Negotiable instrument
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a written promise or order to pay a certain sum of money. signed or written
unconditional promise to pay, to the bearer of the instrument or to order of
a certain party, a specific sum of money on demand or on a certain date.
Purchase money security interest
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a secured interest created when a buyer uses the money of a lender to
make a purchase and gives the lender a security interest in the property
purchased.
,Note
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A written promise by one party (the maker) to pay money to another party
(the payee) or to bearer; a two-party negotiable instrument
Fiduciary Duty of loyalty
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the principle that directors and officers of a corporation is making all
decisions in their capacities as corporate fiduciaries, must act with out
personal economic conflict. This can be breached either by making a self
interested transaction or taking a corporate opportunity.
Terminating the corporation
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is conducted in two parts: the dissolution phase and the winding up phase.
Cashier's Check
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a banks check, drawn on itself, signed by the cashier of the bank or other
bank officials obligated the bank to pay the payee a certain sum of money
, on demand
security interest
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the creditor must give notice of the existence of the security interest so
other potential creditors are aware that they will stand behind the creditor
with the perfected interest in trying to get paid.
Limited partnership
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a business organization consisting of one or more general partners, who
manage and contribute assets to the business and who are personally
liable for the debs of the business, and one or more limited partners, who
contribute assets only and are liable only up to the amount of that
contribution
Franchise
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a contract between a parent company and an operating company to allow
the franchisee to run a business with the brand name of the parent
company, so long as the terms of the contract concerning methods of
operation are followed
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a written promise or order to pay a certain sum of money. signed or written
unconditional promise to pay, to the bearer of the instrument or to order of
a certain party, a specific sum of money on demand or on a certain date.
Purchase money security interest
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a secured interest created when a buyer uses the money of a lender to
make a purchase and gives the lender a security interest in the property
purchased.
,Note
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A written promise by one party (the maker) to pay money to another party
(the payee) or to bearer; a two-party negotiable instrument
Fiduciary Duty of loyalty
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the principle that directors and officers of a corporation is making all
decisions in their capacities as corporate fiduciaries, must act with out
personal economic conflict. This can be breached either by making a self
interested transaction or taking a corporate opportunity.
Terminating the corporation
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is conducted in two parts: the dissolution phase and the winding up phase.
Cashier's Check
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a banks check, drawn on itself, signed by the cashier of the bank or other
bank officials obligated the bank to pay the payee a certain sum of money
, on demand
security interest
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the creditor must give notice of the existence of the security interest so
other potential creditors are aware that they will stand behind the creditor
with the perfected interest in trying to get paid.
Limited partnership
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a business organization consisting of one or more general partners, who
manage and contribute assets to the business and who are personally
liable for the debs of the business, and one or more limited partners, who
contribute assets only and are liable only up to the amount of that
contribution
Franchise
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a contract between a parent company and an operating company to allow
the franchisee to run a business with the brand name of the parent
company, so long as the terms of the contract concerning methods of
operation are followed
