COMMERCE

admiralty court

Admiralty court, also known as maritime court, is a court that exercises admiralty or maritime jurisdiction and hears civil cases related to admiralty or maritime law.

Authorization

In the United States, the admiralty...

Admiralty law relates to the seas, maritime commerce, or navigation. Admiralty is a broad body of law governing the transport of goods and passengers by water, the purchase and charter of vessels, the hiring and maintenance of officers and...

adultery

Adultery is a form of extramarital sexual intercourse between a married person and a person who is not a party to the marriage. In a fault divorce, adultery is one of the grounds for divorce. In addition to obtaining a divorce, some states...

advance

An advance is a type of loan or payment in which money or goods are given before consideration is received in return; usually with the expectation of repayment or adjustment in basis by the party receiving the advance.

...

advance directive

An advanced directive is defined as a legal document that takes effect if one cannot make decisions due to illness or incapacity. Several different types of advance directives exist. Some, such as a living will, give instructions on which...

adverse domination

The doctrine of adverse domination allows the statute of limitations on a claim for breach of fiduciary duty against directors and officers of a corporation to be tolled until the corporation is no longer controlled by the alleged wrongdoers. This...

adverse interest

There are three main types of adverse interests.

An adverse interest can mean an interest, claim or right that is against another’s interest. For example, a plaintiff and defendant have adverse interests. A witness with...

after-acquired property

Also called “future-acquired property”.

Personal or real property that a borrower acquires after having taken on a debt secured by all of their property, which becomes additional collateral for the debt. Based on UCC § 9-204, such...

agency

Agency law is the common law doctrine controlling relationships between agents and principals. A principal-agent relationship is created when the agent is given authority to act for the principal. An agreement made by an agent is binding on...

agency shop

An agency shop is a place of employment in which full membership in a union is not required, but the union acts as an agent for the employees. Both union members and non-union members must pay periodic union dues and initiation fees whether...