Book Opener

codicil Formal document used to supplement orchange an existing will. It must be signed andwitnessed to be valid. (p. 781)coinsurance Provision in an insurance policy thatlimits your recovery for a loss if the property is notinsured for its full replacement value. (p. 763)collateral Something of value you use to obtain asecured loan. The creditor obtains an interest in thisitem and can secure payment with it if you do notpay the loan. (p. 485)collective bargaining agreement Contract negotiationsbetween the employer and representativesof the labor union covering issues related toemployment. (p. 434)collision insurance Insurance that covers damage to avehicle when it is in an accident, regardless of whowas at fault. (p. 353)commerce clause Clause in the U.S. Constitution thatstates that the United States Congress has the powerto regulate commerce “among several states.”(p. 647)common carrier Carrier that is compensated for providingtransportation to the general public. (p. 376)common law Decisions of the early law courts developedin England, based on customs. They are characterizedby the practice of deciding cases onprecedent. (p. 17)common-law marriage Informal type of marriage inwhich the parties agree either in writing or orallythat they are married and live as man and wife.(p. 681)common stock Basic form of corporate ownership.(p. 614)comparative negligence The process by which thenegligence of each party is compared and theamount of the plaintiff’s recovery is reduced bythe percent of his or her negligence. (p. 92)compassion Sympathy towards the difficulties ofothers. (p. 11)competitive bidding The process by which rivalssubmit bids for a project. (p. 197)complaint Formal papers filed with the court by theplaintiff and defendant that express the plaintiff’sallegations, or claims. (p. 36)complete performance When all the terms of a contracthave been carried out properly and completely.(p. 224)comprehensive insurance Insurance that covers damagesto a vehicle from sources other than collision,including fire, theft, lightning, flood, hail, windstorm,riot, and vandalism. (p. 354)computer crime Crimes committed through the useof computers. (p. 71)concealment Occurs when an individual makes afalse representation by choosing not to revealimportant information. (p. 129)conditional indorsement Type of restrictive indorsementthat makes the rights of the indorsee subjectto a specific event or condition. (p. 548)condominium Form of home ownership in whicheach owner has absolute individual interest in anapartment unit and an undivided common interestin the common areas of the building. (p. 735)consanguinity State of being related by blood.(p. 679)consequential damages Losses that do not flowdirectly from an act but only from some of theconsequences or results of the act. (p. 305)consideration The exchange of things of value.(p. 109); The exchange of benefits and detrimentsby parties to an agreement. (p. 164)conspiracy Agreement to commit a crime for a promisedconsideration. (p. 186)Constitution Document that spells out the principlesby which the government operates. (p. 14)constructive eviction Occurs when a landlordbreaches a duty under the lease. (p. 723)consumer Someone who buys or leases goods, realestate, or services for personal, family, or householdpurposes. (p. 316)contract Any agreement enforceable by law. (p. 106)contract to sell Agreement that involves the immediatesale of goods. (p. 268)contributory negligence Behavior by the plaintiffthat helps cause his or her injuries. (p. 91)Glossary 817