The articles of organization are a public and official document used to create a limited liability company (LLC). The LLC members must file the articles of organization before the relevant state authority (usually the Secretary of State) for...
business law
artificial intelligence (AI)
According to 15 U.S. Code § 9401 artificial intelligence is defined as “a machine-based system that can, for a given set of human-defined objectives, make predictions, recommendations or decisions influencing real or virtual environments.”...
artificial person
An artificial person is also known as a juridical person; it has a legal name and has certain rights, protections, privileges, responsibilities, and liabilities in law, similar to those of a natural person. In other words, an artificial...
artisan's lien
An artisan’s lien is a type of lien that gives workers a security interest in personal property until they have been paid for their work on that property. It works exactly the same as a mechanic's lien.
See e.g., In re Enron...
as is
“As is” refers to a term used in sales contracts where the buyer agrees to buy a product in its current condition, without legal recourse should the buyer discover a defect in the product after purchase. The buyer should be able to view and...
asset purchase agreement
An asset purchase agreement is a contract under which a seller transfers to a buyer a portion or all of the assets of an entity.
Although the content of an asset purchase agreement may vary in complexity depending on the...
assign
Assign is the act of transferring rights, property, or other benefits to another party (the assignee) from the party who holds such benefits under contract (the assignor). This concept is used in both contract and property law.
Contract...assignee
Assignee is a person to whom a right is transferred by the person holding such rights under the transferred contract (the “assignor”). The act of transferring is referred to as “assigning” or “assignment” and is a concept found in both...
assignment
Assignment is a legal term whereby an individual, the “assignor,” transfers rights, property, or other benefits to another known as the “assignee.” This concept is used in both contract and property law. The term can refer to either the act of...
assignment for benefit of creditors
Assignment for the benefit of the creditors (ABC)(also known as general assignment for the benefit of the creditors) is a voluntary alternative to formal bankruptcy proceedings that transfers all of the assets from a debtor to a trust for...