Legal dictionary
Available entries: 385 entries
Entries: 385
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Legal dictionary
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Management buyout
A form of acquisition where the company’s existing managers acquire a large part or all of the company from either the parent company or from the private owners, usually supported by venture capital investment and/or bank debt financing. Legal dictionary
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Marriage of convenience
A marriage arranged or entered into for a (non-romantic) financial, practical or political purpose that benefits one or both spouses, such as to gain nationality; a financial, practical or political arrangement between two people, groups or political parties that would not normally be expected to work together. Legal dictionary
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Material breach
Significant enough substantial failure in the performance of a contract, as to give the affected party the right to sue for damages as well as release the aggrieved party from its obligations. Legal dictionary
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Measure of damages
The process of calculating how much money compensation a court should award a party following a breach of contract, personal injury or other monetary claim. Legal dictionary
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Mediation
An attempt to settle a dispute with the help of a neutral third party where all parties are actively involved in the decision-making process. The individual who intervenes in order to help the other parties settle their dispute is called a mediator. Legal dictionary
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Memorandum of association
Is a document that governs the relationship between the company and the outside. It is basically a statement that the subscribers wish to form a company, have agreed to become members, and in the case of a company which is to have a share capital, to take at least one share each. Legal dictionary
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Memorandum of satisfaction
An official document issued by a lender confirming that a mortgage or other charge has been fully discharged. Legal dictionary
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Mens rea
Latin for ‘a guilty mind’, it is criminal intention or knowledge that an act committed by the perpetrator of a crime is wrong. Legal dictionary
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Merchantability
Refers to goods being appropriate for the ordinary purpose for which they were made and sold. This is an implied warranty and breach of it would give rise to a claim for compensation. Legal dictionary
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Mergers and acquisitions
A merger is a legal consolidation of two companies into one entity, whilst an acquisition occurs when one company takes over another company and completely establishes itself as the new owner (in which the acquired company still exists as an independent legal entity controlled by the acquirer). Legal dictionary
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Misdemeanour
A minor or lesser offence which is punished less severely than a serious crime and usually with a monetary fine. Legal dictionary
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Mitigation
Evidence introduced at a criminal trial, usually by a defendant, to reduce the seriousness of the alleged crime, or to support the otherwise good character of the defendant, so that the crime may be less harshly punished. Also, mitigating circumstances, are such as do not constitute a justification or excuse for the offence committed, but which, in fairness and mercy, may be considered as extenuating or reducing the degree of moral culpability. Legal dictionary
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Modus operandi
A Latin phrase meaning the method of operation. Most commonly used in criminal cases, it is sometimes referred to by its initials, M.O. The prosecution does not have to prove any modus operandi, but identifying and proving it can help the prosecution to prove that it was the defendant that committed the crime charged. Proving a modus operandi does not require the crimes to be identical, but the prosecution must make a strong and persuasive case of similarity between the crime charged and the other crimes. The prosecution may introduce evidence from prior or subsequent crimes to prove modus operandi only if the other crimes share particular and distinctive features with the crime charged. The features must be uncommon and rarely seen in other crimes, and they must be so distinct that they can be recognised as the handiwork of the same person. Legal dictionary
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Money laundering
The crime of hiding, disguising or moving money obtained from criminal activities to make it look like the money has been obtained legally. Legal dictionary
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Mortgage
Also referred to as a mortgage loan, is used by purchasers of real property to raise capital for the purchase, or by existing owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is secured on the borrower’s property, putting in place a legal mechanism which will enable the lender to take possession and sell the secured property to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. Legal dictionary
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