OL glossary terms

Browse full definitions for every OL term in the Amicus glossary.

Old-Age Benefits

/ˌoʊldˈeɪdʒ ˈbɛnɪfɪts/

Definitions

  1. (n.) Periodic payments made by a government or social insurance program to individuals retired from active employment due to age.
    The employee became eligible for old-age benefits upon reaching retirement age.
  2. (n.) Payments from private pension plans or retirement funds to retired individuals.
    She receives old-age benefits from her former employer's pension plan.

Forms

  • old-age benefits
  • old-age benefit

Related terms

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Commentary

Old-age benefits typically arise under social security or pension law and are contingent on statutory retirement age or employment history.

Oligarch

/ˈɒlɪɡɑːrk/

Definitions

  1. (n.) A member of a small group who holds significant political and economic power, often associated with wealth and influence in governance.
    The oligarch exerted considerable influence over the country's legislative decisions.

Forms

  • oligarchs

Related terms

See also

Commentary

In legal contexts, 'oligarch' often appears in discussions of governance, corruption, and anti-trust regulations; clarity is advised to distinguish political power concentration from purely economic dominance.

Oligarchy

/ˈɒlɪɡɑːrki/

Definitions

  1. (n.) A form of government in which power is concentrated in the hands of a small, elite group, often characterized by limited political participation and control over decision-making.
    The country was ruled by an oligarchy that controlled all major industries and political offices.

Forms

  • oligarchies

Related terms

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Commentary

Oligarchy in legal contexts typically relates to structures of power and governance impacting lawmaking and enforcement, highlighting control by a few rather than democratic rule.

Oligopoly

/ˈɒlɪɡəˌpɒli/

Definitions

  1. (n.) A market structure dominated by a small number of firms whose decisions collectively affect prices and competition.
    The court analyzed the oligopoly to determine whether antitrust laws were violated.

Forms

  • oligopolies

Related terms

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Commentary

In legal contexts, identifying an oligopoly is crucial for antitrust analysis and assessing competitive harm in markets with few sellers.

Olive

/ˈɑː.lɪv/

Definitions

  1. (n.) A fruit used metaphorically in legal contexts to symbolize peace or settlement agreements.
    The parties exchanged olives as a symbolic gesture to signify the start of negotiations.

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Commentary

In legal drafting, the term 'olive branch' is often used metaphorically implying peaceful resolution; 'olive' alone references this symbolism rather than a substantive legal concept.

Olive Branch

/ˈɑlɪv bræntʃ/

Definitions

  1. (n.) A symbol or offer of peace, reconciliation, or truce, often used in diplomatic or legal negotiations.
    The parties extended an olive branch to avoid further litigation.

Forms

  • olive branches

Related terms

See also

Commentary

The term is metaphorical in legal context, typically signifying an attempt to resolve conflicts without resorting to formal proceedings.

Glossary – OL Terms