Legal Definitions: Letter C

Capital Gain / Loss: the profit or loss, as the case may be, from the sale of an asset – such as your home. Ordinarily, but not always, capital gain will be taxed

Cause of Action: a specific claim for which a plaintiff seeks compensation

Caveat Emptor: Latin meaning “buyer beware”, idea that the buyer is taking full responsibility for the conditions and terms before purchasing

Certified Copy: also known as “certified true copy”, this is a document signed as being a true copy of the original

Certify: to testify in writing

Class Action Lawsuit: is where two or more plaintiffs bring a case against another

Conflict of Interest: when an individual or organization has interests that might compromise their reliability

Consideration: is the thing, usually money, which you pay, under a contract, in exchange for getting something else

Contract: is a legal agreement entered into between two or more persons, known as “parties to the contract”, whereby an offer is made and accepted

Counsel: A lawyer or attornel also known as legal representative

Creditor: a person that you owe money

These terms are brought to you by the Atlanta Accident Attorneys.