A contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and...
money and financial problems
contract implied in law
A contract implied in law, also known as a quasi-contract or a constructive contract, is an obligation created by law for the sake of justice or to avoid unjust enrichment. A contract implied in law operates as a valid contract for purposes...
contribution
Contribution is an important term in the fields of business and tort law.
Tort LawIn the field of tort law, contribution refers to an action a defendant may bring in a joint and several liability jurisdiction to recover...
corruption
Corruption is a dishonest, fraudulent, or even criminal act of an individual or organization, using entrusted authority or power to make a personal gain or other unethical or illegal benefits. Corruption happens not only in political fields...
court costs
Costs are the fees incurred for the use of a court and are seen in civil and criminal courts of all levels. Court costs usually include the initial filing fee, fees for serving the summons, complaint, and subpoenas, and fees to pay for the...
credit
Credit means the right granted by a creditor to an applicant to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment. See: 12 CFR § 1002.2(j)
Business credit refers to extensions of credit...
credit card fraud
Credit card fraud is a form of identity theft that involves an unauthorized taking of another’s credit card information for the purpose of charging purchases to the account or removing funds from it. Federal law, by way of 15 U.S.C. §1643,...
credit default swap
A credit default swap (CDS) is a type of derivative contract in which two parties exchange the risk that some credit instrument will go into default. The buyer of a CDS agrees to make periodic payments to the seller. In exchange, the seller...
credit instrument
A credit instrument is a promissory note or other written evidence of a debt. Common examples include bonds, loans, checks, or invoices.
Credit instruments are used by governments, companies, and individuals alike.
...creditor
A creditor is someone (or an entity) to whom an obligation is owed. Most commonly, the obligation owed is an obligation to pay money for some prior services or to pay off a loan. The person who owes a creditor an obligation is known as a...