Legal Dictionary
Understand legal terms in plain language. Search our comprehensive dictionary of legal terms.
Browse by Letter
Popular Terms
Contract
A legally binding agreement between two or more parties that creates obligations each party must fulfill. If one party fails to meet their obligations, the other party can seek legal remedies.
generalLiability
Legal responsibility for one's actions or debts. When someone is liable, they can be legally required to pay money or take other actions to remedy a harm they caused.
tort lawNegligence
Failing to take reasonable care to avoid causing injury or loss to another person. If you act carelessly and someone gets hurt as a result, you may be legally responsible for the harm caused.
procedureStatute of Limitations
A law that sets the maximum time after an event within which legal action can be taken. If you wait too long to sue, you lose the right to pursue your claim, regardless of its merit.
estate planningPower of Attorney
A legal document that gives someone else the authority to make decisions and act on your behalf. This person, called an agent or attorney-in-fact, can handle financial, medical, or other matters when you cannot.
ip lawIntellectual Property
Legal rights that protect creations of the mind, such as inventions, artistic works, brand names, and trade secrets. These rights allow creators to control and profit from their creations.
contract lawForce Majeure
A contract clause that frees both parties from liability when an extraordinary event beyond their control prevents one or both from fulfilling their obligations. Often called an "Act of God" clause.
contract lawIndemnification
A contractual obligation where one party agrees to compensate another for certain losses or damages. It shifts financial responsibility from one party to another, often appearing as "hold harmless" clauses.
business lawDue Diligence
A thorough investigation or audit of a potential investment, business, or product before making a decision. It involves researching all relevant facts to understand risks and opportunities.
dispute resolutionArbitration
A way to resolve disputes outside of court, where an impartial person (arbitrator) hears both sides and makes a binding decision. It's often faster and more private than traditional litigation.