Glossary
Note: Words in italics are defined elsewhere in the glossary.
acceptance: The component of a contract in which each party indicates that it agrees with and consents to be bound by the terms of the contract. Also the act of agreeing to the terms of a contract.
actual damages: See damages.
administrative law: Laws created by government agencies through the issue and enforcement of rules, regulations, orders, and policies pursuant to the agency's authority and mandate. See also statutory law.
affidavit: A sworn statement of fact submitted as a document in legal proceedings.
arbitration: A means of settling a dispute in which the matter is submitted to an independent person or agency for resolution. Arbitration often is used as an alternative ...
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