Cumulative voting refers to any voting structure where individuals can pool their votes together for certain candidates. For example, if a corporate executive has a single vote for each of seven director seats being voted for, cumulative...
corporations
de facto
De facto action is an action taken without strict legal authority to do so, but recognized as legally valid nonetheless. The action is considered something that acquires validity based on the fact of its existence and tradition.
...de facto corporation
De facto corporation refers to the legal recognition of a corporation, even if the articles of incorporation for a corporation are not properly filed. In other words, a corporation may be said to have de facto corporate status by...
de jure corporation
A de jure corporation is a corporation whose legal right to exist cannot be questioned even by the state. De jure is a Latin term that means “by right” or “rightfully such.” Ordinarily, a de jure corporation is established by complying with...
debenture
Debentures refer essentially to unsecured bonds within the United States. Corporations and governments use debentures as long term funding options, usually for major expansions and projects in the case of corporations. Debentures have set...
debt-to-income ratio
The debt-to-income (DTI) ratio measures the amount of income a person or organization generates in order to service a debt. As explained by the Consumer Financial Protection Bureau, your debt-to-income ratio is all your monthly debt payments...
debtor
A debtor is someone who owes a debt or obligation to someone else. Most commonly, this is the obligation to pay money. A classic example is within the situation where a bank extends a loan to an individual or business entity, creating the...
debtor and creditor
Debtor-creditor law governs situations where one party, known as the debtor, is unable to pay a monetary debt to another, known as the creditor. Debtor-creditor law typically plays out through bankruptcy proceedings.
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deductible business expense
Deductible business expense is a very broad category of deductions allowed for businesses because the Internal Revenue Service (IRS) tries to tax business profits, not revenue. Deductible business expenses has been given a broad definition...
default
A default is a failure to fulfill an obligation. Defaulting is most common in regards to debtor-creditor law and contract law. Typically, a default leads to judicial proceedings or triggers the application of a separate contract provision....