Glossary of Legal Terms – F
Failure of consideration: The inabi;ity or refusal of a contracting party to perform its side of a bargain.
Failure of issue: A situation in which a person dies without children who could have inherited his or her property.
Fair use rule: A law that authorizes the use of copyrighted materials for certain purposes without the copyright owner’s permission. Generally, uses intended to further scholarship, education or an informed public are considered fair use.
False arrest or imprisonment: To intentionally restrain another person without the right to do so.
Fee Simple: Full ownership rights in a piece of real estate.
Felony: Crime of a serious nature ie, rape, arson, murder
Fiduciary: Institution or a person (such as a bank or executor) that is duty bound to act for the benefit of another person because it, he or she is in a position of trust or confidence.
Filing: To give legal documentation to the clerk of the court to be placed in the appropriate court records or stamped ‘received’ and sent for review oraction by other court personnel.
Fixture: Anything attached to a house or land which is considered a part of the property.
Foreclose: Termination of rights in a mortgage by taking and selling the property to pay the debt.
Forfeit: To lose or give up something as a penalty for a crime, for breach of a contract or neglect of a duty.
Forgery: Crime of altering a genuine document or making a false document with the intent to defraud someone.
Franchise: License to sell a specific product or brand, or own and operate a branch of a particular business.
Fraud: Crime of intentional misrepresentation of something fro personal gain or to harm someone.
Fraudulent: Deliberately false or misleading.