_Partnership

_{A business organization in which two or more persons carry on a business together. Partners are each fully liable for all the debts of the enterprise but they also share the profits exclusively. Many countries have laws, which regulate partnerships and may, for example, require some form of registration and allow partnership agreements. One of the basic advantages of partnerships is that they tend to allow business losses to be deducted from personal income for tax purposes (see also limited partner).}

_Party

_{A person, business, or government agency actively involved in the prosecution of defense of a legal proceeding.}

_Payee

_{1. The person or organization to whose order a cheque or draft or note is made payable.}

_{2. One to whom money is paid or is to be paid.}

_{Payer (or payor)}

 _{One who pays or is to pay, particularly the person who is to make payment of a cheque, bill, note, or account.}

_Penalty

_{1. Punishment, corporeal or pecuniary, or civil or criminal, although its meaning is generally confined to pecuniary punishment for doing an act that is prohibited or failing to do one which is required.}

_{2.  The sum of money which the obligor of a bond undertakes to pay in the event of his failure to perform his obligations under the conditions of the bond.}

_{Persons competent of making wills}

_{Any person of sound mind who has reached the age of majority can make a will. Accordingly, the following persons cannot make a will-lunatics, insane persons, etc., minors i.e. below 18 years of age. In case a guardian is appointed to a minor, such minor reaches age of maturity only at the age of 18 years.}

_{A married woman may dispose of by will any property, which she could alienate by her own act during her life. Person who are deaf, dumb or blind are not thereby incapacitated making a will if they are able to know what they do by it. A person who is ordinarily insane may make a will during an interval while he is of sound mind. No person can make a will while he is in such a state of mind, whether arising from intoxication or from illness or from any other cause, that he does not know what he is doing.}

_{A will or any part of a will, the making of which has been caused by fraud or coercion or by exercise of undue influence or pressure is not a valid will.}

_Petition

_{The formal, written document submitted to a court, and which asks for the court to redress what is described in the petition as being an injustice of some kind. Petitions set out the facts, identifies the law under which the court is being asked to intervene, and ends with a suggested course of action for the court to consider (e.g., payment of damages to the plaintiff). Petitions are normally field by lawyers because courts insist on complicated forms but most countries will allow citizens to file petitions provided they conform to the court's form. Some countries do not use the word "petition" and, instead, uses the term "application", "complaint" or the "writ".}

_Petitioner

_{The person filing an action in a court of original jurisdiction. Also the person who appeals the judgment of a lower court.}

_{See also respondent.}

_{PI & PII Khsara / Survey No.}

_{A no. allotted by the government to a particular plot of land for reference and demarcation.}

_Plaintiff

_{A person who brings an action, the party who complains or sues in a civil action.}

_{See also complainant.}

_Possession

_{Somebody other than the owner but, keeping possession of the property illegally.}

_Power

_{Authority to do. One has the power to do something if he is of legal age. Also, used as "powers", the term refers to authority granted by one person to another, i.e., powers given an executor in a Will or an agent in a power of attorney.}

_{Power of Attorney}

_{A document which gives a person the right to make binding decisions for another as an agent. A power of attorney may be specific to a certain kind of decision or general, in which the agent makes all major decisions for the person who is the subject of the power of attorney. The person signing the power of attorney is usually referred to, in law, as the donor and the person that would exercise the power of attorney, the donee.}

_{Prima Facie}

_{(Latin) a legal presumption, which means "on the face of it' or "at first sight". Law-makers will often use this device to establish that if a certain set of facts is proven, then another fact is established prima facie. For example, proof of mailing a letter is prima facie proof that it was received by the person to whom it was addressed and will be accepted as such by a court unless proven otherwise. Other situations may require a prima facie case before proceeding to another step in the judicial process so that you would have to at least prove then that at first glance, there appears to be a case.}

_{Private Law}

_{Law, which regulates the relationships between individuals. Family, commercial and labor law are examples of private law because the focus of those kinds of laws is the relationships between individuals or between corporations or organizations and individual, with the government a bystander. They are the counter part to public law.}

_{Probate Estate}

_{Estate property that may be disposed of by a will. See also estate}

_Property

_{Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." Before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.}

_{Property Tax}

_{A tax levied on land and buildings (real estate) and on personal property.}

_Proprietor

_{A person who has an exclusive right or interest in property or in a business (the owner).}

_{Proprietorship}

_{A business, usually unincorporated, owned and controlled by one person (sole proprietorship).}

_{Publication of Deal}

_{A notice published in a print media informing about a property, which is under a deal prior to the completion of the agreement.}

_{Purchase Agreement or Purchases Offer}

_{Agreement between buyer and seller of property, which sets forth in general the price, and terms of a proposed sale.}

_{Purchase Order}

_{A purchaser's written offer to a supplier formally stating all terms and conditions of a proposed transaction.}