Buyout agreement (also known as a buy-sell agreement) refers to a contract that gives rights to at least one party of the contract to buy the share, assets, or rights of another party given a specific event. These agreements can arise in a...
contracts
call option
A call option (often shortened to call) is a contract that allows its owner to buy an asset or service from the seller at a certain price until a certain date. The buyer never has to purchase the assets, and the option will terminate at the...
cancel
In a legal context, to cancel is to render something otherwise valid as void or no longer in effect. For example, a person might write a check and then destroy it or write “void” across its face; both would successfully eliminate the check’s...
cancellation
Cancellation is the act of destroying a document by making lines through it, tearing it up, or defacing it with the intention of rendering it void. In contract law, cancellation happens when a party to a contract ends the contract due to the...
cap
A cap is a set limit on some form of income, interest, fees, loan, or benefit. Examples of caps:
A loan can have varying interest rates based on the market, but the loan can have a maximum or cap rate of interest. Businesses can set a...capacity
Capacity refers to the ability to make a rational decision based upon all relevant facts and considerations. Some common usages of the term “capacity” in a legal sense include:
In the context of criminal law, the term “capacity” means...cartel
A cartel is a group of independent corporations or other entities that join together to fix prices, rig bids, allocate markets, or conduct other similar illegal activities. Cartel conduct is mainly subject to criminal penalties under United States...
cashier's check
A cashier’s check is a bill of exchange, drawn by a bank upon itself (the bank is the debtor), payable to another person, showing the payee’s authorization to receive the amount represented on the check from the bank.
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caveat emptor
Caveat emptor is a common law doctrine that places the burden on buyers to reasonably examine property before making a purchase. A buyer who fails to meet this burden is unable to recover for defects in the product that would have been...
CDA claims
Claims and the Contract Disputes Act
In Government contracts, a formal claim filed pursuant to the Contract Disputes Act of 1978 is defined as a “written demand or written assertion by one of the contracting parties seeking, as a matter of right, the...