Glossary

Here at Adams Law, we hope you’ll understand some of the terms used on our website are law industry specific. Due to the nature of our industry, we have provided a simplified explanation of some key terms that we hope can help you to better understand these terms… 

Collateral: An amount of money, possessions or property put down to help secure the repayment of a loan or debt. If a person cannot pay back the amount they owe, the pledged property is taken away.

Compensation order: This is when a convicted offender is ordered by the court to pay back money that would compensate for the damages endured by the victim, whether that be personal injury, damages to property or distress caused directly or indirectly by the offender’s actions.

Conveyance: This term refers to a written document which details the exchange / transfer of a property from one person to another. The actual process is generally called “ conveyancing”

Litigation: Litigation is any lawsuit commenced in a court of law. Whilst most cases are settled before a formal court hearing ( “trial” ) ultimately in the absence of an agreement  the court must decide the outcome

Mediation: Mediation is an alternative to litigation and is the attempt to settle a legal disagreement without the use of a court. A third-party member ( a mediator) seeks to identify the points of agreement and help both parties decide upon a fair result.

Power of attorney: This is a document signed by one individual which gives another chosen person the right to act on their behalf, if the former becomes unable to manage their affairs. The person who receives the power of attorney can then make decisions relating to business, property, finances, contracts and other personal accounts.

Probate: This is the process which someone goes through to prove that a person’s will is valid and that the estate of that individual is divided up accordingly.

Rent arrears: This term refers to the amount of money not paid to a landlord punctually. This can include money owed by former tenants who have since been evicted or moved out, as well as money owed by existing tenants.

Restrictive covenant: A term used to place inhibitions on the use of property / land usually for the benefit of the land sold or adjoining land e.g  not to use a house for commercial purposes .

Settlement Agreement (formerly called “Compromise agreement”) : This is a type of contract which is used between an employer and its employee (or former employee) when there has been a breach in statutory obligation by the employer. This agreement is signed by the employee and states that they will take no further action against their employer in exchange for a negotiated sum of money.