Central planning and a non-market economy.

Material breach breach of contract which is so

Fundamental or significant that the non-breaching party

Is excused from its contractual obligations and may

Recover damages

mechanic lien (also mechanic's lien) lien to secure

Payment for labour or materials used in constructing

Or repairing buildings or other structures

Memorandum of association (UK) legal document that

Sets out the important elements of the corporation,

Including its name, address, objects and powers. It is

One of the two fundamental documents upon which

Registration of a company is based. (US articles of

Incorporation)

Merchant person who is engaged in the buying and

Selling of goods for profit

Merchantability warranty implied by law that something

Is fit for the ordinary purposes for which it is used

Merger acquisition of one company by another resulting

In dissolution of one and survival of the other

Merger regulation legislation aimed at limiting

Anti competitive concentration of market power. Law

That seeks to ensure that the combination of

Companies will not have any anticompetitive effects.

Minority shareholder shareholder who holds less than

Half the total shares outstanding and is therefore

Unable to control the business of the company

Minutes notes or records of business conducted at a

Meeting

Monopoly organisation or group that has complete

Control of an area of business so that others have no

Share

Monopoly right exclusive right to make, use or sell an

Invention

Moot court fictitious court where law students argue

Hypothetical cases

Mortgage transfer of legal title of a property, often land,

To another as security for payment of a debt

Motion application to a court to obtain an order, ruling,

Or decision

Naked debenture (UK) unsecured debt (US debenture)

Negotiable able to be transferred by endorsement or

Delivery

Negotiable instruments (UK) written and signed

Documents which represent an intangible right of

Payment for a specified sum of money on demand or

At a defined time. Some examples are bills of

Exchange, promissory notes, bank cheques or

Certificates of deposit. (US commercialpaper)

Nemo dat rule principle that states that one cannot give

Away more than one possesses. If one does not

Possess title to something, then one cannot transfer

Title of that thing to another.

Nominal capital (also authorised capital) total amount of

Stock a company may offer to its shareholders

Non-breaching party party to the contract that has not

Violated its contractual obligations

Non-consensual not agreed to or formed by agreement of

All parties

Non-monetary relief remedy that is not money, but rather

Something else such as an injunction, a declaratory

Judgment, specific performance or modification of a

Contract

Non-obvious quality of an invention being unexpected or

Surprising or sufficiently different from other existing

Things. It is often a requirement for obtaining a patent.

Non-possessory type of security interest whereby the

Date: 2015-12-11; view: 926