contracts

adverse interest

There are three main types of adverse interests.

An adverse interest can mean an interest, claim or right that is against another’s interest. For example, a plaintiff and defendant have adverse interests. A witness with...

agency shop

An agency shop is a place of employment in which full membership in a union is not required, but the union acts as an agent for the employees. Both union members and non-union members must pay periodic union dues and initiation fees whether...

agreement

An agreement is a manifestation of mutual assent by two or more persons to one another.

It is a meeting of the minds in a common intention, and is made through offer and acceptance. An agreement can be shown from words, conduct, and in some...

agricultural lien

As established in UCC §9 102-5, an agricultural lien is a lien placed on farm products like farm equipment or livestock that secures payment or performance in exchange for a loan of land, goods, or money. These loans allow farmers to produce...

ambiguity

Ambiguity means language in an agreement has more than one meaning. Cases such as this one from New York explain that ambiguity in the context of a contract is defined as “whether a reasonably intelligent person looking at the contract...

amend

To amend is to make a change by adding, subtracting, or substituting. For example, one can amend a statute, a contract, the United States Constitution, or a pleading filed in a lawsuit. Generally, procedures dictate the way in which one...

amortization

Amortization has different meanings for loan payments and taxes. Amortization for loans refers to separating the payments for the loan principal and interest into periodic payments to where the loan is paid off at a specified time....

anchoring

In negotiations, “anchoring” refers to the common tendency of giving undue weight to the first value or number put forth, and to then inadequately adjust from or counter the first value or number, or the “anchor.”

Thus the...

angel investor

An angel investor is an individual investor—often a high net worth individual—who provides capital for emerging growth companies, typically in exchange for either ownership equity or convertible debt. Angel investments often represent the...

annual percentage rate (APR)

An annual percentage rate (APR) is the yearly rate charged for a loan or earned by an investment. In other words, it is a measure of the cost of credit, expressed as a yearly rate. APR includes interest as well as other fees associated with...

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