Latin Words in Business Law
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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 dont 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. Cant have knowledge of any defect in the title he buys from.
Nemo dat quod non habet – Cant give what you dont 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.
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)