Definition provided by Nolo’s Plain-English Law Dictionary.
commercial activities
unearned income
Definition from Nolo’s Plain-English Law DictionaryIncome from investments, such as interest, dividends, or capital gains, or any other income that isn't compensation for services.
Uniform Resource Locator (URL)
A Uniform Resource Locator, or URL is the address of a specific location on the web. As explained by the Computer Security Resource Center, a URL is a reference to a web resource that specifies its location on a computer network and a...
Uniform Transfer-on-Death Securities Registration Act
Uniform Transfer-on-Death Securities Registration Act (UTODSRA) is an act that enables people to designate beneficiaries to inherit their stocks, bonds, bank accounts or other securities without the need for probate. The registration process...
unincorporated business organization (UBO)
An unincorporated business organization (UBO) is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property...
uninsured motorist clause
Uninsured motorist clause is part of some car insurance policies which provides coverage for bodily injuries of the driver and their passengers if (1) the other driver did not have car insurance and (2) the other driver was at fault. Not...
universal life insurance
Universal life insurance is a type of life insurance that lasts for the life of the insured and has flexible premiums, death benefits, and cash value. Universal life insurance operates similarly to whole life insurance in that the insured...
unlawful detainer
An unlawful detainer, also known as an eviction lawsuit, is a summary proceeding to determine the right to possession of real property. Moreover, the sole issue in an unlawful detainer action is possession of the premises, and no other issue...
unseasoned issuer
An unseasoned issuer is any issuer subject to period reporting requirements, i.e. is a public company, but who is not eligible to file a Form S-3 or a Form F-3 for a primary offering, i.e. is not a seasoned issuer or a well-known seasoned...
usurious
Usurious is an adjective that means practicing, constituting, or amounting to usury; charging an illegally high interest rate on a loan.
[Last updated in August of 2021 by the Wex Definitions Team]
usury
Usury is interest that a lender charges a borrower at a rate above the lawful ceiling on such charges; a contract upon the loan of money with an illegally high interest rate as a condition of the loan. Usury is also the act of making a loan...