Civil rights law strikes at the balance of governmental power and individual liberties. Contract law is a body of law that governs, enforces, and interprets agreements related to an exchange of goods, services, properties, or money. The 2nd edition has over 15K legal terms for your business and research use. Are Legal Rights Conceptually Related to Other Types of Rights? Definition: The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. In simple terms, consideration is the basic reason a party enters into a legal contract. “Qualified immunity balances two important interests—the need to hold public officials accountable when they exercise power irresponsibly and the need to shield officials from harassment, distraction, and liability when they perform their duties reasonably.” Hohfeld (1919), for example, confined his discussion entirely to legal rights and never mentioned moral ones. The term was coined by the English philosopher Jeremy Bentham (1748–1832). Although this is a small and competitive field, many lawyers whose main practices are in other fields serve as civil rights lawyers by taking cases on a pro bono (without a charge or a fee) basis. Learn more about international law in this article. A legal remedy, also referred to as judicial relief or a judicial remedy, is the means with which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes another court order to impose its will in order to compensate for the harm of a wrongful act inflicted upon an individual.. Common law is a body of unwritten laws based on legal precedents and will often guide court judgments and rulings when the outcome cannot be … International law, the body of legal rules, norms, and standards that apply between sovereign states and other entities that are legally recognized as international actors. Search more than 10,000 legal words and phrases for clear definitions written in plain language. Consideration meaning in law. An easy-to-understand guide to the language of law from the dictionary experts at Merriam-Webster. Description: Law of demand explains consumer choice behavior when the price changes. 1. Learn more about the various systems, institutions, and fields of law in the entries mentioned in this article. Qualified immunity is a type of legal immunity. The position of many important writers on legal rights is difficult to ascertain on this point, because it is not one they addressed directly. The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party. A valid contract must include consideration for every party involved. In the legal system, the term consideration in contract law refers to something of value given to someone in return for goods, services, or some other promise. 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