Formation << Legal issue: Business Law
consignee
1) The individual or organization to which the goods are shipped. Freight is shipped by the consignor to the consignee. 2) Party who is to receive the good; usually the buyer … Full Definition »
Law topic: Corporate Finance & Taxation << Legal issue: Business Law
consignment
Consignment is the act of consigning, which is placing a person or thing in the hand of another, but retaining ownership until the goods are sold or person is transferred. This may be done for shipping, transfer of prisoners, or for sale in a store (i.e. a consignment shop) … Full Definition »
Law topic: Corporate Finance & Taxation << Legal issue: Business Law
consortium
An association or combination of businesses, financial institutions, or investors, for the purpose of engaging in a joint venture. … Full Definition »
Law topic: Corporate Finance & Taxation << Legal issue: Business Law
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independent contractor
n. a person or business which performs services for another person or entity under a contract between them, for a compensation. An independent contractor is distinguished from an employee, who works regularly for an employer. The exact nature of the independent contractor's relationship with the party hiring him/her/it has become vital since an independent … Full Definition »
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