Glossary Archive

Contingency Plan for ADR Failure A Contingency Plan for ADR Failure is a strategy developed to address potential unsuccessful outcomes in Alternative Dispute Resolution (ADR) processes, such as mediation or arbitration. The purpose of this plan is to ensure that parties involved in a dispute have a predefined course of action if the ADR does...

A contingent beneficiary is an individual or entity designated to receive benefits or assets from a trust, will, or insurance policy only if certain conditions are met, typically in the event that the primary beneficiary is unable to inherit due to various reasons such as death, incapacity, or disqualification. In estate planning, a contingent beneficiary...

A Contingent Executor is an individual or entity designated to serve as the executor of a will only under certain conditions, typically when the primary executor is unable or unwilling to fulfill their duties. In estate planning, the executor plays a crucial role in managing the deceased person's estate, which includes settling debts, distributing assets,...

Contingent Fee Agreement A Contingent Fee Agreement is a type of contractual arrangement between a client and an attorney where the attorney's fees are contingent upon the outcome of a legal case. In this agreement, the attorney agrees to represent the client without upfront payment, and instead, will receive a percentage of the monetary recovery...

A contingent legacy is a type of bequest in a will that is dependent on a specific condition or event occurring before the beneficiary can receive the inheritance. Unlike a general legacy, which is an unconditional gift of property or assets, a contingent legacy requires that certain criteria must be met for the beneficiary to...

A contingent trust is a type of trust that becomes effective only upon the occurrence of a specified event or condition. This legal arrangement allows for the management and distribution of assets based on certain contingencies, which can be beneficial in scenarios where the grantor wants to ensure that the trust's benefits are distributed only...

Continuous Use Covenant A Continuous Use Covenant is a contractual agreement commonly found in real estate leases or purchase agreements that stipulates the property must be used for a specific purpose without interruption for a defined period. This type of covenant ensures that the property is actively utilized in accordance with the terms set forth...

Corporate Bylaws Corporate Bylaws are the internal rules and regulations that govern the management and operation of a corporation. They establish the framework within which a corporation operates, outlining the rights and responsibilities of shareholders, directors, and officers. Bylaws typically cover key aspects such as: Board of Directors: The structure, powers, and duties of the...

Corporate Bylaws Corporate Bylaws are the internal rules and regulations that govern the management and operation of a corporation. They are essential for establishing the framework within which a corporation operates and are typically adopted by the corporation's board of directors after the corporation is formed. Bylaws typically outline various aspects of corporate governance, including:...

Corporate Governance Corporate Governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It outlines the responsibilities and rights of various stakeholders in the organization, including shareholders, board members, management, and other parties involved in the company. Good Corporate Governance aims to increase the accountability of the...