Fundamental principles of law by which a government is created and a country is administered, representing a mandate from the people on governance.
Joint liability refers to the shared responsibility of two or more individuals or entities to fulfill a debt or legal obligation. This often applies in situations where multiple parties have borrowed money or are subject to a legal claim.
In the context of legal responsibility, the term implies the proportional assumption of liability by companies based on their market share, especially relevant in cases of product liability.
Regulation refers to a set of rules or directives made and maintained by an authority (often a government agency) to administer and enforce a law. Regulations are essential for establishing standards, maintaining order, and ensuring compliance within various sectors including business, finance, and public safety.
The Uniform Commercial Code (UCC) is a collection of standardized laws designed to regulate commercial transactions across the United States. It aims to harmonize and streamline business laws to create consistency and facilitate easier trade and commerce between states.
The Uniform Gifts to Minors Act (UGMA) is a legislative framework adopted by most U.S. states to govern the distribution and administration of assets gifted to minors. It allows minors to own assets without requiring the services of an attorney to establish a special trust.
