Business law 2: Key nouns

nominee (from the verb to nominate. Nominee can precede words

such as account and shareholder: a nominee account; a nominee
shareholder)

franchise (a franchisee is a person who runs a franchise, a franchiser

/ franchisor is somebody who licenses a franchise. The act of selling a
licence to trade as a franchise is franchising: He runs his
sandwichmaking chain as a franchising operation)

ombudsman

guarantor (sometimes used in the expression to stand guarantor for

somebody, meaning to pay or promise to pay someone's debts)

breach (common collocations of this word include: a breach of

confidence, a breach of contract, a breach of promise, a breach of the
peace, a breach of trust, a breach of warranty. It is also used with in
+ of: We are in breach of Community law; The defendant is in breach
of his statutory duty, etc)

acceptance (someone who accepts an offer is an acceptor)

perjury (also used as a reflexive verb: to perjure yourself)

tortfeasor (from tort, a civil wrong. A case by a claimant who alleges

he or she has suffered damage or harm is called action in tort)

compensation (from the verb to compensate. Compensation in this

context is sometimes called compensatory damages)

mediation (from the verb to mediate. A person who mediates is a

mediator)

debenture (collocations of this word include: debenture register,

debenture bond, debenture capital, debenture holder, debenture
issue)

liquidation (from the verb to liquidate. Often used in the expression

to go into liquidation: The company went into liquidation when it was
declared insolvent)

damages (a person or a company can bring an action for damages

against another person or company)

liability (you can accept, admit or refuse liability for something. A

company's articles of association should include a liability clause,
which states that the liability of its members is limited. The liability of
an employer for acts committed by an employee during the course of
work is called vicarious liability)

negligence (from the verb to neglect. The adjective is negligent)

goodwill (for example, She paid 10,000 for the goodwill of the
shop, and 4,000 for the stock. Goodwill is one of a company's
intangible assets, and so is not shown in the company's accounts,
unless it figures as part of the purchase price paid when acquiring
another company)

injunction (note that some injunctions are granted temporarily until

the case comes up in court. These are called temporary or
interlocutory injunctions)