COMMERCE

A third-party beneficiary is a person or entity that is not a party to a contract but may enforce a promise in the contract because the contracting parties int

• lawsuits-court
• business-llcs-corporations
• consultants-contractors

Truth in Lending Act (TILA), also known as Regulation Z, is a consumer protection law enacted in 1968 in response to exceedingly predatory loan practices. Prior to TILA, lenders would use a variety of differing terminology and forms of lending that manipulated or misled uninformed borrowers.

In a legal context, “time is of the essence” is a statement that may be included in the language of the provisions of a contract to emphasize that the parties must complete their obligations on time. In other words, the phrase “time is of the essence” means that timing is material to the performance of the contract.

Title insurance is coverage purchased by buyers of real estate to protect against issues of title.

A tontine is an investment plan in which participants contribute to a common fund and receive annuities or dividends based on their share in the pool.

“Too big to fail” refers to an entity so important to a financial system that a government would not allow it to go bankrupt due to the seriousness of the economic repercussions. For example, the 2008 Emergency Economic Stabilization Act provided bailout funds for Wall Street banks and U.S. automakers, the financial health of which were considered essential to the United States economy. 

Tortious interference is a common law tort allowing a claim for damages against a defendant who wrongfully and intentionally interferes with the plaintiff's contractual or business relationships.

Toxic mold is a term used to describe types of mold that are considered harmful to humans. Toxic mold encompasses hundreds of species of mold, a small fraction of which are not very harmful to the human body. Mold is a form of fungus that grows both indoors and outdoors and thrives in warm, damp, and humid environments. 

A toxic tort is a subcategory of torts involving injuries to plaintiffs caused by toxic substances. Such cases are often brought under the doctrine of product liability.

A trade name is a type of mark used to identify a company, partnership, or business rather than goods or services. Trade names cannot be registered under the Lanham Act unless they actually function to identify the source of particular goods or services rather than merely identifying the company itself.