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externality

externality. (usu. pl.) A social or monetary consequence or side effect of one’s economic activity, causing another to benefit without paying or to suffer without compensation. — Also termed spillover; neighborhood effect. negative externality. An externality that is detrimental to another, such as water pollution created by a nearby factory. positive externality. An externality that […]

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borg

borg (borg), n. Hist. Scots law. 1. A thing deposited as a security, esp. for bail or a suretyship. 2. A surety. — Also spelled borgh; borh.

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frankpledge

frankpledge. Hist. A promise given to the sovereign by a group of ten freeholders (a tithing) ensuring the group’s good conduct. • The frankpledge was of Saxon origin, but continued after the Norman Conquest. The members of the group were not liable for an injury caused by an offending member, but they did act as

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vicinage

vicinage (vis-[schwa]-nij). [Law French “neighborhood”] 1. Vicinity; proximity. 2. The place where a crime is committed or a trial is held; the place from which jurors are to be drawn for trial; esp., the locale from which the accused is entitled to have jurors selected. — Also termed vicinetum (vis-[schwa]-nee-t[schwa]m). [Cases: Criminal Law 108; Jury

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