1.

Employment Law
your sickness pay entitlement is 30 days in any calendar year
your anal holiday entitlement is 25 days which cannot be carried over
2. Criminal law
homicide = a generic term or the !illing o another person
murder = the unlawul !illing o a person with intent
parole = a release rom preason" beore the sentence is inished" that depends on the
person #!eeping clean# and doing what he or she is supposed to do while out. $ the
person ails to meet the conditions" the rest o the sentence must be served
probation = % !ind o punishment given out as part o a sentence" which means that
instead o &ailing a person convicted o a crime" a iudge wiil order that the person reports
to an oicer regularly and according to a set schedule 'Lindsay Lohan(
appellate = reers to a higher court that can hear appeals rom a lower court
court of appeal = a court to which appeals are made on points o law resulting rom the
&udgements o a lower court
appellee = the person against whom an appeal is ta!n 'usually" but not always" the
winner in the lower court(
)he procedure ocuses on several main themes*
how on appeal is to be brought beore the court
normally" leave to appeal will be re+uested by the appellant
3. Civil law
contracts , this law covers promises that the law will enorce and remedies i a promise
is breached
debtor and creditor , situations when one party is unable to pay monetary debt to
another
negotiable instruments , #unconditioned writings# that promise or order the payment o
i-ed amounts o money. Drafts and notes are the main categories
real estate transactions . )he agreernent to sell between a buyer and seller is governed
by the general principles o contract law. $t is nonnally re+uired that these types o
contract be in writing
sales . regulates every phase o a transacticin or the sale o goods and provides
remedies or problems that may arise. $t provides or implied warranties o
merchantability and itness
secured transactions . )his interest arises when in e-change or a type o loan a
brorrower agrees" in a security agreernent" that a lender 'the secured party( may ta!e
specitied collateral owned by the borrower i he should deault on the loan
Each o the /hareholders represents to the other that it has ta!en all necessary other actions to
enable him validity to accept and perform the obligations re+uired under the terms o this
%greement and that perormance o the provisions o this %greement will not result in a breach o
or constitute a default under any agreement or other contractual restriction binding upon him.
)he /hareholders undertake with each other that they shall not without the prior written consent o
the other parties while a shareholder in the Company become involved in any business other than
that o the Company and that they shall during such period use all reasonable endeavors to promote
the interests o the Company and devote to its business such o their respective time and attention
and resources as are reasonably re+uired or the efficient and proitable conduct o the business o
the Company.
bonus shares = $ authori0ed by its articles" a company may transer proits to a und
called its #capital redemption reserve# and use it to issue these shares to the members in
proportion to their e-isting holdings.
Reserve capital = )hat part o the share capital that the company has decided will only
be called up i the company is being wound up and or the purposes o it being wound
up.
Authorized capital = )he amount o share capital stated in the articles o association.
Uncalled capital = )hat part o the issued capital on which the company has not
re+uested payment.
Allotment of shares = )he process by which people become members o a company.
Share capital = )he amount o share capital the company will have.
Paid-up capital = )he issued capital which has been ully or partly paid.up by the
shareholders.
Share premium = )he e-cess paid above a share#s nominal value.
Nominal value = % company#s authori0ed share capital is divided into shares o a
symbolic value. )he real value o the shares may change over time" relecting what the
company is worth" but their symbolic value remains the same.
Issued capital = )he value o the shares issued to shareholders" i.e. the nominal value o
the shares rather than their actual worth.
disualification of directors = % director ound to have conducted the aairs o an
insolvent company in an #unit# manner may be dis+ualiied rom holding any
management position in a company or between 2 and 15 years.
Petition = % written application to the court or relie or remedy.
!ankrupt = /omeone against whom a ban!ruptcy order has been made.
"inding-up = )he procedure whereby the assets o a company 'or partnership( are
gathered in and reali0ed" the liabilities met and the surplus" i any" distributed to
members.
#oing concern = )he basis on which insolvency practitioners preer to sell a business.
Eectively it means the business continues" &obs are saved" and a higher price is
obtained.
$omposition = %n agreement between a debtor and his creditors whereby the creditors
agree with the debtor between themselves to accepts rom the debtor payment o less
than the amounts due to them in ull satisaction o their claim.
%iuidator = )he person appointed to deal with the assets and liabilities o the company
or partnership once the resolution to wind up has been passed or a compulsory winding.
up order has been made.
Undischarged bankrupt = someone against whom a ban!ruptcy order has been made
and who has not been discharged rom ban!ruptcy
compulsory liuidation = )he placing o a company into li+uidation as a result o an
application to the court" usually by a creditor.
Administration order = % court order placing a company that is" or is li!ely to become"
insolvent under the control o an administrator.
&raudulent trading = 1here a company has carried on business with intent to deraud
creditors" or or any raudulent purpose.
Insolvent = )he state o not being able to pay one#s debts as they all due or having an
e-cess o liabilities over assets.
'fficial receiver = )he civil servant employed to head the regional oices whose
responsibilities cover ban!ruptcies and compulsory li+uidations.
Secured creditor = )he irst to be paid rom the secured assets.