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Ultra vires

For example: Ultra vires (beyond powers) is applied especially to acts of directors exceeding the scope of powers granted by...

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Quid pro quo

Quid pro quo literally means “something for something” and is an equal exchange or substitution that a person or firm...

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Scienter

Scienter denotes the mental state which is an element of fraud, or the knowledge of the nature of one’s fraudulent...

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Prima facie

Prima facie means before closer inspection, at first sight, or on the face of it. True, valid, authentic, or adequate...

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Quorum

A quorum signifies the minimum number of members of any body required to be present in order to transact business,...

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Veto

To veto means to forbid, prohibit or stop a vote from passing with authority. “Since the decision must be unanimous,...

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Lacuna

A lacuna is an empty space in the law with no regulations applicable or an absent part in a law...

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Res judicata

Res judicata denotes an important legal doctrine that generally means that once a matter is judicially decided, it is finally...

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Arguendo

Arguendo is a Latin term meaning “for the sake of argument” that is commonly used in appeals briefs and other...

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Caveat emptor

Caveat emptor is a Latin phrase meaning “let the buyer beware.” The phrase stands for the commercial principle that the...

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