Legal Terms in Product Liability and Contracts

Posted on Feb 4, 2025 in English and Classical Studies

Product Liability and Safety Terms

• Demonstration of fault: Shows that the party responsible for a defect or damage is at fault.
• Unsafe: If something is unsafe, it can cause harm.
• Hazardous: If a product is hazardous, it exposes people to risk or harm.
• Precaution: The care taken in advance to prevent harm or danger.
• Good faith: The honest intent to fulfill a promise or contract fairly.
• Legal responsibility: The obligation to meet standards of safety and good practices.
• Damage: Any loss or harm to a person or property as a result of an accident or negligence.
• Culpability: The state of being responsible or having blame for a criminal or negligent act.
• Absolute liability: Defines complete responsibility for an act or for harm resulting from a guilty or illegal act.
• Safety: The standard by which products are judged not to cause harm or loss.
• Manufacturer: A type of company that designs and creates products to sell.
• Supplier: Makes goods available for sale in large or small numbers.
• Distributor: Arranges for the sale and shipment of products from the manufacturer to a sales outlet.
• Retailer: The sales outlet where items are available for consumers to purchase.
• Defective: If something is defective, it does not work as intended, due to an error or flaw.
• Manufacturer product: A product that has been made or put together from natural and/or man-made materials, usually in a factory.
• Dangerous: If something is dangerous, it can cause harm.

Contract Law Key Terms

• Legal contract: Any legally binding agreement involving two or more people or businesses that explains what the parties will or will not do.
• Requirements contract: Exists between a supplier or manufacturer and a buyer and requires the seller to sell all the particular products that the buyer needs, and the buyer agrees to purchase the goods only from that supplier.
• Distribution agreement: An agreement made between a manufacturer and a supplier to distribute and/or sell manufactured items.
• Agreement of sale: A document that details the terms and conditions of the purchase of goods or services.
• Severable contract: Comprised of several separate contracts so that the breach of one does not necessarily mean the breach of the others.
• Adhesion contract: A contract that unfairly favors one party over the other.
• Breach of contract: Occurs when one party breaks the terms of an agreement with another party.
• Implied contract: Exists even when its terms are not explicitly stated, either because the parties assumed a contract existed, or because the lack of a contract could result in unjust benefit to one of the parties.
• Contract of employment: A legally binding agreement between an employer and employee that sets the terms of the working relationship.
• Bilateral contract: A contract in which both parties exchange promises to perform.
• Unilateral contract: An agreement for one party to pay in exchange for the performance or work of the other party.
• Loan agreement: A contract between a lender and a borrower that sets the terms and conditions of the loan repayment.
• Term: The term of a contract is the period of time during which the contract is valid.
• Assent: To assent to something is to agree with what has been proposed.
• Offer: A detailed proposal by one party that, once accepted by the other party, creates a contract between the two.
• Acceptance: The agreement to follow the terms of the contract.
• Object: The object of a contract is the purpose of the agreement.
• Exchange: To exchange something is to give services, money, or goods in return for something else.
• Valid: If a contract is valid, it is legally binding.
• Binding: If a contract is binding, it imposes an obligation or duty.
• Enforceable: If something is enforceable, it is compelled or put in force by law.
• Review: To review something is to read and consider it carefully.
• Appointment: An arrangement to meet at a certain place and time.
• Contract litigation: The branch of law that resolves the disputes of parties who have entered into a contract.
• Back out: To back out of an agreement is to leave the agreed-upon tasks unfulfilled.
• Failure: The refusal or inability to complete a task.
• Commitment: An agreement to meet an obligation.
• Fraud: The crime of intentionally deceiving someone and causing harm or loss.
• Bad faith: Intentionally refusing to complete a contractual obligation.
• Recover: To recover damages by court order is to be partially or fully reimbursed for a loss.
• Collect: To collect damages or funds is to receive payment.
• Resolution: A solution to a problem that is accepted by all parties.
• Defend: To defend something is to make an argument in defense of a claim or allegation.

Professional Conduct and Legal Ethics

• Breach of fiduciary duty: A failure to act in the best interest of a party who believes the relationship to be one of trust and good faith.
• Arbitration: An out-of-court procedure for resolving disputes in which one or more arbitrators hear evidence and make a decision.
• Professional conduct: The actions and services expected from a professional in his or her work.
• Competent representation: A lawyer’s ability to argue a client’s case well.
• Conflict of interest: A situation in which one personal or professional duty conflicts with another.
• Transaction: The action of carrying out a professional agreement.
• Reasonable fee: A reasonable fee for services meets the accepted standards of charges for a particular type of service.
• Impartiality: The state of being unbiased or fair in a dispute.
• Advocate: To advocate for someone or something is to speak or write about it in a supportive way.
• Confidentiality: The spoken or written agreement to protect privacy.
• Integrity: The standard of moral and ethical principles that one is expected to adhere to.
• Misconduct: An act of intentional wrongdoing.
• Diligence: The state of being careful and giving a lot of attention to a matter.
• Fraudulent: If something is fraudulent, it is deceptive and thereby unfairly harmful to a certain party.
• Attorney-client privilege: The client’s right to keep all information shared with an attorney private.
• Privileged status: The confidential status of communications or correspondence that is protected from disclosure by law.
• Reveal: To reveal something is to share or discuss something that was previously hidden or private.
• Confidential: If information is confidential, it is held in strict privacy or secrecy.
• Disclosure: The act of exposing or revealing information, usually documentary.
• Consent: To approve or agree to something.
• Representation: The legal work that a licensed attorney performs on behalf of a client.
• Malpractice: A professional’s failure to conform to the laws or accepted standards of quality or professionalism in their work.
• Waive: To waive something is to give it up or disregard it willingly.
• Prevention: The act of stopping something from happening.
• Opposing party: Represents the other side of a court case or dispute.
• Communication: Includes any written or spoken exchange between parties.