Examlex
The two major problems caused by asymmetric information are the moral-hazard problem and the principal-agent problem.
U.S. Supreme Court
The highest federal court in the United States, consisting of nine Justices and holding final appellate jurisdiction over federal and state court cases.
Appealing
The process of applying to a higher court for a reversal of the decision of a lower court.
Writ of Certiorari
A legal order issued by a higher court to review the decision and proceedings of a lower court.
Offer of Proof
A legal procedure in a trial where a party outlines what evidence would show if it were allowed, often used after an objection to evidence has been sustained.
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