Glossary of Tort Law Terms
G H I
K L M
Q R S
X Y Z #
- B -
Bad Faith: Dishonesty or
fraud in a transaction, such as entering into an agreement with no intention of
ever living up to its terms or knowingly misrepresenting the quality of
something that is being bought or sold.
Bailment: A legal
relationship created when a person gives property to someone else for
safekeeping. To create a bailment the other party must knowingly have exclusive
control over the property. The receiver must use reasonable care to protect the
Bench Trial: Also called
court trial. A trial held before a judge and without a jury.
Bifurcation: Splitting a
trial into two parts: a liability phase and a penalty phase. In some cases, a
new jury may be impaneled to deliberate for the penalty phase.
Bill of Rights: The first ten
amendments to the U.S. Constitution.
Binder: An outline of the
basic terms of a proposed sales contract between a buyer and a seller.
Board of Directors: The group
of people elected by a corporation's shareholders to make major business
decisions for the company.
Bond: A document with which
one party promises to pay another within a specified amount of time. Bonds are
used for many things, including borrowing money or guaranteeing payment of
Brief: A written document
that outlines a party's legal arguments in a case.
Burden of Proof: The duty of
a party in a lawsuit to persuade the judge or the jury that enough facts exist
to prove the allegations of the case. Different levels of proof are required
depending on the type of case.
Buy-Sell Agreement: An
agreement among business partners that specifies how shares in the business are
to be transferred in the case of a co-owner's death.
By-Laws: A corporation's
rules and regulations. They typically specify the number and respective duties
of directors and officers and govern how the business is run.