Although the Securities Exchange Act of 1934 ("Exchange Act") lays out a comprehensive registration process and reporting scheme, the Act makes it clear that the Securities and Exchange Commission ("SEC") does not single-handedly ensure industry...
commercial law
sell
To sell means to transfer property from a seller to a buyer via a sale.
[Last updated in July of 2021 by the Wex Definitions Team]
seller
A natural person or entity that sells goods or other property to a buyer.
See also: Goods
[Last updated in July of 2021 by the Wex Definitions Team]
setoff
1. The right of someone who owes money to subtract from the debt any money owed in the other direction.
2. A defendant's monetary demand against the plaintiff for some injury unrelated to the plaintiff's claim.
sham transaction
A transaction that is unlawful or illusory. Illusory transactions that exist on paper but have no tangible consequences may be voided in court, especially if used as a tax shelter or other deceptive device.
shipment contract
Under Article 2 of the Uniform Commercial Code, a shipment contract is one way in which buyer and seller could contract to allocate risk of loss between buyer and seller when goods or lost or damaged before the buyer obtains them from the seller and...
Simplified Network Application Process Redesign (SNAP-R)
SNAP-R is the online system that the Department of Commerce's Bureau of Industry and Security provides to the public. Users can submit export license applications and commodity classification requests securely through this system.
stock dividend
A Stock dividend refers to corporate dividends compensating shareholders or employees in the form of stocks instead of money. Companies issue stock dividends typically in the form of a certain percentage per share. For example, a company may...
stock option
Definition from Nolo’s Plain-English Law DictionaryThe right to purchase stock in the future at a price set at the time the option is granted (by sale or as compensation by the corporation). To actually obtain the shares of stock the owner of the option...
subcontractor
A subcontractor is a person or entity that has been awarded by the general contractor the performance of part of the work or services of an existing contract entered between the general contractor and the (original) contracting party....