necessary diligence
The diligence that a person is required to exercise to be legally protected.
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Search Results for: TEC
boulwarism
boulwarism. Labor law. A bargaining tactic in which an employer researches the probable outcome of collective bargaining and uses the information to make a firm settlement offer to a union on a take-it-or-leave-it basis, so that there is no real negotiation. • Boulwarism is now considered to be an unfair labor practice by the National
sue and labor clause
sue-and-labor clause. Marine insurance. A provision establishing that the marine insurer will cover the costs incurred by the insured in protecting the covered property from damage or minimizing actual damages to the property. • The clause generally requires the insurer to “sue and labor” to protect the insured party’s interests. — Also termed rescue clause.
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office of special counsel
Office of Special Counsel. An independent federal agency that investigates activities prohibited by the civil-service laws, rules, and regulations and, if the investigation warrants it, litigates the matter before the Merit Systems Protection Board. • The agency was established by Reorganization Plan No. 2 of 1978. — Abbr. OSC.
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european court of human rights
European Court of Human Rights. The judicial body of the Council of Europe. • The court was set up in 1959 and was substantially changed in 1994–1998. As of 2003, the court had 41 judges, each elected by the Council of Europe’s Parliamentary Assembly. The court adjudicates alleged violations of the civil and political rights
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trust indenture act
Trust Indenture Act. A federal law, enacted in 1939, designed to protect investors of certain types of bonds by requiring that (1) the SEC approve the trust indenture, (2) the indenture include certain protective clauses and exclude certain exculpatory clauses, and (3) the trustees be independent of the issuing company.15 USCA §§ 77aaa et seq.
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amnesty international
Amnesty International. An international nongovernmental organization founded in the early 1960s to protect human rights throughout the world. • Its mission is to “secure throughout the world the observance of the Universal Declaration of Human Rights.” Amnesty Int’l Statute, art. 1.
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obscene
obscene, adj. Extremely offensive under contemporary community standards of morality and decency; grossly repugnant to the generally accepted notions of what is appropriate. • Under the Supreme Court’s three-part test, material is legally obscene — and therefore not protected under the First Amendment — if, taken as a whole, the material (1) appeals to the
assessor
assessor. 1. One who evaluates or makes assessments, esp. for purposes of taxation. — Also termed (specif.) tax assessor. [Cases: Taxation 309, 312. C.J.S. Taxation §§ 455–457, 459–461, 478–480.] 2. A person who advises a judge or magistrate about scientific or technical matters during a trial. See MASTER(2). 3. ADSESSOR. — assessorial (as-[schwa]-sor-ee-[schwa]l), adj. —
pricecost analysis
price/cost analysis. A technique of determining, for antitrust purposes, whether predatory pricing has occurred by examining the relationship between a defendant’s prices and either its average variable cost or its average total cost.
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