Simple English definitions for legal terms
Read a random definition: abstract compromis
Whole Law: The law used by a court in a case that involves multiple states or countries. The court will use its own rules to decide which law to apply.
Whole Life Insurance: A type of life insurance.
Wholesale: Selling goods or products to a retailer, not to the end consumer.
Definition: The law applied by a court in a case involving multiple states or countries after referring to its own choice-of-law rules.
Example: If a person from New York gets into a car accident while driving in California, the court will apply the whole law to determine which state's laws should be used to resolve the case.
This example illustrates how the whole law is used to determine which state's laws should be applied in a case involving multiple states. The court will use its own choice-of-law rules to make this determination.
Definition: The sale of goods or commodities usually to a retailer for resale, and not to the ultimate consumer.
Example: A clothing manufacturer sells a large quantity of shirts to a retail store at a discounted price. The retail store then sells the shirts to individual customers at a higher price.
This example illustrates how wholesale works. The manufacturer sells a large quantity of shirts to the retail store, which then sells them to individual customers at a higher price. The manufacturer benefits from selling a large quantity at once, while the retail store benefits from being able to sell the shirts at a profit.