commercial law

Resale Price Maintenance Agreements

Resale Price Maintenance Agreements or (RPM) are arrangement where resellers agree that they will sell product or products at certain prices at or above price floor (minimum RPM) or at or below a price ceiling (maximum RPM).

Early in the 20th...

Restitution

Refers both to disgorging something which has been taken, and to compensation for loss or injury done.

In civil cases: A remedy associated with unjust enrichment in which the amount of recovery is typically based on the defendant's gain rather...

retained earnings

Definition from Nolo’s Plain-English Law DictionaryThe accumulated profits of a corporation that are not paid out as dividends. Instead, the money is reinvested in the core business or used to pay off debt. Also called accumulated earnings or earned...

sale

Definition from Nolo’s Plain-English Law DictionaryThe transfer of ownership (title) to property in return for money (or another thing of value) on terms agreed upon between buyer and seller.

Definition provided by Nolo’s Plain-English Law Dictionary....

Sales

Sales Law: an overview

Transactions for the sale and leasing of goods is governed mainly by sales laws of each state. Every state, with the exception of Louisiana, has adopted Article Two of the Uniform Commercial Code (UCC) as the main body of law...

Sanctity of contract

A general idea that once parties duly enter into a contract, they must honor their obligations under that contract.

See Efficient breach theory (contrast).

Sarbanes-Oxley Act

The Sarbanes-Oxley Act (SOX) is a federal act passed in 2002 with bipartisan congressional support to improve auditing and public disclosure in response to several accounting scandals in the early-2000s. The act was named after the bill...

Section 1244 Stock

Section 1244 stock is a stock transaction pursuant to the Internal Revenue Code provision that allows shareholders of an eligible small business corporation to treat up to $50,000 of losses (or, in the case of a husband and wife filing a...

Secured transaction

A deal in which a buyer or borrower (called a debtor) guarantees payment of an obligation by giving a security interest in property to the seller or lender (called a secured party). The property in which a security interest exists is called collateral...

Secured transactions

Secured Transaction Law: an overview

A security interest arises when, in exchange for a loan, a borrower agrees in a security agreement that the lender (the secured party) may take specified collateral owned by the borrower if he or she should default...

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