A boiler room is a telephone operation where salespeople cold-call a list of potential investors, in an attempt to get them to invest in stock, services, or goods. These salespeople may convince people to invest by making false claims,...
commercial activities
bona fide purchaser
A bona fide purchaser is someone who exchanges value for property without any reason to suspect irregularities in the transaction. By definition, a bona fide purchaser cannot have actual or constructive notice as to defects in the seller’s...
bond
A bond refers to an obligation to pay a specified amount of money.
In the field of business, a bond functions similar to a loan and is sold by entities seeking an inflow of cash now in exchange for the promise of future interest on...book account
A book account is a record of all the financial information of a person or business. It is a statement of the debit and credit of an individual which also shows the amount of debt a person owes at any given time. In terms of a business’s book...
book value
Book value (also known as net asset value) is a way of measuring a business’s value or worth (valuation) using its tangible assets by taking the value of a business’s material assets minus its liabilities. Since book value does not include...
bookkeeper
A Bookkeeper refers to a corporation’s or organization’s financial record keeper. This person will usually be in charge of keeping records of the company’s accounts, expenditures, earnings, profits, losses, receipts, etc. Bookkeepers and...
boot
Boot refers to “something that is given in addition to.” Boot is the money or other property which is added to an exchange to equalize the value of a trade.
In the context of like-kind property under Internal Revenue Code...
breach of contract
A breach of contract occurs whenever a party who entered a contract fails to perform their promised obligations. Due to the frequency of breaches of contract, a robust body of law has grown to resolve the ensuing disputes.
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breach of warranty
Breach of warranty is defined as the violation of an express or implied contract of warranty, and thus it is a breach of contract. Essentially, it occurs when the warrantor fails to provide the assurance warranted. A seller can expressly or...
bribery
Bribery is defined generally as corrupt solicitation, acceptance, or transfer of value in exchange for official action.
Overview:Bribery refers to the offering, giving, soliciting, or receiving of any item of value as a...