931. Caveat Emptor
Latin for "let the buyer beware." The basic premise that the buyer buys at his/her own risk and therefore should examine and test a product himself/herself for obvious defects and imperfections.
932. Caveat
From Latin caveat for "let him beware." 1) A warning or caution. 2) A popular term used by lawyers to point out that there may be a hidden problem or defect.
933. Cause Of Action
The basis of a lawsuit founded on legal grounds and alleged facts which, if proved, would constitute all the "elements" required by statute.
934. Case System
The method of studying law generally used in American law schools, in which students read, outline, discuss and hear lectures about the cases. Each case presented stands for a particular rule of law in the subject matter covered and is contained in "casebooks" on particular topics.
935. Case Of First Impression
A case in which a question of interpretation of law is presented which has never arisen before in any reported case. Sometimes, it is only of first impression in the particular state or jurisdiction.
936. Case Law
Reported decisions of appeals courts and other courts which make new interpretations of the law and, therefore, can be cited as precedents. These interpretations are distinguished from "statutory law," which is the statutes and codes (laws) enacted by legislative bodies.
937. Case
Short for a cause of action, lawsuit, or the right to sue. It is also shorthand for the reported decisions which can be cited as precedents.
938. Cartel
1) An arrangement among supposedly independent corporations or national monopolies in the same industrial or resource development field organized to control distribution, set prices, reduce competition, and sometimes share technical expertise. Often the participants are multinational corporations which operate across numerous borders and have little or no loyalty to any home country, and great loyalty to profits.
939. Carryover
In taxation accounting, using a tax year's deductions, business losses or credits to apply to the following year's tax return to reduce the tax liability.
940. Carryback
In taxation accounting, using a current tax year's deductions, business losses or credits to re-figure and amend a previously filed tax return to reduce tax liability.