Latin Words in Business Law

Latin stuff

* Stare Decisis - Previous court decisions

* Corpus - Person

* Uberima fidei - (of utmost faith) One is obligate to disclose everything even if they are told they don't have to

* Prospectus - free disclosure by a company of all its financial assets and obligations

* Mens Rea - Knowledge of what you are doing. You cannot commit a crime without mens rea

* Aad idem - Consensus - meeting of minds. you say you have a lemon you wants to sell you for five dollars, you want the lemon badly the guy thinks this is gonna be a cheap car you bring him back and give him a piece of fruit. There is not aad idem and therefore there is no contract (no genuine intention).

* Malum prohibitum - against the law; unlawful.

* Bone fide - innocent buyer purchases goods in good faith. Can't have knowledge of any defect in the title he buys from.

* Nemo dat quod non habet - Can't give what you don't have

* Caveat emptor - buyer beware

* Proviso - pre-made agreement

* Mortgage  mort - death ... gage - pledge. Therefore mortgage = death pledge.

* Proviso - provision provision in a contract generally a clause that specifies that if a certain event happens the contract can come to an end

* Ubi jus ibi remedium - where you have a legal right you have a legal remedy

* De minimus non curat lex - small things have small damages (small compensation)

* Tortus - wrong doing. (A civil wrong compensated with money damages.)

* Violenti non fit injuria - he who consents cannot claim injury.

o One stipulation is that if you are signing to do something you need to be completely informed of the dangers otherwise the other party is liable for damages even though you signed those rights away

* Ratio decidendi - applying law to facts

* Res ipsa loquiter - if it is obvious what happened (speaks for itself)

* Novus actus interveniens - and act of intervention

* Stare decisis - previous court decisions

* (Violenti non fit injuria) volens - Where you voluntarily assume risk by engaging in some dangerous activity.

* Compus mentus - full mind (not crazy)