Glossary Archive

Incorporation Incorporation is the legal process by which a business entity becomes a distinct and recognized legal person, separate from its owners or shareholders. This transformation allows the business to own property, enter into contracts, and be liable for debts independently of its owners. The process typically involves filing articles of incorporation with the appropriate...

Indemnity Agreement for Commercial Properties An Indemnity Agreement for Commercial Properties is a legal contract in which one party (the indemnitor) agrees to compensate another party (the indemnitee) for certain damages or losses that may occur in relation to a commercial property. This agreement serves to protect the indemnitee from financial loss resulting from specific...

Indemnity Bond for Property Disputes An Indemnity Bond for Property Disputes is a legal agreement that provides security against potential losses or damages arising from a dispute related to property ownership or rights. This type of bond is typically executed by a party who is seeking to prove their ownership or right to possess a...

The Independent Administration of Estates is a process in probate law that allows the executor or administrator of a deceased person's estate to manage and distribute the estate’s assets without requiring continuous court supervision. This approach is often preferred for its efficiency and flexibility compared to dependent administration, where the court maintains oversight over the...

Independent Contractor Agreement An Independent Contractor Agreement is a legally binding contract between a business and an individual or entity that outlines the terms under which the independent contractor will provide services to the business. This type of agreement is crucial for defining the relationship between the parties, as it clarifies the rights, responsibilities, and...

Independent Contractor Agreement An Independent Contractor Agreement is a legal document that outlines the terms and conditions between a business (the client) and an independent contractor (the service provider) who is hired to perform specific tasks or services. This agreement establishes the relationship between the two parties, clarifying their responsibilities, rights, and obligations. The Independent...

Independent Director Clause An Independent Director Clause is a provision typically found in corporate bylaws or shareholder agreements that specifies certain requirements and qualifications for directors serving on a corporate board. The purpose of this clause is to ensure that a portion of the board consists of independent directors—those who do not have a material...

An Independent Executor is an individual or entity appointed in a will to administer the estate of a deceased person without court supervision. This role is designated to streamline the probate process, allowing the executor to make decisions related to the estate independently, as long as they adhere to the terms of the will and...

Independent Mediator An Independent Mediator is a neutral third party who facilitates negotiations and discussions between disputing parties to help them reach a mutually acceptable agreement. Unlike arbitrators or judges, an independent mediator does not have the authority to impose a decision; rather, their role is to assist in communication, clarify issues, and promote understanding...

Independent Probate Independent probate is a process that allows the executor or personal representative of a deceased person's estate to administer the estate without court supervision, provided that certain requirements and conditions are met. This approach to probate is often preferred due to its efficiency and the reduced level of court involvement, which can lead...