commercial law


securities law: an overview

Securities law exists because of unique informational needs of investors. Securities are not inherently valuable; their worth comes only from the claims they entitle their owner to make upon the assets and earnings of the...

Securities and Exchange Commission (SEC)

The Securities and Exchange Commission (SEC) is a federal administrative agency tasked with monitoring markets, enforcing securities laws, and developing new regulations. Congress established the SEC in the Securities Exchange Act of 1934,...

Securities Exchange Act of 1934


The Securities and Exchange Act of 1934 ("1934 Act," or "Exchange Act") primarily regulates transactions of securities in the secondary market. As such, the 1934 Act typically governs transactions which take place between parties which are...

Self regulatory organization

Although the Securities Exchange Act of 1934 ("Exchange Act") lays out a comprehensive registration process and reporting scheme, the Act makes it clear that the Securities and Exchange Commission ("SEC") does not single-handedly ensure industry...


Definition from Nolo’s Plain-English Law DictionaryTo transfer possession and ownership of goods or other property for money or something of equivalent value.

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


Definition from Nolo’s Plain-English Law DictionaryAn individual or entity that sells goods or other property to a buyer.

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


1. The right of someone who owes money to subtract from the debt any money owed in the other direction.

2. A defedant's monetary demand against the plaintiff for some injury unrelated to the plaintiff's claim.

Sham transaction

A transaction that is unlawful or illusory. Illusory transactions that exist on paper but have no tangible consequences may be voided in court, especially if used as a tax shelter or other deceptive device.

Shipment Contract

Under Article 2 of the Uniform Commercial Code, a shipment contract is one way in which buyer and seller could contract to allocate risk of loss between buyer and seller when goods or lost or damaged before the buyer obtains them from the seller and...

Simplified Network Application Process Redesign (SNAP-R)

SNAP-R is the online system that the Department of Commerce's Bureau of Industry and Security provides to the public. Users can submit export license applications and commodity classification requests securely through this system.