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What Is Abandoned Property?

In legal terms, abandoned property refers to any property which has been left untouched by its owner for prolonged periods of time without a clear intention to retrieve it at some later point.

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What Is a Voidable Contract?

In legal terms, a voidable contract refers to a type of contract which can be voided by one of the parties at any given time without repercussions for them.

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What Are Secured Transactions?

Secured transactions are dealings that involve a loan or credit. In this type of transaction, the lender acquires a security interest in the collateral presented by the borrower. The lender here referred to as the secured party possesses a right to own the property should the property used as...

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What Is Bankruptcy Dismissal?

Bankruptcy dismissal is an action by the court to dismiss a bankruptcy case. This means the case has been officially closed by the judge and no further rulings are made. In short, the bankruptcy will not be finalized. There are various reasons that a judge dismisses a bankruptcy case. There may...

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What Is a Merit Increase?

A merit increase is a performance-based increase in an employee’s wages. A merit increase can be applied to hourly or yearly wages. If an employee is paid by the hour, he usually gets a merit increase in such a way that he gets a higher per hour rate. For example, if he gets $10 per hour, after...

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What Is a Bridge Loan?

A bridge loan is a kind of loan that is meant to provide a borrower with short-term assistance. The name implies a lot about the nature of the loan - it serves as a bridge to get an individual through a temporary tough period. They also often serve as loans to deal with temporary cash flow problems...

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What Are Business Expenses?

When a business is set up, costs are always part of its operations. Those costs are what are called business expenses. These expenses include anything that are related to running the business. Some common examples of business expenses are rent, salaries, and utilities. Business expenses can...

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What Is a Credit Reference?

A credit reference is a person or a company that has a financial connection to another person or company. This connection implies that the credit reference has accurate knowledge regarding the financial state or habit of the other party at some point in time. One can often find credit references...

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What Are Fundraisers?

Fundraisers are events that are organized with the special purpose of making money that will go to a specific cause. Fundraisers can be organized by individuals or organizations. Fundraisers normally depend on the goodwill of other people, who give donations. Alternatively, organizers of...

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What Is Return on Investment?

Return on investment (ROI) is a financial term used to refer to the ratio of the money that is gained (or lost) to the money that has been invested. This figure is usually expressed as a percentage. When an individual or an organization invests money on something, a positive return on investment...