The Law Dictionary

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

Category: P

PURCHASE PRICE

the price that has been agreed upon by owner and buyer for the transferring of a property.

PRIVATE RULING

a rule that will affect a person and not the general public. See private law.

PROFIT SHARING

an arrangement on a corporation or company where employees can share in business profits.

PAST CONSIDERATION

the name that is given to a consideration that is given before a contract is made.

PRUDENT

a term that means to use good judgment, be wise, sensible and reasonably cautious.

PUT IN FEAR

This means to intimidate or to be placed in a position of being afraid not to perform an act you have been urged to carry out.

PASSIVE NEGLIGENCE

a term given to the negligence that results from failing to act or perform an obligation.

POSSESSION NATURAL

a term that is used when a person physically occupies a property without having the title to it.

PARENTHESES

term that describes the marks of punctuation that are curved lines, (), used to insert a phrase, word or clause in the middle of a sentence.

POWERS SPECIAL

the authority that si given to an agent in order to perform acts that is different to performing on behalf of the principal.

PARTIAL PROBATE

a term that is used when a will is filed that contains parts that are not valid.

PRIVILEGES AND IMMUNITIES

the right of every US citizen to be protected by the government, have a right to own property, have a right to happiness. It is the 14th amendment.

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