Assumable mortgage is a term for mortgages that can be transferred to another person. If a mortgage is assumable, the selling owner transfers the title and mortgage to the buyer instead of the buyer getting a different mortgage. This process...
commercial activities
assume
To assume means to undertake. Generally, in legal contexts, to assume means to take over a certain duty or responsibility. For example, Alice may assume Bob’s liability for a debt (Alice may take over Bob’s debt).
In...
assumption
An assumption is an assertion or statement that is taken as true or supposed as a fact without proof or substantiating evidence. An assumption may also be the act of taking over (another individual or entity’s) duty or responsibility.
...assured
Assured is used to refer to a person who is protected by insurance coverage against any loss or damage mentioned in the insurance policy purchased form an insurance company or an underwriter. In the context of insurance, the terms “insured” and “...
asylum
Asylum is a kind of protection granted by a foreign country to individuals, especially those who face persecution in their home countries because of their race, religion, nationality, membership in a particular social group, or political...
attached
Attached property is property that has been seized pursuant to a court order, either as a provisional pre-judgment remedy or for the enforcement of a final judgment. Property may be attached only after the commencement of a lawsuit. In a pre-...
attachment
An attachment is a court order seizing specific property. Attachment is used both as a pre-trial provisional remedy and to enforce a final judgment.
Sometimes, courts attach a defendant's property as a provisional remedy to...
attestator
An attestator is a person who attests or verifies the authenticity of a document or signature by adding their own signature or stamp. Accordingly, such a document becomes attested, which means it has been acknowledged as an authentic document...
audit
An audit (noun) is a formal examination and verification of an individual’s or organization’s records and accounts, finances, or compliance with a set of standards.
To audit (verb) is the act of conducting the formal...
audit committee
The audit committee is a committee composed of a company’s board of directors in charge of overseeing the company’s auditors, financial reporting, and disclosures. 15 U.S.C. § 78c(a)(58) defines an audit committee as “a committee (or...