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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 the articles of association of the company or the laws of the state of incorporation. e.g. "The School Board engaged…

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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 makes with another in return for something done or given or promised. Put another way, it signifies that which each…

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Scienter denotes the mental state which is an element of fraud, or the knowledge of the nature of one’s fraudulent acts or omissions. It is also used as an adverb to mean, with knowledge, knowingly. "Courts sometimes insist on a…

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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 at first sight: on first appearance absent other information or evidence. Self-evident; evident without proof or reasoning; obvious. Sufficient to…

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A quorum signifies the minimum number of members of any body required to be present in order to transact business, e.g. at a board meeting or general meeting. Usually, a quorum constitutes a majority of the members of a body.…

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To veto means to forbid, prohibit or stop a vote from passing with authority. “Since the decision must be unanimous, no one has veto power.”

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A lacuna is an empty space in the law with no regulations applicable or an absent part in a law or another written document such as a contract. In other words, it denotes an instance when there is no controlling…

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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 decided. The doctrine bars re-litigation of matters that have already been determined in adjudication. Broadly, res judicata bars the reconsideration…

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Arguendo is a Latin term meaning “for the sake of argument” that is commonly used in appeals briefs and other litigation documents. The term indicates that the lawyer’s written or oral statement is made as a matter of argument or…

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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 buyer alone is responsible for assessing the quality of a purchase before buying. This axiom or principle is sometimes understood…

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