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BUSINESS LAW GLOSSARY |
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Glossary of Business
Law Terms
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the first letter of the word from the list above to go to
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Occupational Disease: An illness resulting
from long term employment in a particular type of work, such as those employees
exposed to asbestos, who later develop cancer.
Occupational Safety & Health
Administration (OSHA): The federal agency charged with creating and
enforcing workplace health and safety standards.
Officer: The managers of a corporation
such as the President, CFO, and Secretary. The officers are appointed by the
board of directors.
Offshore Corporation: A corporation
chartered under the laws of a country other than the United States. Some
countries (particularly in the Caribbean) are popular nations of incorporation
since they have little corporate regulation or taxes.
Opinion: An explanation written by the
judge explaining his decision.
Ordinance: A law passed by a local or
municipal government.
Ordinary Course of Business: Conduct of
business within normal commercial customs and usages.
Original Jurisdiction: The first court to
which a legal dispute is referred.
Outside Director: A independent member of
the board of directors that is not a shareholder or regular employee of a
corporation.
Overrule: In a trial, to overrule means to
reject an objection.
Overtime Compensation: A higher rate of
pay (usually 1.5 or 2 times the regular hourly rate) an employer is obligated to
pay employees who work more than a certain number of hours in a day or week.
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and is not meant to be a restatement of any rules of law. Your
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Injury Law
Glossary.
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