The Law Dictionary

Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.

Category: B

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.

Blue Book

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

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.

BONDED INDEBTEDNESS

a debt that is secured by an issued bond with the monies received to be used for corporate purposes.

BETROTHAL

a term meaning to promise to marry or an engagement.

BOTTOM HOLE CONTRACT

an agreement where the owners contract to pay the well drillers a set some of money when they reach a certain depth.

BLUE CHIPS

a term referring to high class and Grade-A securities.

BYLAWS

These are the rules and regulations that are adopted by corporations benefit societies and associations that govern all ongoing activities.

BUSINESS EXPENSE

These are the various legitimate expenses that are incurred during conducting a business enterprise.

BAD FAITH CAUSE OF ACTION

a law suit that is based on an assumption that the opposing parties conduct showed reckless disregard of the suitor’s right and was unreasonable.

BEGGING THE QUESTION

This term applies to the argument that will assume that the question that is at issue has already been proved.

BICAMERAL

This terms means having 2 legislative houses such as a senate and a house of representatives that is different to a government with one legislative parliament.

BUILDING LINES

These are the setback lines and the line on the street where you cannot build in front of.

BINDING ARBITRATION

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

BOND-CREDITOR

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

BUSINESS AGENT

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