commercial law

Contract of Adhesion

See Adhesion contract.



A person or business that agrees to conduct work for another entity as specified under the terms of a contract. Unlike employees, contractors are independent entities that do not work exclusively for one person or business and are subject to...

Contractual Lien

Name for a category of liens that stem from contracts and do not depend on the common law or statutes for their existence. A contractual lien is essentially a contract that gives a security interest in property to one of the parties involved. One...


Definition from Nolo’s Plain-English Law DictionaryThe power to direct, regulate, manage, oversee, or restrict the affairs, business, or assets of a person or entity.

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

De Jure Corporation


A business that has complied with all the requirements of its state incorporation statute and is legally allowed to do business as a corporation.

See alsoDe facto corporationCorporation


1. A retailer who purchases goods or services for resale to consumers in a principal capacity.

2. In securities law, a person who functions at least part time as an agent, broker, or principal in the business of offering, buying, selling, or otherwise...


A type of debt-creating instrument, such as a promissory note, that is not secured by a physical asset or other collateral. Companies and governments often rely on this type of instrument in order to secure capital.

Debit Card

Definition from Nolo’s Plain-English Law DictionaryA card issued by a bank that combines the functions of an ATM card and a check. A debit card can be used to withdraw cash at a bank, like an ATM card. It can also be used like a check at stores, to pay...

Debt Collector

Definition from Nolo’s Plain-English Law DictionarySomeone who works in the in-house collections department of an original creditor or for a collection agency to track down debtors and get them to pay what they owe. (See also: Fair Debt Collection...


In general, someone who owes an obligation to someone else. Most commonly, an obligation to pay money. In specific contexts:

1. In bankruptcy law, someone who files a voluntary bankruptcy petition, or against whom an involuntary bankruptcy...