A premarital agreement, also known as a prenuptial agreement or antenuptial agreement, is a contract made by the parties to a marriage prior to the marriage.
The agreement may determine matters such as one party's rights in...
money and financial problems
prepaid legal services
Prepaid legal services are arrangements by which a person pays for legal services potentially needed in the future. Businesses sometimes create prepaid legal service plans as a benefit to their employees. Such an employee benefit plan might...
principal
In general, a principal is a person or thing that is more important than others when identified for a particular purpose. The term also has specific meanings in various fields of law.
In criminal law, principal refers to a...
priority
Priority refers to the order of preference given to different interests or rights. Priority appears in multiple areas of law regarding debt, equity, bankruptcy, and patents. The most common appearance of priority arises in relations among...
private mortgage insurance
Private mortgage insurance, also known as PMI, is a type of insurance that covers the mortgagee (the lender) against losses resulting from a breach of the mortgagor's obligation to repay the loan.
PMI is usually an insurance...
proceeds for damaged exempt property
Proceeds for damaged exempt property are the insurance payouts or awards received as part of legal dispute regarding exempted assets in bankruptcy. When a person goes into bankruptcy, some essential assets are exempted from the reach of...
profit margin
See margin.
[Last updated in March of 2024 by the Wex Definitions Team]
promissory note
A promissory note is an unconditional promise to pay a certain amount of money to a named party or the holder of the note, or to deposit that money as such persons direct. A promissory note must be in writing and signed by the maker of the...
proprietorship
A proprietorship is a form of business organization in which one person owns all the assets and assumes all the debts of the business. It is also referred to as sole proprietorship, or individual proprietorship. The owner of the...
purchase money mortgage
A purchase money mortgage is a mortgage on a piece of real property given by the buyer to the seller or a third-party as part of the deal to buy the property.
Purchase money mortgages are executed simultaneously with the...