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| This dictionary contains: 8526 juridical terms |
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Floating law clause
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Floating law clauseA clause in a contract which permits one party to the contract to choose the applicable law, after a predetermined event has occurred. Such clauses have been criticized for lending themselves to evasion of the law.
RELATED TERMS--------------------------------------
Clause
Contracts. A particular disposition which makes part of a treaty; of an act of the legislature; of a deed, written agreement, or other written contract or will.
Contract
A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract.
Party
Practice, contracts. When applied to practice, by party is understood either the plaintiff or defendant. In contracts, a party is one or more persons who engage to perform or receive the performance of some agreement.
Law
A rule or body of rules of conduct inherent in human nature and essential to or binding upon human society. The learned profession that is mastered by graduate study in a law school and that is responsible for the judicial system.
Evasion
A subtle device to set aside the truth, or escape the punishment of the law.
SIMILAR TERMS--------------------------------------
Floating charge
A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is appropriate to assets and material which is subject to change on a day to day basis, such as stock. Individual items move into and out of the charge as they are bought and sold in the ordinary course of events. The floating charge crystallises if there is a default or similar event. At that stage the floating charge is converted to a fixed charge over the assets which it covers at that time. A floating charge is not as effective as a fixed charge but is more flexible.
PREVIOUS AND NEXT TERMS--------------------------------------
Flagrante delicto
The act of committing a crime; when a person is arrested flagrante delicto, the only evidence required to convict him, is to prove that fact.
Fleet
Punishment. English law. Saxon fleot. A place of running water, where the tide or float comes up. A prison in London, so called from a river or ditch which was formerly there, on the side of which it stood.
Fleta
The title of an ancient law book, supposed to have been written by a judge who was confined in the Fleet prison. It is written in Latin, and is divided into six books.
Flight
Criminal law. The evading the course of justice, by a man's voluntarily withdrawing himself.
Floating charge
A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is appropriate to assets and material which is subject to change on a day to day basis, such as stock. Individual items move into and out of the charge as they are bought and sold in the ordinary course of events. The floating charge crystallises if there is a default or similar event. At that stage the floating charge is converted to a fixed charge over the assets which it covers at that time. A floating charge is not as effective as a fixed charge but is more flexible.
Floating law clause
Floodgates
It was feared by Cardozo, C.J. that to grant damages for economic loss (supra) would open the floodgates to "liability in an indeterminate amount for an indeterminate time, to an indeterminate class".
Florin
The name of a foreign coin. In all computations of customs, the florin of the southern states of Germany, shall be estimated at forty cents; the florin of the Austrian empire, and of the city of Augshurg, at forty-eight and one-half cents.
Flotilla principle
The principle whereby the tonnage of both the tug and the tow were taken into consideration in calculating the shipowner's limitation of liability arising out of collisions between the tow and another vessel or a stationary object. The principle originally applied in England where the tug and tow belonged to the same shipowner, and even if the fault or negligence which caused the collision was committed only aboard the tug. Today, however, the combined tonnage of tug and tow are taken into consideration in calculating the shipowner's limitation in England, whether or not those vessels are commonly owned, but only if the fault or negligence that caused the collision was committed aboard both those vessels.
Flotsam
Flotsam or flotsan. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
Flotsan
Flotsan or flotsam. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
RELATED TERMS--------------------------------------
Clause
Contracts. A particular disposition which makes part of a treaty; of an act of the legislature; of a deed, written agreement, or other written contract or will.
Contract
A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract.
Party
Practice, contracts. When applied to practice, by party is understood either the plaintiff or defendant. In contracts, a party is one or more persons who engage to perform or receive the performance of some agreement.
Law
A rule or body of rules of conduct inherent in human nature and essential to or binding upon human society. The learned profession that is mastered by graduate study in a law school and that is responsible for the judicial system.
Evasion
A subtle device to set aside the truth, or escape the punishment of the law.
SIMILAR TERMS--------------------------------------
Floating charge
A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is appropriate to assets and material which is subject to change on a day to day basis, such as stock. Individual items move into and out of the charge as they are bought and sold in the ordinary course of events. The floating charge crystallises if there is a default or similar event. At that stage the floating charge is converted to a fixed charge over the assets which it covers at that time. A floating charge is not as effective as a fixed charge but is more flexible.
PREVIOUS AND NEXT TERMS--------------------------------------
Flagrante delicto
The act of committing a crime; when a person is arrested flagrante delicto, the only evidence required to convict him, is to prove that fact.
Fleet
Punishment. English law. Saxon fleot. A place of running water, where the tide or float comes up. A prison in London, so called from a river or ditch which was formerly there, on the side of which it stood.
Fleta
The title of an ancient law book, supposed to have been written by a judge who was confined in the Fleet prison. It is written in Latin, and is divided into six books.
Flight
Criminal law. The evading the course of justice, by a man's voluntarily withdrawing himself.
Floating charge
A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is appropriate to assets and material which is subject to change on a day to day basis, such as stock. Individual items move into and out of the charge as they are bought and sold in the ordinary course of events. The floating charge crystallises if there is a default or similar event. At that stage the floating charge is converted to a fixed charge over the assets which it covers at that time. A floating charge is not as effective as a fixed charge but is more flexible.
Floating law clause
Floodgates
It was feared by Cardozo, C.J. that to grant damages for economic loss (supra) would open the floodgates to "liability in an indeterminate amount for an indeterminate time, to an indeterminate class".
Florin
The name of a foreign coin. In all computations of customs, the florin of the southern states of Germany, shall be estimated at forty cents; the florin of the Austrian empire, and of the city of Augshurg, at forty-eight and one-half cents.
Flotilla principle
The principle whereby the tonnage of both the tug and the tow were taken into consideration in calculating the shipowner's limitation of liability arising out of collisions between the tow and another vessel or a stationary object. The principle originally applied in England where the tug and tow belonged to the same shipowner, and even if the fault or negligence which caused the collision was committed only aboard the tug. Today, however, the combined tonnage of tug and tow are taken into consideration in calculating the shipowner's limitation in England, whether or not those vessels are commonly owned, but only if the fault or negligence that caused the collision was committed aboard both those vessels.
Flotsam
Flotsam or flotsan. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
Flotsan
Flotsan or flotsam. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
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This dictionary contains 8526 terms.
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