COMMERCE

act of nature

Act of nature, also known as act of God, is an event that is caused solely by the forces of nature without human intervention. Any accident that is not under human control, influence, or human involvement, and is caused purely by the direct,...

actual authority

Actual authority is an agent's power to act on behalf of a principal, because such power was expressly or impliedly conferred. Express actual authority is when a principal directly tells the agent that they have the authority to take certain...

actual damages

In tort law, actual damages, also known as compensatory damages, are damages awarded by a court equivalent to the loss a party suffered. If a party’s right was technically violated but they suffered no harm or losses, a court may instead...

ADA

The Americans with Disabilities Act (ADA) is a civil rights law that prohibits discrimination against individuals with disabilities. It was signed into law on July 26, 1990, by President George H.W. Bush. The ADA is also falls under the...

addendum

An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the...

adequate remedy

An adequate remedy is one that affords complete relief with reference to the particular matter in controversy, and which is appropriate given the circumstances of the case. An adequate remedy has also been described as a remedy that is...

adhesion contract

An adhesion contract, also known as a contract of adhesion, is a contract where the parties are of such disproportionate bargaining power that the party of weaker bargaining power could not have negotiated for variations in the terms of the...

adhesion contract (contract of adhesion)

An adhesion contract exists if the parties are of such disproportionate bargaining power that the party of weaker bargaining strength could not have negotiated for variations in the terms of the adhesion contract. Adhesion contracts are...

adjustable rate mortgage (ARM)

Adjustable rate mortgage (ARM) is a type of mortgage where the interest rate changes over time. In contrast, fixed rate mortgages made for 15, 20, or 30 years have a set amount of interest on the loan that does not change. ARMs come in many...

adjusted basis

Adjusted basis is the cost basis of an asset adjusted for various events during its ownership. It is usually used to calculate an owner’s capital gain or loss for income tax purposes when the property is sold, or to calculate an inheritor’s...

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