commercial law

Full Disclosure

Definition from Nolo’s Plain-English Law Dictionary1) The need in certain situations (such as real estate transactions) for both parties to tell the whole truth about all information relevant to the transaction. 2) Securities and Exchange Commission rule...

Fungible Things

Definition from Nolo’s Plain-English Law DictionarySometimes called "fungibles," they are goods which are interchangeable, often sold or delivered in bulk, since any load is as good as another. Grain or gravel are fungibles, as are securities which are...

Garageman's Lien

A type of lien that gives a security interest in an automobile to someone who performs work on it. Essentially, a mechanic's lien by another name.

General Agreement on Tariffs and Trade (GATT)

The General Agreement on Tariffs and Trade (GATT) is a legal agreement first signed by 23 countries on October 30, 1947 in Geneva, Switzerland. The GATT aimed “substantial reduction of tariffs and other trade barriers and the...


In trademark law, the status of a word or symbol commonly used to describe an entire type of product or service rather than to distinguish one product or service from another. An example is "raisin bran," used by several manufacturers of breakfast...


A process by which a trademark owner loses trademark rights because the trademark is used widely and indiscriminately to refer to a type of product or service. For example, escalator was originally a protected trademark used to designate the moving...


Under Article 9 of the UCC, this refers to all things that are moveable when a security interest attaches including crops, fixtures, timber to be cut and removed, manufactured homes, and the young of animals that are unborn.


Income is money or value that an individual or business entity receives in exchange for providing a good or service or through investing capital. Investopedia. Commonly used in economics is the Haigs-Simon model of income, which considers the...


Any individual who files the articles of incorporation on behalf of a business, thereby incorporating the business.

See also

IncorporateArticles of Incorporation