Glossary Of Basic Legal Terms

Fault: to be at “fault” means that you are to blame for something

Felony: a crime the nature of which is serious enough for you to spend one or more years in jail

Fiduciary Duty: is where you have an obligation to act in the best interest of a third party

Fine: punishment imposed for an offence

Foreclosure: occurs when a borrower cannot repay their debts and the creditor forecloses and sells the property – such as a house

Franchise: a business relationship whereby the owner of a business licenses others to use the name of his business

Good Faith: is to act honestly and without deception

Grand Jury: is a group of civilians convened to determine whether or not a criminal case has enough merit to proceed to trial

Grantor: the person who establishes a trust on behalf of the beneficiaries

Guarantee: a legal agreement under which a person agrees to guarantee the obligations of another

Guarantor: the person who provide a guarantee on behalf of another

Heirs : person entitled by law to inherit the estate of a deceased person

Implied: means to give the appearance – thus, you have “implied warranty”, which means that you have given the appearance that there was a warranty, even if there was not one

Incompetency: to lack legal qualification or fitness to discharge a legal duty

Indemnity: to provide an undertaking to secure against loss or damages in the event of certain events – in other words: “compensation”

Injunction: a court order requiring you to stop doing something

Intestate: means to die without having left a will

Joint Custody: means that both parent have equal rights to a child following a divorce

Joint and Several Liability : means that you agree to be jointly and individual liable for a debt with another person

Judgment: the official decision given by a court

Jurisdiction: the court’s authority to hear your case

Jury: group of twelve citizens charged with hearing your case

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