A previous or last contested state before the current state.

A market approach aimed at keeping things the same and not trying for a larger market share and avoiding competitor confrontation.

A report that summarizes a situation over a set period of time.

Acquisition of an item for its visible sign of belonging to a group or social class.

The claim, agreement or right that can’t be subject of any legal action because it is too late after the date has been exceeded. See statute of limitations. See laches.

Body of written laws that have been adopted by the legislative body.

Needs that contracts must be written and executed properly to prevent perjury and fraud.

Time frame set by legislation where affected parties need to take action to enforce rights or seek redress after injury or damage.

Statute of limitations applying the number of years a party has after the contract is over to act.

The ban that has been placed on an activity by a parliamentary act. See statute barred.

1. The interpretation of a statute by the court.2. Principles developed for legislation interpretation by courts.

Worker treated like an employee for statutory deductions but for tax from income deductions the worker is considered to be self-employed.

Minimum length of time needed under law for a specified notice.

The obligation created under law that doesn’t arise from a contractual relationship.

A permit or license required by law to allow you to engage in a certain activity.

Limits or controls that have been place on activities by its ruling legislation.

Trust that is created by an operation of law where real property is held by trustees for the immediate or essential sale using their discretion.

Suspension in the progression of a law suit by a court order in situations where proceedings are frivolous or a plaintiff has been involved in misconduct.

A court order suspending a judicial proceeding either in full or in part.

Undertaking by a bank that will indemnify the carrier from liabilities arising from a shipment release without necessary documents of shipping.