_Cancel

_{To cross out, annul, destroy, void and/or rescind a document. Canceling can be done in several ways: tear up the document or mark on its face that it is cancelled, void, or terminated if the debt for which it stood has been paid. It is important that the document (like a promissory note) itself become no longer operative either by destruction or marking, so that is cannot be used again.}

_{Capacity to Contract}

_{Legal competency to make a contract.}

_Capital

_{1. From Latin for caput, meaning "head", the basic assets of a business (particularly corporations or partnerships) or of an individual, including actual funds, equipment and property as distinguished from stock in trade, inventory, payroll maintenance and services.}

_{2.  Related to the basic assets or activities of a business or individual, such as capital account, capital assets, capital expenditure, and capital gain or loss.}

_{3.  An amount of money a person owns, as distinguished from the amount which must be financed.}

_{Chain of Title}

 _{A report of the ownership history from the government allotment or patent to the current owners is referred to as a chain of title.}

_Collateral

 _{Property put up by someone getting a loan. If they fail to repay the loan, the collateral goes to the person granting the loan. Also see security.}

_{Collateral Source}

_{A rule of tort law, which holds that the tortfeasor is not allowed to deduct from the amount he or she would be held to pay to the victim of the tort, any goods, services or money received by that victim from other "collateral" sources as a result of the tort (e.g., insurance benefits).}

_{Commercial Paper}

_{Negotiable instruments used in commerce. Usually they are short term, unsecured, promissory notes issued by highly rated entities and are traded on the money markets.}

_{Commercial Treaty}

_{An agreement between two or more countries that establishes the conditions under which business may be conducted between their citizens within their countries.}

_{Common Area}

_{In condominium and some co-operative housing projects, the areas not owned by an individual owner of the condominium or co-operative residence, but shared by all owners, either by percentage interest or owned by the management organization. Common areas may include recreation facilities, outdoor space, parking, landscaping, fences, laundry rooms and all other jointly used space. Management is by a homeowners" association or co-operative board, which collects assessments from the owners and pays for upkeep, some insurance, maintenance and reserves for replacement of improvements in the common area. This can also refer to the area in a shopping center or mall outside of the individual stores, for which each business pays a share of maintenance based on percentage of total store space occupied.}

_{Common Property}

_{1. Real property owned by "tenants in common," who each have an "undivided interest" in the entire property.}

_{2. Property managed by a homeowners" association in a condominium project or a subdivision development, which all owners may use and each owns a percentage interest in.}

_{3. Lands owned by the government for public (common) use, like parks and national forests.}

_Company

 _{A legal entity, allowed by legislation, which permits a group of people, as shareholders, to create an organisation, which can then focus on pursuing set objectives, and empowered with legal rights, which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. Also known as a "corporation". The primary advantage of a company structure is that it provides the shareholders with a right to participate in the profits (by dividends) without any personal liability (the company absorbs the entire liability of the business).}

_Compensation

_{1. Payment for work performed, by salary, wages, commission or otherwise. It can include giving goods rather than money.}

_{2.  The amount received to "make one whole" (or at lease better) after an injury or loss, particularly that paid by an insurance company either of the party causing the damage or by one"s own insurer.}

_Complainant

_{The party who complains or sues, one who applies to the court for legal redress.}

_{See also plaintiff.}

_Complaint

_{1. The legal document that usually begins a civil lawsuit. It states the facts and identifies the action the court is asked to take.}

_{2. Formal written charge that a person has committed a criminal offence.}

_Compounding

 _{A fixed sum of money payable as per notification under section 3B of the Bihar Entertainment Tax Act 1948, or section 18A of the Bihar Finance Act, 1981 in lieu of the normal tax payable by the dealer.}

_Consent

_{1. A voluntary agreement to another"s proposition.}

_{2. To voluntarily agree to an act or proposal of another, which may range from contracts to sexual relations.}

_Consent

 _{Agreement. voluntary acceptance of the wish of another.}

_{Consent Decree}

 _{An order of a judge based upon an agreement, almost always put in writing, between the parties to a lawsuit instead of continuing the case through trial or hearing. It cannot be appealed unless it was based upon fraud by one of the parties (he lied about the situation), mutual mistake (both parties misunderstood the situation) or if the court does not have jurisdiction over the case or the parties. Obviously, such a decree is almost always final and non-appeal able since the parties worked it out. A consent decree is a common practice when the government has sued to make a parson or corporation comply with the law (improper securities practices, pollution, restraints of trade, conspiracy) or the defendant agrees to the consent decree (often not to repeat the offence) in return for the government not pursuing criminal penalties. In general a consent decree and a consent judgment are the same.}

_{Consent Judgment}

 _{A judgment issued by a judge based on an agreement between the parties to a lawsuit to settle the matter, aimed at ending the litigation with a judgment that is enforceable.}

_{Consideration}

 _{Payment or money.}

_{A vital element in the law of contracts, consideration is a benefit which must be bargained for between the parties, and is the essential reason for a party entering into a contract. Consideration must be of value (at least to the parties), and is exchanged for the performance or promise of performance by the other party (such performance itself is consideration). In a contract, one consideration (thing given) is exchanged for another consideration. Not doing an act (forbearance) can be consideration, such as "I will pay you Rs. 1,000 not to build a road next to my fence". Sometimes consideration is "nominal" meaning it is stated for form only, such as "Rs. 10 as consideration for conveyance of title", which is used to hide the true amount being paid. Contracts may become unenforceable or rescindable (undone by rescission) for "failure of consideration" when the intended consideration is found to be worthless than expected, is damaged or destroyed, or performance is not made properly (as when the mechanic does not make the car run properly). Acts which are illegal or so immoral that they are against established public policy cannot serve as consideration for enforceable contracts. Examples: prostitution, gambling where outlawed, hiring someone to break a skater"s knee or inducing someone to beach an agreement (talk someone into backing out of a promise).}

_{Consolidation}

 _{Dividing a big piece of land into smaller & same sized parts or combining small pieces of adjacent land to get on big piece of land.}

_Consortium

 _{A group of separate businesses or business people joining together and co-operating to complete a project, work together to perform a contract or conduct an on-going business.}

_{The marital relationship, particularly sexual intimacies, between husband and wife. Consortium arises in a lawsuit as a claim of "loss of consortium". Often it means that due to one spouse"s injuries or emotional distress he/she cannot have sexual relations for a period of time or permanently, which is a loss to the mate for which he/she should be awarded damages. How loss of consortium is valued in money terms is a difficult question.}

_Constitution

 _{The basic law or laws of a nation or a country which sets out how that country will be organized by deciding the powers and authorities of government between different political units, and by stating the basic principles of society. Constitutions are not necessarily written and may be based on aged customs and conventions, as is the case in England and New Zealand (the USA, Canada and Australia all have written constitutions).}

_{Consultations}

_{Formal discussions between two or more parties to an agreement with respect to their fights under the agreement. Typically, consultations are requested by a party that believes that its rights under an agreement have been nullified or impaired and are the first and often mandatory step in dispute settlement. If consultations are unsuccessful in resolving the dispute within a specified time, the dispute normally is submitted to a panel for a ruling. The most important multilateral agreements providing for consultations are the WTO"s Understanding on Rules and Procedures Governing the Settlement of Disputes and GATT Articles XXII and XXIII.}

_{Contempt of Court}

_{An act of defiance of court authority or dignity. Willful disobedience of a judge"s command or of an official court order. Contempt of court can be direct (swearing at a judge or violence against a court officer) or constructive (disobeying a court order). The punishment for contempt is a fine or a brief stay in jail (e.g., overnight).}

_Conveyance

 _{A written document, which transfers property from one person to another. In real-estate law, the conveyance usually refers to the actual document which transfers ownership between persons living (i.e., other than by will), or which charges the land with another"s interest, such as a mortgage.}

_Corporation

 _{A legal entity, allowed by legislation, which permits a group of people, as shareholders (for-profit companies) or members (non-profit companies), to create an organization, which can then focus on pursuing set objectives, and empowered with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. Also known as a "company". The primary advantage of for profit corporations is that it provides its shareholders with a right to participate in the profits (by dividends) without any personal liability because the company absorbs the entire liability of the organization.}

_{Custodian (Land)}

 _{The owner of the property in whose name the deal is made.}

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