business law

Trade Regulation

Trade Regulation: an overview

The terms commerce and trade are often used interchangeably, with commerce referring to large-scale business activity and trade describing commercial traffic within a state or a community. The U.S. Constitution, through...

transaction

In business law, a transaction is an event associated with business dealings conducted between two or more parties that involve the formation and performance of an obligation or contract. The word transaction is frequently used in real estate...

Tying arrangement

Definition

An agreement in which the seller conditions the sale of one product (the "tying" product) on the buyer's agreement to purchase a separate product (the "tied" product) from the seller. Alternatively, it is also considered a tying arrangement...

UBO

Definition

Unincorporated business organization. See: Massachusetts trust.

UCC

The Uniform Commercial Code.

UCC Financing Statement

Also known as a UCC-1 Form, this is a standardized form that a lender files with the state to secure their interest in collateral from a borrower.

When a lender lends money to a borrower, they often ask for collateral to secure the loan....

UCC-1 Form

See: UCC Financing Statement

Unconscionability

A defense against the enforcement of a contract or portion of a contract. If a contract is unfair or oppressive to one party in a way that suggests abuses during its formation, a court may find it unconscionable and refuse to enforce it. A contract...

unconscionable

Unconscionable is an adjective that means without a conscience; unscrupulous; so unfair or unjust that it shocks the conscience. The adjective is frequently used in the context of contract law for contracts that have grossly oppressive and...

underwrite

Underwrite can refer to one of many different kinds of financial risk taking. Broadly, underwrite means agreeing to some form of financial investment with the possibility of profits or losses. A few examples of underwriting include loans,...

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