Fiduciary
Someone who owes a duty of loyalty, good faith and scrupulously honest dealing to another (i.e., a fiduciary duty.) Usually a fiduciary must act always in the best interests of the party that it owes a duty to, usually at...
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Declaratory Judgment (DJ Action)
A case taken in which the plaintiff is seeking from the court a declaration that the plaintiff is not liable to the defendant. A DJ action is best described as “a lawsuit in reverse,” where the putative defendant sues the...
Kankei
Japanese word for relationships, a core Japanese value. In particular, Japanese business highly values kigyō-kan kankei, which might best be described as long-term business relationships....
Kernel
...used to describe those fundamental elements of the OS that are essential for the computer to run. However, the defining line between what is the kernel and what is the rest of the OS is vague and fuzzy at best....
Geneva Convention
The best known “Geneva Convention” actually references four treaties on standards and principles for humanitarian treatment in war. However, there are numerous international agreements also known as the ‘Geneva Convention.’ In international commercial law significant ones are: the Convention on...
Betamax, the Betamax Case
...at best dubious and the decision has been cut back significantly since. It’s plausible to suggest that, since by the time the case reached the Supreme Court, approximately a sixth of US households owned video recorders, either Betamax or VHS,...
Verification
...In US litigation it refers to a declaration under penalty of perjury by a litigant or a representative of the litigant (if a company) that answers in an interrogatory are true and correct to the best of the verifier’s knowledge....
Uniform Law Commission
...to adopt on various areas of law including business laws, family law, legal procedures, etc. Its best known product is the Uniform Commercial Code or UCC, adopted, with some variations in every US State and the District of Columbia (but...