Dictionary of Law
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

conflict of interest :: legal definition


Conflict of interest - n. a situation in which a person has a duty to more than one person or organization, but cannot do justice to the actual or potentially adverse interests of both parties. This includes when an individual's personal interests or concerns are inconsistent with the best for a customer, or when a public official's personal interests are contrary to his/her loyalty to public business. An attorney, an accountant, a business adviser or realtor cannot represent two parties in a dispute and must avoid even the appearance of conflict. He/she may not join with a client in business without making full disclosure of his/her potential conflicts, he/she must avoid commingling funds with the client, and never, never take a position adverse to the customer.


Related Law Terms

acceptance of service :: n. agreement by a defendant (or his/her attorney) ... o accept service. See also: service
acknowledgment :: n. the section at the end of a document where a no ... me leases and various other papers.
adverse party :: n. the opposite side in a lawsuit. Sometimes when ... the court rules the will was legal.
adverse witness :: n. a witness in a trial who is found by the judge ... r the opposition. See also: witness
after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction
arrest :: v. 1) to take or hold a suspected criminal with le ... anda warning probable cause warrant
attorney-client privilege :: n. the requirement that an attorney may not reveal ... ivileged communication work product
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
bulk sales acts :: n. state laws (spelled out in the Uniform Commerci ... g without paying current creditors.
care :: n. in law, to be attentive, prudent and vigilant. ... she is involved. See also: careless
challenge for cause :: n. a request that a prospective juror be dismissed ... remptory challenge venire voir dire
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
competent :: adj. 1) in general, able to act in the circumstanc ... all bases. See also: evidence will
confession :: n. the statement of one charged with a crime that ... Miranda warning self-incrimination
conservatee :: n. a person whom a court has determined because of ... and the like. See also: conservator
conservator :: n. a guardian and protector appointed by a judge t ... ies. See also: conservatee guardian
consortium :: n. 1) a group of separate businesses or business p ... oney terms is a difficult question.
constructive notice :: n. a fiction that a person got notice even though ... personally. See also: constructive
contributory negligence :: n. a doctrine of common law that if a person was i ... : comparative negligence negligence
corporation :: n. an organization formed with state governmental ... ation public corporation securities
d.b.a. :: n. short for "doing business as," when a person or ... that is registered with the state.
double jeopardy :: n. placing someone on trial a second time for an o ... that occurred thirty years earlier.
fair comment :: n. a statement of opinion (no matter how ludicrous ... amation libel public figure slander
fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust
franchise :: 1) n. a right granted by the government to a perso ... on property, income or profits tax.
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
guardian :: n. a person who has been appointed by a judge to t ... torship. See also: conservator ward
hearsay rule :: n. the basic rule that testimony or documents whic ... interest dying declaration hearsay
hit and run :: n. the crime of a driver of a vehicle who is invol ... , and then walks back to the scene.
hostile witness :: n. technically an "adverse witness" in a trial who ... so: adverse witness leading witness
impeachment :: n. 1) discrediting a witness by showing that he/sh ... the trial itself. See also: impeach
impute :: v. 1) to attach to a person responsibility (and th ... also. See also: vicarious liability
incompetent :: adj. 1) referring to a person who is not able to m ... n incompetency incompetent evidence
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
incriminate :: v. to make a statement in which one admits that he ... d to information which would be so.
indictment :: n. a charge of a felony (serious crime) voted by a ... ictable offense preliminary hearing
information and belief :: n. a phrase often used in legal pleadings (complai ... nswer complaint declaration perjury
insanity :: n. mental illness of such a severe nature that a p ... M'Naughten rule temporary insanity
insolvency :: n. 1) the condition of having more debts (liabilit ... the property. See also: bankruptcy
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
invasion of privacy :: n. the intrusion into the personal life of another ... randeis. See also: right to privacy
invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence
jump bail :: v. to fail to appear for a court appearance after ... also: bail bail bond bail bondsman
jurat :: (jur-at) n. Latin for "been sworn," the portion of ... wledgment declaration notary public
libel :: 1) n. to publish in print (including pictures), wr ... libel per se public figure slander
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
malpractice :: n. An act or continuing conduct of a professional ... eed. See also: errors and omissions
Massachusetts Trust :: n. a business in which the investors give manageme ... provide for eventual distribution.
Miranda warning :: n. the requirement, also called the Miranda rule, ... me such a suspect? See also: rights
monopoly :: n. a business or inter-related group of businesses ... ust laws license restraint of trade
negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort
notary public :: n. a person authorized by the state in which the p ... he state which appoints the notary.
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
own recognizance :: (O.R.) n. the basis for a judge allowing a person ... n recognizance. See also: bail O.R.
pardon :: 1) v. to use the executive power of a Governor or ... also: amnesty commutation reprieve
parole :: n. 1) the release of a convicted criminal defendan ... sed he will not take up arms again.
permit :: 1) v. to allow by silence, agreement or giving a l ... f public revenue. See also: license
personal services :: n. in contract law, the talents of a person which ... his/her unique ability and product.
probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will
property :: n. anything that is owned by a person or entity. P ... rty real property separate property
public :: 1) n. the people of the nation, state, county, dis ... lands and public and private roads.
service of process :: n. the delivery of copies of legal documents such ... by publication substituted service
sound mind and memory :: n. having an understanding of one's actions and re ... ee also: competent incompetent will
special appearance :: n. the representation by an attorney of a person i ... anged. See also: general appearance
state of domicile :: n. the state in which a person has his/her permane ... orated. See also: domicile resident
straw man :: n. 1) a person to whom title to property or a busi ... a trail will mislead hunting dogs).
tenancy in common :: n. title to property (usually real property, but i ... on. See also: joint tenancy tenancy
wrongful termination :: n. a right of an employee to sue his/her employer ... ing an employee's grounds for suit.

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - C

C.I.F. :: n. the total of cost, insurance and freight charge ... aid on goods purchased and shipped.
calendar :: 1) n. the list of cases to be called for trial bef ... clerk of the court calendars cases.
calendar call :: n. the hearing at which a case is set for trial. ... g at which a case is set for trial.
call :: n. the demand by a corporation that a stockholder ... assessment on shares already owned.
calumny :: n. the intentional and generally vicious false acc ... 's reputation. See also: defamation
cancel :: v. to cross out, annul, destroy, void and/or resci ... g, so that it cannot be used again.
cancellation :: cancel ... cancel
caning :: n. a punishment for crimes employed in certain Asi ... last century in the United States.
canon law :: n. laws and regulations over ecclesiastical (churc ... nduct with no religious connection.
cap :: n. slang for maximum, as the most interest that ca ... "adjustable rate" promissory note.
capital :: 1) n. from Latin for caput, meaning "head," the ba ... count capital assets stock in trade
capital account :: n. the record which lists all basic assets of a bu ... or the alleged value of good will.
capital assets :: n. equipment, property, and funds owned by a busin ... . See also: capital capital account
capital expenditure :: n. payment by a business for basic assets such as ... y intended to improve productivity.
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
capital investment :: capital expenditure ... capital expenditure
capital offense :: n. any criminal charge which is punishable by the ... . See also: bail capital punishment
capital punishment :: n. execution (death) for a capital offense. The U. ... or death. See also: capital offense
capital stock :: n. the original amount paid by investors into a co ... price. See also: corporation stock
capitalization :: n. 1) the act of counting anticipated earnings and ... for conversion into capital assets.