letter of recall. 1. A document sent from one nation’s executive to that of another, summoning a minister back to his or her own country. 2. A manufacturer’s letter to a buyer of a particular product, asking the buyer to bring the product back to the dealer for repair or replacement. — Also termed recall […]
detinet (det-i-net). [Latin] He detains. • An action in debt may be in detinet when the plaintiff alleges that the defendant wrongfully kept goods, as distinguished from wrongfully taking them. An action in debt may also be in detinet when it is brought by or against someone other than an original party to the debt,
bank-statement rule. Commercial law. The principle that if a bank customer fails to examine a bank statement and any items returned with it, and report to the bank within a reasonable time any unauthorized payments because of a material alteration or forgery, the customer may be precluded from complaining about the alteration or forgery. UCC
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joint board. Labor law. A committee — usu. made up of an equal number of representatives from management and the union — established to conduct grievance proceedings or resolve grievances.
Club Fed. Slang. A low-security federal prison, usu. for white-collar criminals, that has a comparatively informal, relaxed atmosphere and, reputedly, luxury facilities. • Some sources claim that “Club Fed” prisons offer weight-lifting equipment, tennis courts, cable television, computers, musical instruments, and even miniature golf.
A fund that is established in collective bargaining to provide health and welfare benefits to union employees. • The fund is jointly managed by labor and management representatives. — Also termed Taft–Hartley fund.
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A method of lending in which lenders and investors look primarily to the cash flow from a particular asset for repayment.
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A provision in some commercial general liability policies, excluding coverage for damages arising from the withdrawal, inspection, repair, replacement, or loss of use of the insured’s product or work, to the extent that the product or work is withdrawn or recalled from the market because of a known or suspected defect or deficiency. — Also
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A usu. preprinted contract containing set clauses, used repeatedly by a business or within a particular industry with only slight additions or modifications to meet the specific situation. • Because stan-dard-form contracts usu. favor the drafting party, they can amount to adhesion contracts. Courts offset the drafting party’s advantage by construing the contract in the
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ombudsman (om-b[schwa]dz-m[schwa]n). 1. An official appointed to receive, investigate, and report on private citizens’ complaints about the government. 2. A similar appointee in a nongovernmental organization (such as a company or university). — Often shortened to ombuds. “An ombudsman serves as an alternative to the adversary system for resolving disputes, especially between citizens and government