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Debtor retains control over the property but is limitedIn what he or she may do with it Notice document providing notification of a fact, claim, or Proceeding Novation substitution of an obligation with a new one, Thereby cancelling the old obligation Objects goals or purposes of a company objects clause section of a company's memorandum of association that outlines the company's objects Obligee person to whom a right is owed Obligor person who owes a right Offer indication of willingness to enter into a contract on Specified terms, whereby, if accepted by the other Person, a binding contract would result Offeree party to whom an offer is made Offeror party that displays a willingness to enter into a Contract on specified terms Oligopoly market situation in which only a small number Of firms compete with each other Glossary E On notice of the security interest where a security Interest exists between a certain creditor and debtor. It occurs on perfection of a security interest. Ordinance (US) municipal law (UK by-law) Ordinary course of business regular mode of conduct or Routine of a trade Ordinary resolution (UK) resolution passed by a simple Majority of members at the annual general meeting Ordinary shares (UK) shares that carry voting rights and Dividend entitlements and which are the most common Form of shares (US common shares) , Paralegal person who assists a lawyer with legal work, But is not a lawyer Parallel behaviour acting in a similar way to another; for Example, setting prices at the same level as a Competitor or producing a similar level of output as Another in the same business Parol Evidence the rule that evidence, apart from the Actual contract itself, cannot modify, explain, vary or Contradict the written terms of a contract Party person or entity involved in an agreement Passage of title exchange of ownership in a property Passing of risk the point at which the risk (e.g. of Damage) passes from one party to another (and Therefore also the responsibility, for example, for Insuring goods) Passing off illegal type of unfair competition whereby a Business does something that the public would Reasonably believe to be related to the activities of a Different business such that this second business Suffers damages as a result Patent grant from the government giving exclusive rights To an inventor to make, use or sell an invention for a Specified period of time Payee person who is being paid in a bill of exchange Pecuniary compensation remedy that involves Compensating through money Penal law (also criminal law) area of law that deals with Crime, punishment or penalties Penetrate the market to enter into a market Per annum (Latin) per year Per se (Latin) by itself Perfected when the appropriate filing or registering or Other formal action of a security interest has been done to protect one's security interest in another's Property against all other creditors Date: 2015-12-11; view: 748
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