Glossary of Terms

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Glossary of Terms

A

ABANDONED PROPERTY

Personal property that has been deliberately put aside by the rightful owner with no intention of ever returning for it.

ACCEPTANCE

Unconditional agreement to the precise terms and conditions of an offer.

ACTUARY

A mathematician or statistician who computes insurance risks and establishes premium rates.

ADHESION CONTRACT

A contract whose terms were not truly negotiated or bargained and, as a result, may be so one-sided in favor of the stronger party so that the contract is often deemed unenforceable by the courts.

AFFIRMATIVE ACTION

A Federally mandated requirement that employers who meet certain criteria must actively seek to fairly employ recognized classes of workers. (Some state and local legislatures have also enacted Affirmative Action requirements.)

AGENT

A person authorized to act for or to represent another, usually referred to as the principal.

AGGREGATE

The maximum amount which can or will be paid by an insurer for all claims during a policy period.

AMERICANS WITH DISABILITIES ACT

Federal legislation (law) that protects the rights of people with disabilities so that they may be treated fairly in the workplace and have access to places of public accommodation, such as hotels, restaurants, and airplanes.

AMUSEMENT PARK

An entertainment facility featuring rides, games, food, and sometimes shows. Theme parks have rides, attractions, shows, and buildings that revolve around a central theme or group of themes. Examples include the Disney- and Universal Studios- owned amusement parks.

ANNUITY

Fixed payments, made on a regular basis, for an agreed upon period of time or until the death of the recipient.

APPEAL

A written request to a higher court to modify or reverse the decision of a lower level court.

ARBITRATION

A process in which an agreed upon, independent, neutral third party (the arbitrator), renders a final and binding resolution to a dispute. The decision of the arbitrator is known as the “award”.

ATTORNEY

Any person trained and legally authorized to act on behalf of others in matters of the law.

ATTRITION

Reduction in the number of projected participants or attendees.

AT-WILL EMPLOYMENT

An employment relationship where the employer has a right to hire any employee, whenever they chose; and to dismiss an employee for or without cause, at any time; and the employee also has the right to work for the employer or not; or to terminate the relationship at any time.

B

BAILEE

A person or entity who receives and holds property in a bailment arrangement.

BAILMENT

The delivery of an item of property, for some purpose, with the expressed or implied understanding that the person receiving it shall return it in the same or similar condition in which it was received, when the purpose has been completed. Examples include, coat checks, valet parking, safety deposit boxes, laundry, luggage storage and delivery.

BAILOR

A person or entity who gives property to another in a bailment arrangement.

BILL OF SALE

A document under which personal property is transferred from a seller to a buyer.

BLOOD ALCOHOL CONCENTRATION (BAC)

A measurement, expressed in a percentage, of the concentration level of alcohol in the blood- stream. Also known as “blood alcohol content” or “blood alcohol level” (BAL).

BONA FIDE OCCUPATIONAL QUALIFICATION

A job qualification, established in good faith and fairness, which is necessary in order to safely or adequately perform the job.

BOND(ING)

An insurance agreement in which the insurer guarantees payment to an employer in the event of financial loss caused by the actions of a specific employee.

BREACH OF CONTRACT

Failure to keep the promises or agreements of a contract.

C

CAPITAL IMPROVEMENT

The purchase or upgrade of real or personal property which results in an increased depreciable asset base.

CAVEAT EMPTOR

A Latin phrase meaning; “Let the buyer beware”. The phrase implies that the burden of determining the relative quality and price of a product falls to the buyer, not the seller.

CHATTEL

Personal property, movable or immovable, which is not considered real property.

CIVIL LAW

The body of law (usually in the form of codes or statutes) created by governmental entities that are concerned with private rights and remedies as opposed to criminal matters.

CLAIM

Demand for money, property, or repairs to property.

COLLATERAL

Property which is pledged to secure the repayment of a debt.

COLLECTIVE BARGAINING AGREEMENT (CBA)

A formal contract between an employer and a group of employees that establishes the rights and responsibilities of both parties in their employment relationship.

COMMERCIAL LEASE

A lease that applies to business property.

COMMON CARRIER

A company or individual that is in the regular business of transporting people and/or freight for a fee. Examples include airlines, cruise lines, trains, and buses.

COMMON LAW

Laws derived from historical customs and usage of a society and the decisions by courts when interpreting those customs and usages.

COMPARATIVE NEGLIGENCE

Shared responsibility for the harm that results from negligence comparing the degree of negligence by the defendant with that of the plaintiff. Also known as comparative fault.

COMPENSATORY DAMAGES

Monetary amount awarded to restore an injured party to the position he or she was in prior to the injury (e.g., medical expenses, lost wages); also referred to as actual damages.

CONDOMINIUM

A multiple-unit complex (i.e., hotel, apartment house, office building), the units of which are individually owned with each owner receiving a recordable deed to the individual unit purchased, including the right to sell that unit and sharing in joint ownership of all common grounds, hallways, and on-site facilities.

CONDOMINIUM HOMEOWNERS' ASSOCIATION (CHOA)

A group of condo owners elected   by all of the condo owners in a project to interpret, develop, and implement the policies and procedures required to effectively manage their condominium complex.

CONFERENCE SERVICE CONTRACT

An agreement that details the space, products, and services to be provided to a group before, during, and after its meeting.

CONFIRMED RESERVATION

A contract to provide a reservation in which the provider guarantees the guest’s reservation will be honored until a mutually agreeable time. A confirmed reservation may be either guaranteed or non-guaranteed.

CONSIDERATION

The payment/value exchanged for the promise(s) contained in a contract.

CONTINGENCY FEE

A method of paying for a civil attorney’s services where the attorney receives a percentage of any money awarded as a settlement in the case. Typically, these fees range from 20-40% of the total amount awarded.

CONTRACT

An agreement or promise made between two or more parties, that the courts will enforce.

CONTRIBUTORY NEGLIGENCE

Negligent conduct by the complaining party (plaintiff) that contributes to the cause of his or her injuries.

COPYRIGHT

The legal and exclusive right to copy or reproduce intellectual property.

COPYRIGHT OWNER

A person or entity that legally holds a right to intellectual property under the copyright laws.

CORPORATION

A group of individuals granted a charter, legally recognizing them as a separate entity with rights and liabilities distinct from those of its individual owners.

COUNTEROFFER

Conditional agreement to the terms and conditions of an offer that includes a change to those terms, creating a new offer.

COURSE AND SCOPE

The sum total of all common, job-related employee activities dictated or allowed by the employer.

CRISIS

An occurrence that holds the potential to jeopardize the health of individuals and or the business.

CUT-OFF DATE

The date on which any rooms contracted, and thus held for sale, but not yet picked up (reserved) by the group are returned to the hotel’s general rooms’ inventory.

D

DAMAGES

Losses or costs incurred due to another’s wrongful act.

DEDUCTIBLE

The amount of money the insured has to pay first before the insurance coverage will begin to pay. Accordingly, the higher the deductible the less risk to the insurance company; should equal lower premiums.

DEED

A written document for the transfer of land or other real property from one person to another.

DEED OF TRUST

Used in some states instead of a mortgage. A deed of trust places legal title to a real property in the hands of a trustee until the debtor has completed paying for the property. Some states use names such as trust deed or deed to secure debt for securing a loan.

DEFAMATION

False statements that cause someone to be held in contempt, lowered in the estimation of the community, or to lose employment status or earnings or otherwise suffer a damaged reputation.

DEFENDANT

The person or entity against whom litigation is initiated. Sometimes also referred to as the respondent.

DEMAND LETTER

Official notification, typically delivered to a defendant via registered or certified mail usually in advance of litigation that details the plaintiff’s cause for impending litigation to seek a settlement between the parties.

DEPOSITION

Oral answers, given under oath, to questions asked during the discovery phase of a lawsuit. Depositions are recorded by a certified court reporter and/or by videotape.

DEPRECIATION

The decrease in value of a piece of property due to age and/or wear and tear.

DEPRESSANT

A substance that lowers the rate of vital body activities.

DETAINED PROPERTY

Personal property held by a bailee until lawful payment is made by the bailor.

DISCLOSURE

To reveal fully and honestly.

DIVIDEND

A portion of profits received by a shareholder, usually in relation to his or her ownership of a corporation.

DRAM SHOP

A name given to a variety of state laws establishing a liquor licensee’s third party liability.

DRAM SHOP ACTS

Legislation, passed in a variety of forms and in many states, that imposes liability for the acts of others on those who serve alcohol negligently, recklessly, or illegally.

DUTY OF CARE

A legal obligation that requires a particular standard of conduct.

E

EMERGENCY PLAN

A procedure or series of procedures implemented in response to a crisis.

EMPLOYEE

An individual who is hired to provide services to an employer in exchange for wages or a salary.

EMPLOYEE EVALUATION

A review of an employee’s performance, including strengths and shortcomings; typically completed by the employee’s direct supervisor.

EMPLOYEE MANUAL

A document written to detail the policies, benefits, and employment practices of an employer.

EMPLOYER

An individual or entity that pays wages or a salary in exchange for a worker’s services.

EMPLOYMENT AGREEMENT

The terms of the employment relationship between an employer and employee that specifies the rights and obligations of each party to the agreement.

ENFORCEABLE CONTRACT

A contract recognized as valid by the courts.

ETHICS

Choices of proper conduct made by an individual in his or her relationships with others.

EVICTION

The procedure that a lessor uses to remove a lessee from physical possession of leased real property, usually for violation of a significant lease provision, such as nonpayment of rent.

EXCEPTIONS

Insurance coverage that is normally included in the insurance policy, but which will be excluded if the insured fails to comply with performance terms specifically mentioned in the policy.

EXCLUSIONS

Liability claims that are not covered in an insurance policy.

EXCULPATORY CLAUSE OR CONTRACT

A contract (or a clause in a contract) that releases one of the parties from liability for their wrongdoings.

EXPRESS CONTRACT

A contract in which the components of the agreement are explicitly stated, either orally or written.

F

FACE SHEET

A one-page document briefly describing the type and amount of insurance coverage contained in an insurance policy. Sometimes referred to as a “declaration page”.

FIDUCIARY

A relationship based on trust and the responsibility to act in the best interest of another when performing tasks.

FIDUCIARY RESPONSIBILITY

The requirement that agents act in the best interest of their principals.

FINANCING STATEMENT

A formal notice of a lien being held on personal property, required under the Uniform Commercial Code in most cases. Also called a ‘UCC-1′ because of its form number in the UCC.

FIXTURE

An article which was once a chattel but which has now become a part of the real property because the article is permanently attached to the soil or to something attached to the soil.

FOODBORNE ILLNESS

Sickness or harm caused by the consumption of unsafe foods or beverages.

FORCE MAJEURE

Greater force; a natural or human-induced disaster through no fault  of the parties to the contract that causes a contract to not be performed.

FORESEEABILITY

The ability of a reasonable, prudent person to know or reasonably anticipate that harm, damage, or injury would occur or was likely to occur as a result of an action or omission.

FORUM (VENUE) SELECTION CLAUSE

A statement in a contract identifying the agreed-on tribunal for resolving legal disputes related to the contract’s terms.

FRACTIONAL OWENERSHIP

A purchase arrangement in which a condominium owner purchases the use of his or her unit for a portion (fraction) of a year. The fraction may be defined in terms of the number of days per year (e.g., 30,60) or very specific days and/or months (e.g., January 1 through March 31). Individual units purchased under such an arrangement are commonly known as fractionals.

FRANCHISE

A contract between a parent company (franchisor) and an operating company (franchisee) to allow the franchisee to run a business with the brand name of the parent company, so long as the terms of the contract concerning methods of operation are followed.

FRANCHISEE

The person or business that has purchased and/or received the franchise.

FRANCHISOR

The person or business that has sold and/or granted the franchise.

G

GAMING

Legalized gambling.

GARNISH

A court-ordered method of debt collection in which a portion of a person’s salary is paid to a creditor.

GENERAL (OR MANAGING) PARTNER

The entity in a limited partnership relationship who makes the management decisions and can be held responsible for all debts and legal claims against the business.

GENERAL PARTNERSHIP

A business organization in which two or more owners agree to share the profits of the business but are also jointly and severally liable for its debts.

GLOBAL DISTRIBUTION CENTER

An inter- connected computer system that connects travel professionals worldwide to those companies selling travel services.

GRATUITOUS BAILMENT

One in which there is no payment (consideration) in exchange for the promise to hold the property.

GROSS NEGLIGENCE

The reckless or willful failure to use even the slightest amount of reasonable care.

GUARANTEED RESERVATION

A contract to provide a confirmed reservation in which the provider guarantees the guest’s reservation will be honored regardless of time of arrival, but the guest will be charged if he or she no-shows the reservation. Pre-payment or payment authorization is required.

GUEST

A customer who lawfully utilizes a facility’s food, beverage, lodging, or entertainment services.

H

HOSPITALITY LAW

Those laws which relate to the industry involved with the provision of food, lodging, travel and entertainment services to its guests and clients.

I

IMPLIED WARRANTY

An unwritten expectation that a product purchased is free of defects.

IMPROVEMENTS

An addition to real estate that ordinarily enhances its value.

INDEMNIFICATION

To insure against possible liability and loss, and/or to compensate financially for losses incurred; to make one whole; to reimburse for a loss already incurred.

INDEPENDENT CONTRACTOR

A person or entity that contracts with another to perform a particular task; but whose work is not directed or controlled by the hiring party

INFRA HOSPITIUM

A Latin term meaning “within the hotel”.

IN-HOUSE DISPUTE RESOLUTION

A program, funded by employers, that encourages the equitable settlement of an employee’s claim of unfair employment, prior to or without resorting to litigation.

INSURE (INSURANCE)

To protect from risk.

INSURED

The individual or business that purchases insurance against a risk.

INSURER

The entity that provides insurance.

INTANGIBLE PROPERTY

Personal property that cannot be held or touched. Examples include patent rights, copyrights, and concept rights.

INTELLECTUAL PROPERTY

Personal property that has been created through the intellectual efforts of its original owner.

INTENTIONAL ACT

A willful action undertaken with or without full understanding of its consequences.

INTERDICTION PROGRAMS

An arrangement whereby citizens contact police to report suspected criminal activity before a crime is committed.

INTERROGATORIES

Questions which require written answers, given under oath, asked during the discovery phase of a lawsuit.

INTERSTATE COMMERCE

Commercial trading or the transportation of persons or property between or among states.

INTOXICATION

A condition in which an individual’s BAC reaches legally established levels. These levels are not uniform across the United States. An intoxicated person may not sell or purchase alcohol, nor operate a motor vehicle.

INVITEE

An individual who is on a property at the expressed or implied consent of the owner.

J

JOB DESCRIPTION

A written, itemized listing of a specific job’s basic responsibilities and reporting relationships.

JOB QUALIFICATION

The knowledge or skill(s) required to perform the responsibilities and tasks listed in a job description.

JURISDICTION

The authority given by law or treaty to a court to try cases and make decisions about legal matters within a particular geo- graphic area and/or over certain types of cases.

L

LANDLORD

The lessor in a real property lease.

LAW

The rules of conduct and responsibility established and enforced by a society.

LEASE

A contract which establishes the rights and obligations of each party with respect to property owned by one entity but occupied or used by another.

LESSOR

The entity that owns the property covered in a lease.

LIABLE

To be legally responsible or obligated.

LICENSE

Legal permission to do a certain thing or operate in a certain way.

LICENSEE

One who is granted a license.

LICENSE AGREEMENT

A legal document, which details the specifics of a license.

LICENSOR

One who grants a license.

LIEN

A claim against property that gives the creditor (lienholder) the right to repossess and/or sell that property if the debtor does not repay their debt in a timely manner.

LIMITED LIABILITY COMPANY (L.L.C.)

A type of business organization that protects the owners from liability for debts incurred by the business, without the need for some of the formal incorporation requirements. The federal government does not tax the profits of L.L.C.’s, however, some states do while others do not.

LIMITED PARTNER

The entity in a Limited Partnership relationship who is liable only to the extent of his (or her) investment. Limited Partners have no right to manage the partnership.

LIMITED PARTNERSHIP

A business organization with two classes of owners. The Limited Partner invests in the business, but may not exercise control over its operation, in return for protection from liability. The Managing Partner assumes full control of the business operation, but can also be held liable for any debts the operation incurs.

LIQUOR LICENSE

A permit issued by a state that allows for the sale and/ or service of alcoholic beverages. The entity holding the license is known as the licensee.

LITIGATION

The act of initiating and carrying on a lawsuit. Often used to refer to the lawsuit itself.

LOST PROPERTY

Personal property that has been inadvertently put aside and then forgotten by the rightful owner.

M

MANAGEMENT AGREEMENT

The legal agreement that defines the responsibilities of a business owner and the management company chosen to operate the owner’s business. Also known as a management contract.

MANAGEMENT COMPANY

An entity that, for a fee, assumes responsibility for the day-to-day operation of a business.

MANAGEMENT CONTRACT

The legal agreement that defines the responsibilities of a business owner and the management company chosen to operate the owner’s business.

MARITIME LAW

Also called “admiralty law” or “the law of admiralty,” the laws, regulations, international agreements, and treaties that govern activities in navigable waters

MASTER BILL

A single folio (bill) established for a group that includes specifically agreed-on group charges. Sometimes called a “master folio,” “group folio,” or “group bill.”

MEDIATION

A process in which an appointed, neutral third party (the mediator), assists those involved in a dispute with resolving their own differences. The result of mediation, when successful, is known as the “settlement”.

MEDICAL TOURISM

The travel by patients who are residents of one country or region to another country or region for the purpose of obtaining health care benefits and general medical treatments.

MEETING PLANNERS

A group of professionals that plan and organize meetings and events for their employers and clients.

MERCHANTABLE

Suitable for buying and selling.

MINIMUM WAGE

The lowest amount of wages that an employee covered by the FLSA or state law may be paid by his or her employer.

MISLAID PROPERTY

Personal property that has been put aside on purpose, but then forgotten by the rightful owner.

MORTGAGE

The pledging of real property by a debtor to a creditor to secure payment of a debt incurred to purchase the property.

N

NEGLIGENCE PER SE

Violation of a rule of law by the operator; such violation of a rule of law is considered to be so far outside the scope of reasonable behavior that the violator is assumed to be negligent.

NEGLIGENT (NEGLIGENCE)

The failure to use reasonable care.

NEGLIGENT HIRING

Failure on the part of an employer to exercise reasonable care in the selection of employees.

NEGLIGENT RETENTION

Failure to terminate an employee after the employer becomes aware that an employee is a danger or threat to others and is unsuitable for the job.

NON-DISTURBANCE CLAUSE

A clause in a contract that stipulates that leases or other ownership investments in the property will be allowed to continue uninterrupted in the event of a default or insolvency by the landlord/seller.

NON-GUARANTEED RESERVATION

A contract to provide a confirmed reservation where no pre-payment or authorization is required.

O

OFF THE RECORD

An oral agreement between a reporter and an interviewee wherein the reporter promises not to quote the interviewee’s comments for publication.

OFFER

A proposal to perform an act or pay an amount which, if accepted, constitutes a legally valid contract.

OMBUDSPERSON

A company official, appointed to investigate and resolve worker complaints.

OPERATING AGREEMENT

A contract that details the areas of responsibilities of the owner of a business and the entity selected by the owner to operate the business. Also referred to as a “management contract.”

OPERATING STRUCTURE

The relationship between a business’s ownership and its management.

ORGANIZATIONAL STRUCTURE

The legal entity that owns a business.

OVERSTAY

A guest who refuses to vacate his or her room when he or she has exceeded the number of nights originally agreed to at check- in; also known as a “hangover.”

OWNER OPERATOR

A type of operating structure in which the owners of a business are directly responsible for its day-to-day operation. Also known, in some cases, as an “independent.”

P

PATENT

A grant issued by a governmental entity ensuring an inventor the right to exclusive production and sale of his or her invention for a fixed period of time.

PERFECT A LIEN

To make a public record of a lien, or to take possession of the collateral.

PER OCCURRENCE

The maximum amount which can or will be paid by an insurer in the event of a single claim.

PERSONAL INJURY

Damage or harm inflicted upon the body, mind or emotions.

PERSONAL PROPERTY

Tangible and intangible items that are not real property.

PLAINTIFF

The person or entity who initiates litigation against another, sometimes also referred to as the claimant, petitioner, or applicant.

POLICY (INSURANCE)

The contract for insurance agreed upon by an insurer and an insured.

POST-TRAUMATIC STRESS DISORDER

A severe reaction to an event that threatened an individual’s physical or emotional health.

PREMIUM

The amount paid for insurance coverage; can be paid in one lump sum or over time, such as monthly.

PRESS RELEASE

An announcement made by an organization or individual distributed for use by the media.

PRIMARY POLICY

The main insurance policy that provides basic coverage.

PRINCIPAL

Employer, the person hiring and directing employees (agents) to perform his, her, or its business.

PROGRESSIVE DISCIPLINE

An employee development process that provides increasingly severe consequences for continued violation of workplace rules.

PROXIMATE CAUSE

The event or activity that directly contributes to (causes), the injury or harm.

PUBLIC ACCOMMODATION

A facility that provides entertainment, rooms, space or seating for the use and benefit of the general public

PUBLIC DOMAIN

Property which is owned by all citizens, not an individual.

PUNITIVE DAMAGES

A monetary amount used as punishment and to deter the same wrongful act in the future by the defendant and others.

Q

QUID PRO QUO

Latin term for, “Giving one thing in return or exchange for another.”

QUITCLAIM DEED

A quitclaim deed conveys only such rights as the grantor has. This type of deed transfers the owner’s interest to a buyer, but does not guarantee that there are no other claims against the property, or that the property is indeed legally owned by the seller.

R

REAL ESTATE

Land, including soil and water, buildings, trees, crops, improvements, and the rights to the air above, and the minerals below, the land.

REAL PROPERTY

Land and all the things that are permanently attached to it.

REASONABLE CARE

The degree of care that a reasonably prudent person would use in a similar situation.

REIT

Short for “real estate investment trust,” a very special form of business structure in which the owners of a business are generally prohibited from operating it.

RESPONDEAT SUPERIOR

literally; “Let the Master Respond”, A legal theory that holds the employer (master) responsible for the acts of the employee.

RIGHT OF FIRST REFUSAL

A clause in a contractual agreement between two parties in a business relationship in which one party, upon termination of the business relationship, can exercise the right to buy the interest of the other party before those rights can be offered for sale to another.

S

“S” CORPORATION

A type of business entity that offers liability protection to its owners and is exempt from corporate taxation on its profits. Some restrictions limit the circumstances under which they can be formed.

SAFETY PROGRAM

Those procedures and activities designed to ensure the physical protection and good health of guests and employees.

SECURITY AGREEMENT

A contract between a lender and borrower that states the lender can repossess the personal property a person has offered as collateral if the loan is not paid as agreed.

SECURITY INTEREST

A legal ownership right to property.

SEGREGATE

To separate a group or individual on any basis, but especially by race, color, religion, or national origin.”

SERVICE CHARGE

An amount added to a guest’s bill in exchange for services provided.

SERVICE MARKS(S)

Similar to a trademark, a legally registered word, name, symbol, or combination of these used to indicate the source or producer of an organization’s services.

SHARES

Fractional portions of a company in which the owner of the portion(s) has voting rights and rights to a respective fraction of the assets of the company.

SHARING ECONOMY

An economic system in which assets or services are shared between private individuals for a fee, typically by means of a smartphone and the Internet.

SIGNATORY

An entity that signs and agrees to abide by the terms of a document.

SMALL CLAIMS COURT

A court designed especially to hear lawsuits entailing relatively small sums of money. They can provide a speedy method of making a claim without the necessity of hiring a lawyer and engaging in a formal trial.

SOLE PROPRIETORSHIP

A business organization in which one person owns and, often, operates the business.

STANDARD OF CARE

The industry-recognized, reasonably accepted level of performance used in fulfilling a duty of care.

STARE DECISIS

The principle of following prior case law.

STATUTE OF LIMITATIONS

Various laws that set maximum time periods in which lawsuits must be initiated. If the suit is not initiated (or filed) before the expiration of the maximum period allowed, then the law prohibits the use of the courts for recovery.

STRICT LIABILITY

Responsibility arising from the nature of a dangerous activity rather than negligence or an intentional act. (Also known as absolute liability or liability without fault.)

SUBLET

To rent property one possesses by a lease, to another. Also called subleasing.

SUBPOENA

A court authorized order to appear in person at a designated time and place; or to produce evidence demanded by the court.

T

TANGIBLE PROPERTY

Personal property that has physical substance and can be held or touched. Examples include furniture, equipment, or inventories of goods.

TARRIFF

The agreement between an airline and its passengers. When purchasing a ticket, the passenger agrees to the terms of the tariff.

TENANT

Anyone, including a corporation, who rents real property for an extended period of time with the intent of establishing a permanent occupation or residency.

THIRD PARTY LIABILITY

The two areas of liability theory that a hospitality manager should be aware of focus on the duties of a host who holds a party where alcohol is served, and that of an establishment licensed to sell alcohol.

TIP CREDIT

The amount an employer is allowed to consider as a supplement to employer paid wages in meeting the requirements of applicable minimum wage laws.

TIP POOLING/SHARING

An arrangement whereby service providers share their tips with each other on a pre-determined basis.

TIPS

A gratuity given in exchange for a service performed.

TITLE

The sum total of all legally recognized rights to the possession and ownership of property.

TITLE SEARCH

A review of land records to determine the ownership and description of a piece of real property.

TORT

An act or failure to act (not involving a breach of contract), that results in injury, loss or damage to another (i.e. negligence is an unintentional tort; whereas battery, physically touching someone, is usually an intentional tort).

TRADE DRESS

A distinct visual image created for and identified with a specific product.

TRADE SECRETS

Business information that is general not known or reasonably ascertainable by others that may provide another business organization or individual with an economic competitive business advantage over other businesses.

TRADEMARK

A word, name, symbol, or combination of these that indicates the source or producer of an item.

TRANSIENT GUEST

A customer who rents real property for a relatively short period of time (i.e., small number of days with no intent of establishing a permanent residency).

TRAVEL LAW

The laws regulating business and individual behavior in the travel industry.

TRUTH-IN-MENU LAWS

The collective name given to various laws and regulations that have been implemented to ensure accuracy in the wording of menus.

U

UMBRELLA

Insurance coverage purchased to supplement primary coverage. Sometimes referred to as excess insurance.

UNDERWRITE

To assume agreed upon maximum levels of liability in the event of a loss or damages.

UNEMPLOYMENT BENEFITS

A benefit paid to an employee who involuntarily loses his or her employment without just cause.

UNEMPLOYMENT CLAIM

A petition, submitted by an unemployed worker to their state unemployment agency, that asserts the worker is eligible to receive unemployment benefits.

UNEMPLOYMENT INSURANCE

A program, funded by employers, that provides temporary money benefits for employees who have lost their jobs.

UNIFORM COMMERCIAL CODE (UCC)

A model statute covering such issues as the sale of goods, credit, and bank transactions.

V

VICARIOUS LIABILITY

A party’s responsibility for the acts of another which result in an injury, harm or damage.(see also Respondeat Superior) .

W

WARRANTY

A promise about a product made by either a manufacturer or a seller that is a part of the sales contract.

WARRANTY DEED

A deed that provides that the person granting the deed agrees to defend the title from claims of others. In general, the seller is representing that they fully own the property and will stand behind this promise.

WARSAW CONVENTION

Short for the Convention for the Unification of Certain Rules Relating to International Carriage by Air signed at Warsaw on October 12, 1929, this agreement set limits on the liabilities of airlines that follow established guidelines for the safe operation of international airline flights.

WHISTLE-BLOWERS PROTECTION ACTS

Laws which protect employees, who have reported illegal employer acts, from retaliation by that employer.

WORKER COMPENSATION

A benefit paid to an employee who suffers a work-related injury or illness.

WRONGFUL TERMINATION

A violation, by the employer, of the employment relationship resulting in the unlawful firing of the employee.

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