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Appendix: Glossary of Technical Terms

Act of Parliament A law made by Parliament (the National Assembly). Acts of Parliament are also called statutes or legislation.
Affidavit A statement made under oath before a Commissioner of Oaths.
Articles of Association A document which regulates the internal affairs of a company.
Audit The process of checking the accuracy of financial records by an independent third party.
Bill A proposal for a new law presented to Parliament
Case law Past court decisions which assist the courts in applying the law in order to decide criminal and civil cases.
Civil court A court, which deals with behaviour that, infringes a person's private right.
Class rights The rights, which attach to a particular type of shares, such as preferential shares which, grant the holder the right to be paid a dividend before ordinary shares.
Commissioner of Oaths A person who is legally entitled to sign a sworn statement or swear that a photocopy or photograph is a true copy of an original document.
Common law A source of law, which in Southern Africa is the law which has been handed down from colonial times
Consumer A person who buys goods or who hires services from another person
Contract An agreement between two (or more) persons, which is legally binding on each of them and which can be enforced through the courts.
Creditor A person who is owed money.

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Debenture A claim arising from the loan of money to a company.
Debtor The person who owes money to a creditor
Delegated legislation The laws made by persons such as Government Ministers and local government authorities, under powers which have been given to them by Parliament.
Dividend A share of a company’s profits paid to shareholders
Government Gazette A weekly Government publication, which contains new Bills or Acts of Parliament, legal advertisements and notices.
Hire A contract whereby one person pays another person in return for the use of something belonging to that person.
Hire-purchase A contract whereby a buyer pays the purchase price (plus interest) to the seller in a number of instalments but does not obtain ownership until the full purchase price is paid.
Liquidation The process of closing down a company and selling its assets to pay off its debts.
Liquidator The person who liquidates a company.
Memorandum of association The document, which sets out what, a company can do.
Passing off A civil (private) wrong whereby someone passes off his goods or business as being that of another person, for example by using a similar name, or logo.
Statute An Act of Parliament
Winding up The termination of a business by selling its assets and settling its liabilities.

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SEPAC Publications

A Regional Network Approach to Fostering Small Business Promotion in SADC Countries. Proceedings of the Third SEPAC Conference 1997
SME Policies and Policy Formulation in SADC Countries. Papers Presented to the Workshop of the SEPAC Working Group "Policy Issues" 1998
Chambers of Commerce and Industry as Small Business Service Providers - Opportunities and Challenges. Papers Presented to the Workshop of the SEPAC Working Group "Entrepreneurship Development and Training" 1999
Appropriate Technology for Small and Medium Enterprises in SADC Countries. Papers Presented to the Workshop of the SEPAC Working Group "Information, Technology and Technology Transfer" 1999

Copies can be ordered from

Friedrich Ebert Stiftung, Botswana Office

© Friedrich Ebert Stiftung | technical support | net edition fes-library | November 2000

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