nominal rate
The interest rate stated in a loan agreement or on a bond, with no adjustment made for inflation. — Also termed coupon rate; face rate; stated rate; stated interest rate.
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berne plus
Berne-plus, adj. Copyright. Of or relating to a copyright-treaty provision that affords greater intellectual-property protection than the minimum required by the Berne Convention, either by granting stronger rights or by extending protection to new forms of subject matter. • The term arose during negotiations over the TRIPs Agreement, reflecting the principle that the treaty should
indemnity contract
A contract by which the promisor agrees to reimburse a promisee for some loss irrespective of a third person’s liability. — Also termed contract of indemnity.
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self insured retention
self-insured retention. Insurance. The amount of an otherwise-covered loss that is not covered by an insurance policy and that usu. must be paid before the insurer will pay benefits (the defendant had a $1 million CGL policy to cover the loss, but had to pay a self-insured retention of $100,000, which it had agreed to
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gradatim
gradatim (gr[schwa]-day-t[schwa]m), adv. [Latin] Roman law. Gradually; by successive degrees of rela-tionship. • Gradatim refers to the step-by-step admission of successors when there is no heir next in line. See GRADUS(1).
paction
paction (pak-sh[schwa]n). 1. PACTIO. 2. Int’l law. An agreement between two nations to be performed by a single act.
chattel paper
chattel paper. A writing that shows both a monetary obligation and a security interest in or a lease of specific goods. UCC § 9-102(a)(11). • Chattel paper is generally used in a consumer transaction when the consumer buys goods on credit. The consumer typically promises to pay for the goods by executing a promissory note,
umpire
umpire. An impartial person appointed to make an award or a final decision, usu. when a matter has been submitted to arbitrators who have failed to agree. • An arbitral submission may provide for the appointment of an umpire. — Also termed (in Scots law) oversman. [Cases: Arbitration 36. C.J.S. Arbitration §§ 59, 61–62.]
impediment
impediment (im-ped-[schwa]-m[schwa]nt). A hindrance or obstruction; esp., some fact (such as legal minority) that bars a marriage if known beforehand and, if discovered after the ceremony, renders the marriage void or voidable. canonical impediment. A ground for annulment recognized by canon law and developed by the ecclesiastical courts of the Roman Catholic Church. • Canonical
consent jurisdiction
Jurisdiction that parties have agreed to, either by accord, by contract, or by general appearance. • Parties may not, by agreement, confer subject-matter jurisdiction on a federal court that would not otherwise have it. [Cases: Courts 22. C.J.S. Courts § 61.]
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