1) To sign at the end of a document. The courts have been flexible in recognizing signatures elsewhere on a contract or will, on the theory that a document should be found valid if possible. 2) To order and agree to pay for an issue of stock, bonds, limited partnership interest, investment, or periodical magazine or newspaper.
A loan made to a borrower who is ineligable for the best market rates (prime rates), but rather at a higher rate of interest because of increased risk factors (the bank fears they are less likely to repay the loan due to lack of collateral or low income).
The process by which a creditor holding a priority debt agrees to accept a lower priority for the collection of its debt in a deference to a new debt. (See also: subordination agreement)
A written contract in which a lender who has secured a loan by a mortgage or deed of trust agrees with the property owner to subordinate its loan (accept a lower priority for the collection of its debt), thus giving the new loan priority in any foreclosure or payoff. The agreement must be acknowledged by a notary so that it can be recorded in the official county records. (See also: subordination)
A person or business that contracts with an independent contractor to perform some portion of the work or services on a project which the independent contractor has agreed to perform. In building construction, subcontractors may include such trades as plumbing, electrical, roofing, cement work, and plastering.
The right to purchase stock in the future at a price set at the time the option is granted (by sale or as compensation by the corporation). To actually obtain the shares of stock the owner of the option must exercise the option by paying the agreed upon price and requesting issuance of the shares.
The inventory held by a business for sale.