| Administrator |
A person appointed by a court to manage the estate of a deceased person. |
| Advance |
Prepayment that counts against monies that may be payable at some time in the future. |
| Affirm |
Make a solemn declaration in place of an oath. |
| Aforesaid |
Previously said. |
| Amend |
Alteration or change. |
| Assign |
Transfer formally to another. Example: Property. |
| Assignee |
Person to whom a right or property is assigned. |
| Assignor |
Person giving or transferring property to another. |
| Beneficiary |
A person or party who benefits from a Will. |
| Breach |
Non-observation of a law or a contract. |
| Buyer |
A consumer or purchaser. |
| Cause of Action |
Facts which entitle a person having a right to judicial relief against another. |
| Claims |
Demand as one's due or property. |
| Codicil |
An addition or amendment to an original Will that modifies the Will. |
| Convey |
To transfer the title to another. Example: Property. |
| Covenant |
A solemn agreement or sealed contract. |
| De facto |
In fact. |
| Debt |
An obligation one owes to another. |
| Debtor |
A person owing debts. |
| Deed |
A legal document used for transferring ownership of real property. |
| Defamation |
Libel or a false statement that attacks the reputation of a person in the community. |
| Default |
Failure to act as one should. |
| Disclaimer |
Statement rejecting a legal claim. |
| Estate |
All a person's assets and liabilities. |
| Evidence |
Statement or proofs admissible as testimony in law court. |
| Execute |
To make valid by signing or sealing. |
| Executor |
A person appointed by a testator to administer a will. |
| Force Majeure |
Unforeseeable circumstances excusing a person from the fulfillment of a contract. Example: Strike, earthquake, war or Act of God. |
| Full Name |
A person's entire name including, first, middle and surname. |
| Hearing |
A trial of a case before a court or judge. |
| Heirs |
A person entitled as the legal successor of its former holder. |
| Hold Harmless |
A phrase used in contract law to signify a commitment by one party to make good or repay another party in the even of a specified loss. |
| In Perpetuity |
Forever. |
| Indemnify |
Compensate. To secure a person in respect of harm or loss. |
| Inure |
To take effect. |
| Irrevocable |
Unalterable. |
| Knowingly |
Intentionally. |
| Licensee |
A person holding a license or permission to do something. |
| Licensor |
A person who grants a license. |
| Litigation |
A lawsuit. |
| Negligence |
Culpable carelessness. |
| Omission |
Neglect to perform what the law requires. |
| Pari Passu |
Without preference. |
| Pro Rata |
Proportionately. |
| Rescind |
Abrogate or revoke. |
| Stamp |
Impression of an official mark required to be made on legal documents as evidence of duty paid. |
| Successor |
A person having the right to property of a decedent by will or as a heir. |
| Tenure |
A form of right or title under which property is held. |
| Trial |
Judicial examination and determination of issues between parties by a judge with or without a jury. |
| Trustee |
A person managing property in trust with legal obligation to administer it solely for the purposes specified. |
| Year, Fiscal |
An accounting or financial year. |
