Published On:Thursday, 12 January 2012
Posted by Muhammad Atif Saeed
Law Dictionary Word Under F
Factor is:
_ someone buying or selling for a commission; or
_ an organisation which provides finance for a business by advancing money on the value of the invoices the business sends out.
False imprisonment wrongfully keeping someone in custody (for example in prison).
False pretence misleading someone by deliberately making a false statement.
False representation lying in a statement to persuade someone to enter a contract.
Family Division the part of the High Court dealing with marriage breakdowns and probate.
Felony the former term used for serious crimes such as rape or murder. It is still in use in the USA.
Feme covert a woman who is married.
Feme sole a woman who is not married or no longer married.
Feu a lease which lasts for ever.
Feu duty a yearly charge on a feu (which only applies in Scotland).
Fiduciary in a position of trust. This includes people such as trustees looking after trust assets for the beneficiaries and company directors running a company for the shareholders' benefit.
Final judgement the court's final decision in a civil case.
Fitness to plead whether or not the person charged is capable of making an informed decision. If, because of mental illness, a person charged with an offence is unable to understand what is going on the person may not be fit to plead guilty or not guilty.
Fixed charge a charge which provides security for money lent. The charge is over a specific property.
Floating charge a charge used to provide security for money lent to a company. The charge is over the company's liquid assets (such as stocks and debtors) but it is only triggered by an event such as liquidation.
Forbearance when one party to an agreement does not pursue rights under the agreement even though the other party has not kept to its terms. An example would be someone not suing to recover an overdue debt.
Force majeure an event which cannot be controlled and which stops duties under an agreement from being carried out.(This phrase is French.)
Foreclosure repossessing property. If a mortgagor (the borrower) has failed to keep up the repayments on a mortgage, the mortgagee (the lender) may apply to the High Court for an order that the debt be repaid by a particular date. If the debt is not repaid the property will be repossessed. This procedure is called foreclosure.
Forfeiture the loss of possession of a property because the tenancy conditions have not been met by the tenant.
Fostering looking after other people's children. Sometimes children are looked after by people who are not their parents (natural or adopted). It usually happens because the parents cannot look after the children properly because of changed circumstances such as illness.
Fraud lying or deceiving to make a profit or gain an advantage, or to cause someone else to make a loss or suffer a disadvantage.
Fraudulent conveyance ownership of land being transferred without consideration and with the intention of defrauding someone.
Fraudulent preference someone who is insolvent paying one of their creditors while knowing there is not enough money to pay the others.
Fraudulent trading running a business with the intention of defrauding its creditors or other people.
Freehold describing land that only the owner has any rights over.
Free of encumbrances no one else having any rights over something. When property is owned by someone and nobody else has any rights over it, it is owned free of encumbrances.
Frustration stopping a contract. Sometimes a contract cannot be carried out because something has happened which makes it impossible. This is called frustration of contract.
Futures contract a binding contract to buy or sell something on a date in the future at a fixed price.
