commercial law

A debtor is someone who owes a debt or obligation to someone else. Most commonly, this is the obligation to pay money.

Debtor-creditor law governs situations where one party, known as the debtor, is unable to pay a monetary debt to another, known as the creditor. Debtor-creditor law typically plays out through bankruptcy proceedings. 

A default is a failure to fulfill an obligation. Defaulting is most common in regards to debtor-creditor law and contract law. Typically, a default leads to judicial proceedings or triggers the application of a separate contract provision. 

The Denied Persons List is a list of people and companies whose export and reexport privileges have been denied by the Department of Commerce’s Bureau of Industry and Security (BIS).  An American company or individual may not participate in an export transaction with an individual or company on the Denied Persons List.

The Department of Commerce (DOC) is an executive agency of the U.S. government charged with fostering, serving, and promoting economic development and technological advancement in the United States. On February 14, 1903, the U.S. Department of Commerce and Labor was established. On March 4, 1913, it was renamed the Department of Commerce, as the bureaus and offices specialized in labor were moved to the new Department of Labor.

• government

A deposit account refers to any account at a banking institution that allows account holders to add and withdraw money and safely store their funds.

Depreciable asset is generally an asset used for generating income or profit and has a useful life of more than a year and gradually reduces in value over time.

Derivative is a financial instrument whose value depends on the market value of some underlying asset.  The parties to a derivative contract essentially make a bet on the value of the underlying asset.

A design professional’s lien is a legal right, or a claim that gives a security interest in property to a person who provides design services related to that property.

A dual use item is a commodity (including software, chemicals and technologies) that has both commercial and military or proliferation applications.  This term is most often used in the context of the Commerce Control List (CCL) found in Supplement 1 to Part 774 of the Export Administration Regulations (15 C.F.R. Part 744, Supp. No. 1).