An artisan’s lien is a type of lien that gives workers a security interest in personal property until they have been paid for their work on that property. It works exactly the same as a mechanic's lien.
See e.g., In re Enron...
commercial law
asset purchase agreement
An asset purchase agreement is a contract under which a seller transfers to a buyer a portion or all of the assets of an entity.
Although the content of an asset purchase agreement may vary in complexity depending on the...
bailee (custodian)
Bailee is a person who receives possession of a property or goods, usually pursuant to a contract of bailment. A bailee is responsible for the safe return of the property or goods to the owner (bailor) when the contract is fulfilled. Unlike a...
balloon mortgage
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...
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...
bill of lading
A bill of lading is a legal instrument used in the transportation and shipping industries which lists the goods being shipped and the terms under which they will be delivered. If the goods as delivered do not match the terms of the bill of...
BIOCOB
In the law of secured transactions, BIOCOB refers to a “buyer in the ordinary course of business.” There are certain elements that a buyer must meet to qualify as a BIOCOB. The buyer must purchase particular goods in good faith, without...
bond
A bond refers to an obligation to pay a specified amount of money.
In the field of business, a bond functions similar to a loan and is sold by entities seeking an inflow of cash now in exchange for the promise of future interest on...buyer
A natural person or entity that buys goods or other property to a seller.
See also: Goods
[Last updated in July of 2021 by the Wex Definitions Team]
bylaw
Bylaws refer to the regulations and rules established by a company or other organization for internal management. Bylaws are most often used in companies to determine the rights and obligations of employees and organizations in a corporate...