design review. A process by which a building permit is not issued until the proposed building meets the architectural standards established by land-use regulations. — Also termed architectural review. [Cases: Zoning and Planning 431–446. C.J.S. Zoning and Land Planning §§ 198, 204–211, 213–216.]
The law governing the organization and operation of administrative agencies (including executive and independent agencies) and the relations of administrative agencies with the legislature, the execu-tive, the judiciary, and the public. • Administrative law is divided into three parts: (1) the statutes endowing agencies with powers and establishing rules of substantive law relating to those
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dealer, n. 1. A person who purchases goods or property for sale to others; a retailer. 2. A person or firm that buys and sells securities for its own account as a principal, and then sells to a customer. See DEAL, n. & vb. registered dealer. A dealer registered or required to be registered under
Commodity Futures Trading Commission. A five-member federal commission that regulates trading in futures and options contracts and monitors the activities of commodity-exchange members, brokerage houses, commission-registered salespeople, and others associated with the industry. • The commission began operating in April 1975. 7 USCA § 2(a)(2). — Abbr. CFTC. [Cases: Commodity Futures Trading Regulation 51–61. C.J.S.
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An unincorporated banking institution owned by an individual or partnership and, depending on state statutes, subject to or free from state regulation.
state law. A body of law in a particular state consisting of the state’s constitution, statutes, regulations, and common law. Cf. FEDERAL LAW.
generic name. Trademarks. A term that describes something generally without designating the thing’s source or creator, such as the word “car” or “sink.” • A generic name cannot be protected as a trademark for the thing it denotes; e.g., “Apple” can be a trademark for computers but not for apples. — Also termed generic term;
exchange, n. Commercial law. 1. The act of transferring interests, each in consideration for the other. [Cases: Exchange of Property 1. C.J.S. Exchange of Property §§ 2–3.] bargained-for exchange. See BARGAINED-FOR EXCHANGE. like-kind exchange. See LIKE-KIND EXCHANGE. tax-free exchange. See TAX-FREE EXCHANGE. 1031 exchange. See 1031 EXCHANGE. 2. Money or negotiable instruments presented as payment;
Polaroid test. Trademarks. A judicial test for trademark infringement, analyzing eight factors: (1) strength of the mark, (2) similarity between the marks, (3) proximity of the products’ markets, (4) effects on market expansion (ability to “bridge the gap”), (5) actual confusion, (6) the defendant’s good or bad faith, (7) quality of the products, and (8)
A commodity exchange in which futures contracts are traded; a market for a trade (e.g., commodities futures contracts and stock options) that is negotiated at the current price but calls for delivery at a future time. — Also termed forward market. See FUTURES CONTRACT. [Cases: Commodity Futures Trading Regulation 6. C.J.S. Securities Regulation § 455.]