Latin for Lawyers

L ATIN FOR L AWYERS

upon the other at the election of the latter. The privilege or right of one party, supported by consideration, to insist, at his election, upon the right to buy or sell an asset or commodity from or to another party. An offer which meets the requirements for the formation of a contract and limits the offeror’s power to revoke his offer. Restatement of Contracts, Second, § 25. In insurance law, the right of an insured to select the method for payment of benefits accruing under a policy. In the stock and commodities markets, options fall into sev eral categories: call options; futures options; put options ; etc. OPUS [L. opus , opera / work, labor] A product of work or effort. A literary or musical work. ORAL [L. os / the mouth; orare / to speak] Uttered by the mouth; the spoken word, as distinguished from the written word. An oral confession is an unwritten confession to commission of a crime; it will be admitted as evidence only if it satisfies certain conditions. An oral contract is an agreement which is either entirely or partly expressed in and dependent upon the spoken word. The Statute of Frauds prevents the enforcement of certain kinds of oral agreements unless they are evidenced by a written memorandum signed by the party to be charged. See PAROL; STATUTE OF FRAUDS ORDAIN [L. ordino, ordinare / to put in order, to arrange] To establish by statute, order or decree; to enact a law, to issue a decree. Also, to appoint to an ecclesiastical order or office. ORDER [L. ordo / a series in a row; a straight line; ordinare / to put in order, arrange] An established method incorporating a system of control or management. A state of tranquility or obedience. A social or political condition based on respect for law and authority ( law and order ). The announced requirements of a superior authority. A ruling or command issued by a competent authority or tribunal. Courts issue many different kinds of orders. Examples: a cease and desist order , requiring the cessation of a specific act or conduct; an order to show cause , requiring the person receiving the order to present a compel ling reason for the court not to take some designated action; a gag order , clos ing off any discussion by the parties affected of any facts or information relating to a particular case. In the law of negotiable instruments, order is a term of art defining the person(s) who are entitled to payment of an instru ment. ORDER NISI See NISI

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