Plenary authority refers to the complete or absolute power that is wide-ranging, broadly construed, and often limitless regarding a specific issue. When an individual is granted plenary authority, they have full discretion and decision-making...
business law
poison pill
A poison pill is a corporation’s defensive strategy used against a hostile takeover. When a hostile takeover tries to merge a target company by buying its stocks publicly or privately, the target company could issue preferred stocks that will...
Ponzi scheme
Ponzi schemes are a type of investment fraud in which investors are promised artificially high rates of return with little or no risk. Original investors and the perpetrators of the fraud are paid off by funds from later investors, but there...
post-effective period
Post-effective period is the stage in the initial public offering (IPO) process after the Securities and Exchange Commission (SEC) declares the issuer’s registration statement effective. Section 5 of the Securities Act and SEC regulations...
power of acceptance
Power of acceptance refers to the ability of one person to accept another person’s offer that is legally binding. The issue of power of acceptance arises most in contract law when disagreements arise over whether a contract offer actually was...
power of attorney
A power of attorney is an agreement between two parties: a principal and an attorney in fact. The attorney in fact need not be an attorney at law (a lawyer). A power of attorney gives the attorney in fact rights to act in the principal's...
practice
Practice can have many distinct meanings and usages.
Practice is the work a professional does, especially when a license is required to do the work.
A medical doctor conducts the practice of medicine when they...pre-existing duty doctrine
The pre-existing duty doctrine is a principle under contract law where if a party to a contract does what they are already obligated to do in exchange for a modification of the contract, the modification will be voidable. Since the party is...
pre-filing period
The pre-filing period is the stage in the initial public offering (IPO) process prior to when the issuer files their registration statement. Also referred to as the quiet period. Section 5 of the Securities Act and Securities and Exchange...
predatory pricing
Below-cost pricing intended to eliminate specific competitors and reduce overall competition.
See Antitrust for more information.