Terminologies of BCRW

Market Value is the estimated amount for which a property should exchange on the date of valuation between an educated buyer and a reasonably motivated seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without undue influence. Adjournment:

Suspension or postponement of the hearing of a case, either to a definite future date or indefinitely (called sine die adjournment). Unanimously: The proposals were adopted unanimously. OR Shared as a view by all of the people concerned, with nobody disagreeing. OR Complete agreement by all people in a given situation. When unanimous, everybody is of same mind and acting together as one. Veto:

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A veto, Latin for “I forbid”, is the power of an officer of the state to unilaterally stop an official action, especially enactment of a piece of legislation. Ad-hoc: Ad-hoc is a Latin phrase meaning “for this”. It generally signifies a solution designed for a specific problem or task, non-generalizable, and not intended to be able to be adapted to other purposes. Standing Order:

A Standing Order (or a Standing Instruction) is an instruction a bank account holder gives to his bank to pay a set amount at regular intervals to another account. Proxy: Written authorization from an absent member (or a shareholder, called the ‘principal’) that confers a limited power of attorney on another person, member, or management of the firm (called ‘agent’ or ‘proxy’) to vote on behalf of, and in accordance with the directions of, the principal.

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