Business

  • Acceptance

    The unconditional agreement to an...

  • Acquisition

    This is the purchase of one company by another without a merger...

  • Agency Agreement

    This is an agreement which allows one party (the Agent) to sell products (goods or services) on behalf of another (the Principal) in return for commission...

  • Agent

    Someone who is appointed to act on behalf of another party, the...

  • Annual General Meeting (AGM)

    A company must hold a meeting of shareholders once each calendar...

  • Articles of Association

    A document which is required to incorporate a UK...

  • Authorised Share Capital

    Shares which are available to be...

  • Bankrupt

    A debtor who, either upon voluntary petition or one invoked by their creditors, is judged legally...

  • Bankruptcy

    The state of being...

  • Breach of Contract

    This occurs when a party to a contract fails to abide by the agreed...

  • Business Name

    Sole Traders and Partnerships can either trade under their own names or have a separate name, known as a Business...

  • Comfort Letter

    A document which is issued to back up an agreement but which does not have any contractual...

  • Company Voluntary Agreement (CVA)

    This is a deal between an insolvent company and its...

  • Conditions

    Conditions form the basis of a contract - if one of them fails or is broken, the contract is...

  • Consideration

    Something which must be given by either side in a...

  • Dissolution

    See...

  • Distribution Agreement

    This is an agreement which regulates the commercial terms whereby one party, the Supplier supplies goods and/or services to another party, the Distributor, for resale in a specified...

  • Dividend

    The profit of trading divided among the members in proportion to their shares and in accordance with their rights as...

  • Exclusion Clause

    Clause in a contract which is intended to exclude one party from liability if a stated circumstance...

  • Exemption Clause

    Clause in a contract that attempts to restrict the liability of the party that writes...

  • Express Terms

    Terms and provisions of a contract that are expressly written and on which the parties specifically...

  • Extradodinary General Meeting

    Any meeting of shareholders which is not an...

  • Extradodinary Resolution

    Company resolution that usually does not require any notice of its proposal, but must be passed by a majority of at least three quarters of...

  • Force Majeure

    An event which cannot be foreseen (eg. lightning) - liability for which is often excluded from...

  • Franchise Agreement

    This is an agreement for a person or organisation (the Franchisor) who wishes to grant the right to another person or organisation (the Franchisee) to operate an outlet of the Franchise business within a particular...
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