Legal Dictionary

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A collection of legal terms used on our web site and elsewhere. If there is any other term you would like explained then please let us know

A fuller explanation of many terms relating to Information and Communications Technology ('ICT'), Intellectual property Rights ('IPR'), Employment and Company law can be found on their respective web pages.

Administration of estates
Dealing with the financial affairs of someone who has died.

Agreement under hand
Any written agreement between two or more people that does not express itself to be a deed. It is not necessary for signatures to be witnessed. Most agreements are in this form.

CHAPS payment
The electronic transfer of money from one bank to another.

Completion date
The date, agreed on exchange of contracts, when the purchase of the property is completed and the buyer can move in.

Codicil
A legal amendment you make to your will.

Confidentiality agreement
An agreement to prevent the disclosure of confidential information.

Copyright
The right to control the exploitation of creative works.

Deed
A written agreement that expresses itself to be executed as a deed and to which the signature of anyone signing it must be witnessed to make the deed valid. Very few agreements have to be by deed. Amongst those that do are sales of land and powers of attorney.

Design law
The protection of industrially produced products of an individual design.

Enduring Power of Attorney
A Power of Attorney that continues in effect notwithstanding the mental incapacity of the person who made it.

Freehold
The absolute ownership of land without limitation in time.

Gross misconduct
Behaviour that can result in the automatic dismissal of an employee without prior warning.

ICT
Information and Communications Technology; the automated transfer and processing of communications and information.

Intellectual Property Rights (IPR)
The ownership of knowledge.

Intestate
If you die without making a will then you die intestate.

Intestacy
Intestacy is handling the affairs of someone who has died intestate.

Intestacy rules
A set of rules which provide for who inherits what on your death, if you die intestate in whole or part.

Joint Venture Agreement
Two or more people coming together for a common business venture where they do not want to be treated as partners.

Landlord & Tenant Act 1954 Part ll
All leases of business premises for more than six months are entitled to the protection of this Act, unless an agreement has been made specifically excluding its protection. With certain exceptions, the Act gives you a right to a new lease when your existing one expires. The protection of the Act can be very important when it comes to discussing rent and other terms in your new lease.

Leasehold (A lease)
The limited ownership of property for a defined number of years. Most flats are let on lease for a term of 99 years. At the expiration of the lease ownership of the property can return to the owner of the freehold. If the premises are for business purposes then the lease will be for a shorter period, which can be anything from 6 months to 25 years.

Limited liability
Normally applied to limited companies or limited liability partnerships. The shareholders and partners who own such businesses have their liability limited to the value of any unpaid shares and the company or partnerships assets. Beyond that they have no personal liability for its debts.

Limited Company
A company registered under the Companies Acts. The law regards it as a person just as a human being is a person. It can own property, employ people make contracts, sue and be sued.

Limited liability partnership ("LLP")
A partnership which has limited liability.

Living will (Advance statement)
This is not a will. It takes effect in your lifetime, not after your death. It is concerned with your physical health and not your property. It is a statement you make, on medical advice, as to the treatment you wish to receive should you become terminally ill.

Local authority search
This is a questionnaire sent to the local council to see if they are aware of any issues e.g. building of new roads, breach of planning permission, which may affect a property or its value.

Memorandum & Articles of Association
The rules and regulations governing the running of a limited company.

Mental capacity
The ability to understand the nature and affect of your actions.

Mental incapacity
The loss of mental capacity.

Minor child
Any child below the age of 18 is legally a minor.

Patent
The right to exploit an invention.

Partial intestacy
This arises where a testator has made a will but, due either to its drafting or the death of beneficiaries, part of the estate remains un-disposed of. In such circumstances that part of the estate will be dealt with under the intestacy rules.

Partnership
Two or more people coming together for a common business activity. If they do not want their business dealings to be regarded as a partnership they should consider having a joint venture agreement.

Power of Attorney
A deed that allows someone else to sign your name and carry out other acts on your behalf. Power to act under a Power of Attorney comes to an end on the death or mental incapacity of the person who made the deed.

Redundancy
The dismissal of an employee due to the closure of a business or reduction in its workforce.

Shareholders agreement
An agreement between the shareholders of a company by which they can regulate the running of the company between them. It can be very useful to protect a minority shareholder.

Sole trader
An individual who runs a business in their own name and which is not a limited company or a partnership.

Sorce code
The higher-level language in which a computer program is originally written.

Statutory will
A will made with the assistance of the court where an individual is not well enough to make a will themselves and it is felt that the distribution of their property under the intestacy rules would not be in accordance with their wishes.

Trade mark
The registration of a graphic image that symbolises a business.

Unfair dismissal
The dismissal of an employee without good reason or without following fair procedure.