An act, document, product, process or anything else sanctioned with legal efficacy through authorization by a public official. A public official is an individual elected or appointed to carry out a subset of the powers of the government. One salient...
business law
officious intermeddler
A person who confers a benefit on another without request or without a legal obligation, and is therefore not entitled to compensation from the recipient. The officious intermeddler rule protects those who have unsolicited benefits thrust upon them and...
offshore corporation
An offshore corporation, or offshore company, is a company that is chartered under the laws of a country other than the U.S. These offshore jurisdictions, like the British Virgin Islands or the Cayman Islands, have special offshore company...
omission
Omission is refraining from acting or disclosing, see Brown v. Standard Casket Mfg. Co..
It can be used in various situations:
"Failure to disclose the origin of a recording” in criminal law is defined as following: “...on or before
A phrase usually found in a contract or promissory note requiring payment or performance by a particular date or prior to that date. Further, employment of this phrase in a contract may implicate that time is of the essence. For example, in...
operating agreement
An operating agreement is the governing contract adopted by members of a Limited Liability Company (LLC). It lays out the business's course and helps operations and management become more organized. It can be used to regulate nearly all...
option
An option is an agreement that conveys the right to purchase property or engage in a transaction in the future upon agreed-upon terms.
As defined in 7 U.S.C. Section 1a(36), the term "option" means "an agreement, contract...
option ARM
An Option ARM (adjustable-rate mortgage) is a type of mortgage where the borrower has several possible payment choices. The borrower may pay:
A payment covering the interest and principal amounts, which will reduce the amount owed on...option contract
An option contract is a promise to keep an offer open for another party to accept within a period of time. With an option contract, the offeror is not permitted to revoke the offer within the stated period of time. Most option contracts...
option to cure
Option to cure is a contract principle that, where available, allows a party to a contract to have the opportunity to correct their performance to align with their obligations in the contract. Under Article 2 of the Uniform Commercial Code,...