In law, a fee that is payable to the lawyer out of any damages which have been awarded to the client by a court. There is no payment if the case is unsuccessful.

This is recorded as a debt on a company’s accounts which may or may not be incurred, depending on the outcome of a future event, such as a court case.

In accounting, an amount entered which is offset by another entry of the same value, i.e., a debit is offset by a credit.

Goods prohibited by law from being exported or imported. Smuggling.

A contract between an employee and an employer which specifies terms and conditions of employment, such as hours to be worked, duties to perform, etc., in return for a salary, paid benefits, paid holiday, etc., from the employer.

Also called Purchase Agreement. A legal document which states the terms and conditions, including price, of the sale of an item.

A person who is hired by a company (but not as an employee), often through an employment agency, for a specific period of time to work on a particular project.

An individual, company, etc., who agrees to provide goods and/or services to another individual or company under the terms specified in the contract.

An account which a company keeps in addition to its official accounts, in order to cross-check balances, etc., to ensure that the official accounts are accurate.

The ownership of more than 50% of the voting shares in a company, which enables the owner of these shares to make decisions, direct operations, etc.