commercial activities

Avails

Definition from Nolo’s Plain-English Law DictionaryAny amount available to the owner of an insurance policy other than the actual proceeds of the policy. Avails include dividend payments, interest, cash or surrender value (the money you would get if you...

Bad debt

Bad debt refers to debt such as a loan or advance that a creditor can no longer recover. A debt cannot be recovered for a variety of reasons such as insolvent debtors. In the corporate context, bad debt can be a critical blow to businesses,...

Bail bondsman

A bail bondsman is a person who provides bail bonds for people charged with crimes and who do not have the money necessary to post the entire bail with the court. The bail bondsman acts as a surety by providing money to the court for the...

bailout

A bailout is when the government gives financial support to rescue a company that is in financial trouble and possibly at risk for bankruptcy. The bailout enables the survival of the company. The need for a bailout often arises out of a financial...

balance due

The amount of debt still due under an account or the principal balance remaining on a promissory note.

balance sheet

A financial statement that consists of a three-part summary of a company's assets, liabilities, and ownership equity at a particular instance in time. It is intended to show the financial condition of a company at that time.

The balance sheet...

Balloon Mortgage

A balloon mortgage is a mortgage whose payments are not large enough to pay off the entire mortage during its amortization period. Thus, the borrower must make an extra-large payment at the end of the amortization period to fully pay off the loan. For...

balloon payment

The final, oversized payment due at the maturity date of a loan. Typically used in car or home loans, the balloon payment consists of the remaining balance due under a loan, including any unpaid principal and interest.

bank

Definition from Nolo’s Plain-English Law DictionaryAn officially chartered institution empowered to receive deposits, make loans, and provide checking and savings account services. In the United States, banks are organized under federal or state...

Banking

banking: an overview

Banks and bank accounts are regulated by both state and federal statutes. Bank accounts may be established by national and state chartered banks and savings associations. All are regulated by the law under which they were...

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