conditional acceptance
An agreement to pay a draft on the occurrence or nonoccurrence of a particular event. [Cases: Bills and Notes 83. C.J.S. Bills and Notes; Letters of Credit § 38.]
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family income insurance
An agreement to pay benefits for a stated period following the death of the insured. • At the end of the payment period, the face value is paid to the designated beneficiary.
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guaranteed annual wage plan
guaranteed annual wage plan. Labor law. A wage-payment method in which the employer agrees either to pay employees a predetermined minimum sum each year or to provide a minimum number of hours of employment each year. • A wide variety of guaranteed annual wage plans are used. For example, an employer may agree to pay
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parentelic method
parentelic method (par-[schwa]n-tee-lik or -tel-ik). A scheme of computation used to determine the paternal or maternal collaterals entitled to inherit when a childless intestate decedent is not survived by parents or their issue. • Under this method, the estate passes to grandparents and their issue; if there are none, to great-grandparents and their issue; and
trips
TRIPs.abbr. Patents. The Agreement on Trade-Related Aspects of Intellectual Property Rights, a treaty that harmonized and strengthened the intellectual-property laws of its signatories by linking the obligation to protect the intellectual-property rights of other members’ citizens with a mechanism for settling international trade disputes. • TRIPs was negotiated at the 1994 Uruguay Round of the
cassare
cassare (k[schwa]-sair-ee), vb. [Law Latin fr. Latin cassus “void”] Hist. To quash or nullify. • Cassare usu. referred to voiding an agreement, law, or writ. See CASSETUR BILLA; CASSETUR BREVE.
most favored nation treatment
most-favored-nation treatment. Intellectual property. The practice or policy of automatically and unconditionally granting any intellectual-property protection, advantage, favor, privilege, or immunity that by treaty is extended to nationals of any member country to the nationals of all member countries. • This treatment is incorporated into the TRIPs Agreement. — Abbr. MFN treatment.
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nauticum fenus
nauticum fenus (naw-ti-k[schwa]m fee-n[schwa]s), n. [Greek nautikon “nautical” + Latin fenus “interest”] Roman & civil law. A loan to finance the transport of goods by sea; specif., a loan on bottomry made to a transporter of merchandise by ship. • The loan is subject to an extremely high rate of interest because it does not
european union
European Union. An association of European nations whose purpose is to achieve full economic unity (and eventual political union) by agreeing to eliminate barriers to the free movement of capital, goods, and labor among the member-nations. • The European Union was formed as the European Economic Community (EEC) by the Treaty of Rome in 1957,
quot generationes tot gradus
quot generationes tot gradus (kwot jen-[schwa]-ray-shee-oh-neez taht gray-d[ schwa]s). [Law Latin] Hist. As many generations as degrees (of relationship). • The phrase appeared in reference to degrees of relationship.
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