Someone who assumes direct liability for another's obligation. Financial creditors may require the debtor to find a surety, who then signs the loan agreement along with the debtor. Although similar to a guarantor, a financial surety's liability...
commercial law
tender offer
Tender offer is a public offer to buy shares of a corporation, usually at above market price and with the intention of gaining controlling interest in the target corporation. An acquirer making a tender offer for more than 5% of a corporation...
UCC
The Uniform Commercial Code.
UCC Financing Statement
UCC Financing Statement (usually called a UCC-1 Form) is a form that creditors file with states in which they have a security interest in a debtor’s personal property. The financial statement serves a similar purpose as recording a deed for...
UCC-1 Form
UCC-1 Form (commonly called a UCC financial statement) is a form that creditors should file with states in which they have a security interest in personal property. The financial statement serves a similar purpose as recording a deed for real...
Uniform Commercial Code
A uniform code governing commercial transactions that has been adopted in some form by every state as well as by the District of Columbia. It includes sections pertaining to sales and leases of goods, negotiable instruments, and secured transactions...
valuable consideration
Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other...
variable annuity
A variable annuity is an annuity — periodic payments to a recipient — that vary in amount based on the performance of the underlying investments. Variable annuities are tax-deferred and a person does not have to pay any taxes on the income or...