A broker is defined as a person or entity that arranges contracts and acts as an intermediary between a buyer and seller for a commission. A broker is an independent party to a transaction and should not be confused with an agent who acts on...
commercial activities
bucket shop
Bucket shop refers to either a brokerage firm that illegally retains funds in a transaction or a historical enterprise that offers betting on stocks and futures without any underlying trading.
In the modern context, bucket...
building and loan association
Building and loan associations were organizations that provided loans to members for buying homes. The organizations were formed by a community of low income members that made regular payments into the fund. Members owned shares in the...
bulk sale
A bulk sale means the sale, transfer, or assignment of business assets outside of the ordinary course of business by a person or entity. Business assets include, among others, tangible personal property, real property, and intangible assets (...
bulk sales law
Bulk sales laws are the regulations applicable to a bulk sale, which may contain special rules and procedures that buyers and sellers must follow when a bulk sale transaction takes place.
Although bulk sales laws have...
bulk transfer
See: bulk sale
[Last updated in December of 2021 by the Wex Definitions Team]
burden
A burden is a generic term referring to a restriction on a use or activity. Often, the term arises in property law. For instance, real property may carry an intangible burden in the form of covenants or easements. These burdens generally...
bureaucracy
Bureaucracy is a term composed of bureau (meaning "writing desk" in old French) and -cracy (meaning "power" in Latin). A bureaucracy is a form of work organization. The historical meaning of the term refers to a body of non-elected government...
burial insurance
Burial insurance is an insurance purchased to cover the cost of burial, cremation or other disposal of a deceased remains. Burial insurance can be defined as a type of life insurance: the paid-up capital is used to cover the costs of the...
burial policy
Burial policy is an insurance policy used to cover the costs of funeral or cremation expenses for a person who has died. Burial insurance is paid out directly to the beneficiary who may need the money to cover funeral or cremation expenses,...