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Glossary

 
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Glossaries

Term Definition
fiduciary
A trustee or other individual given a high standard of responsibility for the property of another.
Fitness for a Particular Purpose
A warranty that indicates that goods are suitable for the purpose for which they are obviously intended.
Force Majeure
A circumstance for which no one is liable; Also known as an "Act of God."
foreclosure
A process by which a creditor take real property back in satisfaction of debt owed by the former title holder.
Forum Selection
A contract provision identifying where any cause of action would be formally brought against the opposing party.
Franchise
A busienss arrangement where an owner is provided training and support in exchange for conducting business in a very specified manner and paying royalties for use of a recognized name or system of doing business.