Published On:Thursday 12 January 2012
Posted by Muhammad Atif Saeed
Law Dictionary Word Under B
Bail to pay, or promise to pay, an amount of money so that an accused person is not put in prison before the trial. If the accused person does not appear at the trial, the court can keep the money put up for bail.
Bailee a person or organisation looking after valuable items to keep them safe for the owner.
Bailiff an officer of the court who carries out the court's orders, such as taking a debtor's goods and selling them to get money to pay the debtor's debts. A bailiff can also personally deliver (serve) documents on people.
Bailment transferring possession of goods from the owner to someone else. The ownership of the goods is not transferred. A practical example of bailment is that someone who hires a television has possession of it, but the rental company still owns the television.
Bailor the owner of valuable items which are in the possession of another person or organisation for safekeeping.
Balance sheet a summary of an organisation's financial position. It lists the values, in the books of account on a particular date, of all the organisation's assets and liabilities. The assets and liabilities are grouped in categories and paint a picture of the organisation's strengths and weaknesses.
Banker's draft a cheque drawn by a bank on itself. It is used when there must be certainty that a cheque will be paid.
Bankrupt someone who has had a bankruptcy order
Bankruptcy order an order that a court may issue against someone if they cannot pay their debts when they are due to be paid. This order takes ownership of the debtor's property away from the debtor and allows much of the property to be sold. The money raised is divided between the creditors following strict rules.
Bankruptcy search a document which says whether or not someone is bankrupt.
Bar the collective term for barristers. When a lawyer becomes a barrister, it is called 'being called to the bar'.
Bare trust a trust which holds property on behalf of a person until they ask for it back.
Bare trustee someone who holds property on behalf of another person until asked to return the property.
Bargain and sale a contract to sell any property or investment in land that a person owns.
Barrister a lawyer who can speak in the higher courts, which a solicitor is not allowed to do.
Barter a way of paying for things by exchanging goods instead of using money.
Battery using physical force on someone either intentionally or carelessly and without their agreement. It would not be battery if two boxers took part in a boxing match, even though they hurt each other during the match, because they would have agreed to fight each other.
Bearer the person who has a document in their possession.
Bench the name for the judges or magistrates in a court.
Bench warrant a warrant issued by a court for the arrest of an accused person who has failed to attend court. It is also issued when someone has committed contempt of court and can't be traced.
Beneficial interest belonging to a person even though someone else is the legal owner. If something really belongs to someone, even if that person does not legally own it, they have a beneficial interest in it. If, for instance, parents hold an investment on behalf of their child
they are the legal owners, but the child is the beneficial owner of the investment.
Beneficial owner the owner of a piece of land (and the buildings on it).
Beneficial owners have the right:
_ to the income their land generates; or
_ to use the land for their own purposes. It can also be a person who really owns something even though it is held in someone else's name.
Beneficiary someone who benefits from a will, a trust or a life insurance policy.
Bequeath to leave something (such as possessions or money) to someone in your will. You cannot bequeath land or real property but you can devise them instead.
Bequest something given in a will, other than land or real property.
Bigamy the offence committed by someone who is already married but still goes through a marriage ceremony with someone else.
Bill of costs the invoice the solicitor sends to a client giving details of any disbursements the solicitor has paid on behalf of the client, the fee the solicitor is charging and any expenses.
Bill of exchange a signed written order, instructing the person it is addressed to to pay an amount of money to someone. A cheque is a type of bill of exchange.
Bill of lading a document recording the goods a ship carries and the terms the goods are carried under.
Bill of sale a document which transfers ownership of goods from one person to another.
Binding effect the fact that an agreement must be kept to by law.
Binding over an order by a court in a criminal case. If someone has misbehaved or broken the peace, magistrates can bind them over. The magistrates can order them to pay a bond. This will be forfeited (won't be repaid) if the binding over terms are broken.
Binding precedent following the decisions made by higher courts. Lower courts must follow the precedents set by the decisions of higher courts and this is called binding precedent.
Blackmail demanding payment from a person in return for not revealing something shameful about them.
Bodily harm physical injury or pain.
Bona fide genuine, sincere or in good faith. (This term is Latin.)
Bona vacantia goods or an estate belonging to nobody. (This term is Latin.)
Bond a written promise to repay a debt at an agreed time and to pay an agreed rate of interest on the debt.
Bonded goods goods for which a bond has been paid to HM Customs and Excise as security for the duty owed on the goods.
Bonded warehouse a warehouse approved by HM Customs and Excise for storing goods imported into the UK until the duty on them has been paid or the goods have been exported to another country.
Bonus shares free shares that a company offers to its shareholders, in proportion to their existing
shareholdings.
Book value the value of a fixed asset, such as a building or machine, as recorded in an organisation's books. It is usually the amount paid for the asset less an amount for depreciation.
Bought note a document showing details of a purchase by someone for a third party. Stockbrokers produce bought notes for their clients. The bought note shows details of the investments the broker has bought for the client, including the price paid and any commission and duty charged.
Breach of contract failing to carry out a duty under a contract.
Breach of duty failing to carry out something which is required by law, or doing something the law forbids.
Breach of the peace (or breaking the peace) when harm is done to someone, or harm is threatened.
Breach of trust when a trustee does something which is against the trust's rules or fails to do something required by the trust's rules.
Break clause a clause in a contract which allows it to be ended.
Bridle way a path or road which is a right of way for people walking and people leading or riding horses. Cyclists can use it as well but must give way to pedestrians and horses.
Brief a document prepared by a solicitor which contains the instructions for the barrister to follow when acting for the solicitor in court.
Building preservation notice a notice that a building is listed. If a building is in danger of being altered or demolished, but the local planning authority thinks it should be preserved, the authority can issue a notice that the building is listed.
Burglary entering a building without permission with the intention of stealing or doing damage.
Bye-law or bylaw a law made by a local authority. It only applies within the local authority's boundaries.
