User:Jukeboksi/BBA studies/Law backported to Wikipedia: Difference between revisions
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= Business Negotiations and Contracts = | = Business Negotiations and Contracts = | ||
== Business Negotiations and Contracts - Lesson 1 - | == Business Negotiations and Contracts - Lesson 1 - Core terminology about contracts == | ||
In '''[[w:common law|common law]]''' ( [[w:fi:tapaoikeus]] ) legal systems, a '''[[w:contract|contract]]''' is an agreement having a lawful object entered into voluntarily by two or more [[w:party (law)|parties]], each of whom intends to create one or more legal obligations between them. | In '''[[w:common law|common law]]''' ( [[w:fi:tapaoikeus]] ) legal systems, a '''[[w:contract|contract]]''' is an agreement having a lawful object entered into voluntarily by two or more [[w:party (law)|parties]], each of whom intends to create one or more legal obligations between them. | ||
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A '''[[w:power of attorney|power of attorney]]''' ('''POA''') or '''letter of attorney''' ( [[w:fi:valtakirja]], valtuutus ) is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other's. ( Wikipedia ) | A '''[[w:power of attorney|power of attorney]]''' ('''POA''') or '''letter of attorney''' ( [[w:fi:valtakirja]], valtuutus ) is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other's. ( Wikipedia ) | ||
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:** '''[[w:financial risk|financial risk]]''' ( talousriski ) | :** '''[[w:financial risk|financial risk]]''' ( talousriski ) | ||
:** '''[[w:legal risk|legal risk]]''' when doing [[w:international business]]. ( Teacher ) | :** '''[[w:legal risk|legal risk]]''' when doing [[w:international business]]. ( Teacher ) | ||
=== Random more advanced terminology / vocabulary === | |||
* '''covenant''' == an agreement w/a specific promise to do or not to do something | |||
::: non-competition covenant | |||
* '''whereas''' == in contrast | |||
* injunction == obligation | |||
* '''breach''' == to break a boundary, to violate, to not fulfill | |||
* '''rescind''' cancel w/ effect of being the same position as before signing the contract | |||
* '''unwarranted''' == uncalled for, unjustified | |||
* '''contention''' == disagreement | |||
::: contentious ( adj. ) | |||
* '''efficacious''' == effective | |||
* an offer => offeror - offeree | |||
* a lease => lessor - lessee | |||
* '''statute''' == law/rule | |||
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=== Additional reading regarding risks === | === Additional reading regarding risks === | ||