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Simple English definitions for legal terms
founded on
Read a random definition: interest factor
A quick definition of founded on:
Founded on: When something is founded on something else, it means that it is based on that thing. For example, if a lawsuit is founded on a breach of contract, it means that the lawsuit is based on the fact that someone did not keep their promise in a contract.
A more thorough explanation:
FOUNDED ON
founded on, adj. Having as a basis.
- The company's success was founded on its innovative products and excellent customer service.
- The lawsuit was founded on the defendant's breach of contract.
The term "founded on" refers to something that is based on a particular idea, principle, or action. In the first example, the company's success is based on its innovative products and excellent customer service. In the second example, the lawsuit is based on the defendant's breach of contract. Both examples illustrate how something can be founded on a specific basis or foundation.