In business, the power given to management allowing them to give orders and to control subordinates.

The closing down of a business by selling its assets to pay its debts.

The fixed amount agreed upon by parties to a contract, to be paid to one party in the case of a breach of contract by the other party.

Known as ‘Sticker Price’ in the US. The advertised or recommended retail price (RRP) of a product.

A person or party who is involved in a court action or lawsuit.

To legally settle a dispute in, or take a claim to, a court of law.

To routinely or enthusiastically take legal action to settle disputes.

A trust created in which assets can be transferred to someone while the grantor (the person who owns the assets) is still alive. Living Trusts avoid dealing with the legalities of a will.

Someone who offers unsecured loans at excessive rates of interest.

Where a business or investor is required to purchase a certain amount of locally sourced materials to be used in the manufacturing, etc., of their product.