Dec 9, 2013 | Glossary, Transactional Glossary
Property that is promised as security for the satisfaction of a debt.Dec 9, 2013 | Corporate Glossary, Glossary
All the law which applies to the rights, relations and conduct of persons and businesses engaged in commerce, merchandising, trade and sales. In recent years this body of law has been codified in the Uniform Commercial Code, which has been almost universally adopted...Dec 9, 2013 | Corporate Glossary, Glossary
Debts incurred for personal, as opposed to business, needs.Dec 9, 2013 | Glossary, Litigation Glossary
A claim that may be owed by the debtor under certain circumstances, e.g., where the debtor is a co-signer on another person’s loan and that person fails to pay.Dec 9, 2013 | Glossary, Transactional Glossary
An agreement between two or more people that creates an obligation to do or not to do a particular thing.Dec 9, 2013 | Corporate Glossary, Estate Planning Glossary, Glossary, Litigation Glossary, Transactional Glossary
Legal advice; a term also used to refer to the lawyers in a case.