A balloon mortgage is a mortgage where the payments are not large enough to pay off the entire mortgage during its amortization period. Thus, the borrower must make an extra-large payment at the end of the amortization period to fully pay off...
business sectors
banking
Overview:
Banks and bank accounts are regulated by both state and federal statutes. Bank accounts may be established by national and state chartered banks and savings associations. All are regulated by the law under which it was established...
bankruptcy
Overview:
Bankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt....
basis point
A basis point (often abbreviated as bp) is a unit of measurement that denotes a change in the interest rate of a financial instrument and is equal to 1/100th of 1% or 0.01%. It is a usual practice in the financial industry to use basis points...
Battle & Sons Funeral Home v. Chambers
Battle & Sons Funeral Home v. Chambers, 63 Ohio Misc. 2d 441 (Ohio Mun. Ct. 1993), is a case in Ohio on what expenses are considered “necessary” for burial and the responsibility of the spouse to pay.
FactsThe...
bearer paper
A bearer is an individual who is in possession of a negotiable instrument, document of title, or proof of security that is either payable to the person in possession (ie. payable to bearer) or endorsed in blank. These types of instruments are...
beneficial owner
Beneficial owner is a person or entity who ultimately owns or controls an interest in a legal entity, such as a security, property, or interest in a trust.
In the Securities context, for example, individuals who are...
beneficial ownership
A beneficial ownership is a trust arrangement whereby the beneficial owner of a security has the power to vote on and influence decisions regarding that security, and receives the benefit afforded by the security, even though in street name...
bilateral
Bilateral means two-sided and is frequently used to refer to agreements between two countries. For example, the United States and Australia have a Bilateral trade agreement limiting tariffs or other protectionist policies between the two...
bilateral investment treaty
Overview:
Bilateral investment treaties (or, BITs) are international agreements establishing the terms and conditions for private investment by nationals and companies of one country to another country.
The first...