commercial law

stock dividend

Definition from Nolo’s Plain-English Law DictionarySee: dividend

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

stock option

Definition from Nolo’s Plain-English Law DictionaryThe 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...

subcontractor

Definition from Nolo’s Plain-English Law DictionaryA 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...

subordination

Definition from Nolo’s Plain-English Law DictionaryThe 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)

Definition...

subordination agreement

Definition from Nolo’s Plain-English Law DictionaryA 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),...

subprime loan

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...

subscribe

Definition from Nolo’s Plain-English Law Dictionary1) 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...

Subsidiary

An entity (e.g., a corporation) in which another entity has a controlling share.

Substantial Impairment

Under Article 2 of the Uniform Commercial Code, when dealing with installment contracts for the sale of goods, substantial impairment is the standard used to determine if a buyer has the right to reject tender by the seller, where tender is not perfect...

Substantial Performance

The standard used under common law to evaluate the performance of contracts. The parties performing the contract must meet the standard of substantial performance of the contract only, and performance therefore does not have to be perfect. The standard...

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