Glossary 455Court of Human RightsA court in Strasbourg
which hears cases involving breach of the European
Convention on Human Rights.
CreditThe right to have payment of a debt
postponed.
CreditorA person who is owed money.
Credit saleA sale of goods whereby the buyer
gets ownership and possession of the goods before
payment of the price.
Crown CourtCourt which tries serious criminal
cases in front of a judge and jury.
Crystallisation (of a charge)The turning of a
floating charge into a fixed charge.
DamagesA payment of a sum of money to
compensate for a loss suffered as a result of a tort
or a breach of contract.
DebtorA person who owes money.
DebentureA document which shows that a loan
has been given by a company.
Decisions (i.e. of EU Council)Minor EU legislation,
addressed to an individual or Member State.
Declaration of incompatibilityA declaration by a
precedent-making court that a piece of legislation is
incompatible with rights contained in the European
Convention on Human Rights.
DeedA written contract which is signed by the
makers and also signed by people who witness the
makers’ signatures. The document must make it
clear that it is intended to be a deed.
DefamationA tort, committed by publishing a
statement which either lowers the claimant in the
estimation of right-thinking people generally or
causes the claimant to be shunned and avoided.
Default positionThe position which will apply
if no action is taken to change it.
Default provisionsProvisions in the Partnership
Act 1890, or the Limited Liability Partnerships Act
2000, which regulate the members’ or partners’
relationship with each other, but only if they do not
substitute their own arrangements.
Delegated legislationLegislation delegated by
Parliament to some other body to make.
De minimisAn abbreviation of the rule de minimis
non curat lex, the law is not concerned with trifles
(very trivial matters).
Derivative claimA legal action brought by a
company member on behalf of the company.Designated member (of an LLP)A member of an
LLP who has duties which are similar to the duties
of company directors and the company secretary.
Direct applicabilityEU law which is directly
applicable automatically forms part of the law of
Member States, such as the UK.
DirectiveA form of EU secondary legislation,
which must be implemented into the law of Member
States before a certain date.
DirectorA person who manages a company.
Directors’ reportPart of a company’s accounts
which gives a fair view of the development of the
company’s business and of the company’s position
at the end of a financial year.
Discharge (of contract)When a contract is
discharged, the obligations it created cease to exist.
Disclosed agencyAgency which exists when the
third party with whom the agent deals knows that
the agent is acting as an agent.
Disqualification orderA court order disqualifying a
person from being a company director for a certain
time.
Dissolution (of a partnership)The ending of
a partnership, which may be little more than a
formality. (Contrast winding up.)
Distance contractA contract concluded solely by
means of distance communications, without the
consumer and the supplier actually meeting each
other.
DistinguishingOccurs when a lower court refuses
to follow an apparently binding precedent, on the
grounds that it is materially different from the facts
of the case in front of it.
District judgeA judge attached to a county court
who hears claims allocated to the small claims track.
Divisible contractA contract which can be divided
into several, independent obligations. Also known as
a severable contract. Contrasted with an entire
contract.
Document of titleA document, such as a bill of
lading, which indicates that the holder can treat the
goods as if he owned them.
Duty of care (in tort of negligence)A duty to take
care not to injure people whom you can reasonably
foresee might be injured by your actions.
DuressImproper pressure, pushing a party into a
contract in such a way that he did not really agree to
it. Makes the contract voidable.Z01_MACI4097_03_SE_GLOSS.QXD 1/31/11 3:01 PM Page 455