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Bodily Injury Liability Coverage

A type of auto insurance coverage wherein the insurer will cover the cost of bodily harm caused by the policyholder deemed at fault in an accident.

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Blue Book

A shortened name for the “Kelley Blue Book,” which publishes the values of used vehicles.

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Benchmark Rate

A government-set auto insurance rate used in Canada. An insurance company that sets its rates within a certain range of the benchmark rate does not need government approval to use those rates.

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BINDING ARBITRATION

an arbitration where the arbitrating parties must accept all of the findings and decisions of the arbitrator or arbitrators.

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BOND-CREDITOR

the term that applies to the creditor who has taken a bond in order to secure his debt.

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BUSINESS AGENT

the person who is the representative of a labour union who hears the worker’s grievances.

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BUSINESS RECORD EXCEPTION

the exception to a rule that bars the introduction of hearsay evidence in law suits.

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BREAKING INTO

This term applies to illegally entering any premises with the intention of stealing.

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BAILIFF ERRANT

the person who is appointed by a sheriff who will perform acts such as serving summonses, subpoenas etc.

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BINDING INSTRUCTION

the instruction by a judge to the jury that they are bound by existing laws in their deliberations and in their ultimate verdict.

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BLUDGEON

a dangerous weapon or a club made of a heavy wood that sometimes has lead at its centre.

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BULK TRANSFER

This involves the sale of a business or the part of a business is sold for money which will be a fraudulent sale if the creditors are not paid from the proceeds.

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BALLOON NOTE

This term applies to an installment loan with interest that provides for a larger final payment that is known as the balloon payment.

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BALANCE OF CONVENIENCE

The question is to balance the relief given to the plaintiff against the injury that will be done to the defendant.

TLD Example: The court weighed the balance of convenience and opted not to grant the injunction requested by the plaintiff in light of the harm it would do to the defendant.

 
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BAILEE FOR HIRE

the term that applies to someone who has property delivered to them in trust for another person. He will get compensated for doing this.

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BY DUE PROCESS OF LAW

This means in accordance with the fundamental principles of justice and is in conformity with the usual judicial proceedings. Se due process of law.

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BOOTSTRAP SALE

the device where a person converts his ordinary income into a capital gain by selling corporate stock.

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BLUE-RIBBON JURY

specially selected jury that is composed of well qualified people.

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BAR ASSOCIATION

an organisation that is composed of attorneys.

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BALANCE OF POWER

International matters. Where a country wants to protect itself against a country or countries that may attack it by making alliances with a friendly country.

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