business law

Syndicate

Definition

See: joint venture.

Takeover

Definition

The change in controlling interest in a corporation. Takeovers can be unfriendly (hostile), meaning adversarial to the existing management or friendly, meaning with the approval of existing management.

See alsoHostile TakeoverGreenmail

tax registration certificate

Definition from Nolo’s Plain-English Law DictionarySee: business license

Definition provided by Nolo’s Plain-English Law Dictionary.

tender

Definition from Nolo’s Plain-English Law Dictionary1) To present to another person an unconditional offer to enter into a contract; a request for bids. 2) To present payment to another.

Definition provided by Nolo’s Plain-English Law Dictionary.

tender back rule

Definition from Nolo’s Plain-English Law DictionaryA legal principle requiring a party who seeks to invalidate a contract to return whatever that party received under the contract's terms. For example, a former employee who receives a severance package in...

Tender offer

Definition

A public offer to buy shares of a corporation, usually at above market price and with the intention of gaining controlling interest in the target corporation. An acquirer making a tender offer for more than 5% of a corporation's shares is...

term

Definition from Nolo’s Plain-English Law Dictionary1) In contracts or leases, a period of time, such as one year, in which a contract or lease will be in force. 2) In contracts or leases, a specified condition, often also called a clause, such as a...

Third party beneficiary

A third party beneficiary is a person benefiting from a contract made between two parties, where the two contracting parties intended to benefit the third party beneficiary. The third party beneficiary is not a party to the contract but has rights...

third-party beneficiary

Definition

A person who is neither a promisor nor promisee in a contractual agreement, but stands to benefit from the contract’s performance. A third-party beneficiary may legally enforce that contract, but only after his or her rights have...

time is of the essence

Definition from Nolo’s Plain-English Law DictionaryA phrase often used in contracts to emphasize that any delays will be grounds for termination.

Definition provided by Nolo’s Plain-English Law Dictionary.

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