commercial law

Artisan's Lien

A type of lien that gives workers a security interest in personal property until they have been paid for their work on that property. Essentially, a mechanic's lien by another name.

bailee (custodian)

Definition from Nolo’s Plain-English Law DictionaryA person with whom some article is left, usually pursuant to a contract, who is responsible for the safe return of the article to the owner when the contract is fulfilled. Examples include banks holding...

Bilateral investment treaty

Bilateral investment treaties (or, BITs) are international agreements establishing the terms and conditions for private investment by nationals and companies of one state in another state.

The first generation of these treaties were Friendship,...

Bill of lading

Document used in foreign trade, which acknowledges that a company has received goods for transportation.


In the law of secured transactions, refers to a buyer in the ordinary course of business. In order to qualify as this the buyer must purchase particular goods in good faith, without knowledge that the sale violates another individual's rights in...


In general, an obligation. More specifically:

1. In commercial law, a borrower's obligation to pay a stated amount of money after a stated amount of time.

2. In criminal law, an obligation to pay the court if a defendant fails to meet...


A rule adopted by an organization to govern its internal operations and external dealings. Bylaws are most commonly associated with corporations.


Call generally means to request or to use an option. Call has a few different meanings that arise in the legal context:

A person “calls” an option when they choose to use a call option for buying an asset. The person gets to buy a...

Capitalized Expenditure

As opposed to an ordinary (or operating expense), which covers the day-to-day costs necessary to keep a business running, a capitalized expenditure is an expense that is made to 1) acquire an asset (whether tangible or intangible) that has a...

Capitalized Interest

Capitalized interest refers to accrued interest on an asset or loan that is not immediately reported on the company’s income statement as an expense like other interests. Instead, the corporation’s balance sheet reflects the interest in the...