Legal

Legal

Legal terms

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Legal

revoke

Law; Legal

To void or annul something, for example law or license, by recalling, withdrawing, reversing, cancelling, rescinding or taking back.

actual control person

Law; Legal

A member of an organization or an employee of a company who has significant sway in the decision making process.

annual inspection

Law; Legal

An examination or investigation; the right to see and duplicate documents, enter land, or make other such examinations for the purpose of gathering evidence.

joint liability

Law; Legal

A situation where two or more persons are both responsible for a debt, claim or judgment.

several liability

Law; Legal

Responsibility of one party for the entire debt (as in "joint and several") or judgment when those who jointly agreed to pay the debt or are jointly ordered to pay a judgment do not do so.

liquidated damage

Law; Legal

Monetary compensation for a loss, detriment, or injury to a person or a person's rights or property, awarded by a court judgment or by a contract stipulation regarding breach of contract.