Word : Ceteris Paribus
Meaning: Ceteris Paribus is derived from a Latin word which basically means “all other things being equal” or “with other things the same,”
It is an example of an ablative absolute and is commonly rendered in English as “all other things being equal.” A prediction, or a statement about causal or logical connections between two states of affairs, is qualified by ceteris paribus in order to acknowledge, and to rule out, the possibility of other factors that could override the relationship between the antecedent and the consequent.
Example: During 2010, the price of gold was touching new heights, where as other metals being Ceteris Paribus
Pronunciation:
Ceteris – ‘set-er-is’
Paribus – ‘par-uh-buhs’
Word : Res Judicata
Meaning : Res Judicata also known as claim preclusion, is the Latin term for “a matter [already] judged”, and may refer to two things: in both civil law and common law legal systems, a case in which there has been a final judgment and is no longer subject to appeal and the term is also used to refer to the legal doctrine meant to bar (or preclude) continued litigation of such cases between the same parties, which is different between the two legal systems. In this latter usage, the term is synonymous with “preclusion”.
Example: The High Court of Mumbai has decided the case based on the Res Judicata by the Supreme Court.
Pronunciation:
‘res- ju-di-ca-ta’