A third party beneficiary is a person benefiting from a contract made between two other parties, where the two contracting parties intended to benefit the third party beneficiary. The third party beneficiary is not a party to the contract,...
commercial transactions
third-party beneficiary
A third-party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract. The privity of the contract is between the contracting parties - the promisor and...
tontine
Tontine is an investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies.
In simpler terms, tontine is an investment scheme in which the so-called...
toxic mold
Toxic mold is a term that is used to describe types of mold that are considered deadly to humans. Toxic mold encompasses hundreds of species of mold, a small fraction of which are not very harmful to the human body. Mold is a form of fungus...
trade regulation
The terms commerce and trade are often used interchangeably, with commerce referring to large-scale business activity and trade describing commercial traffic within a state or a community. The U.S. Constitution, through the Commerce Clause,...
trade secret
The Uniform Trade Secrets Act (UTSA) is a piece of legislation created by the Uniform Law Commission (ULC). The UTSA defines trade secrets and describes claims related to trade secrets. As of 2024, 48 states, the District of Columbia, the U.S...
transfer agent
A transfer agent is an agent, usually a commercial bank or trust company, appointed by a corporation to keep legal records of all the corporation's stockholders. The transfer agent updates these records when stock is transferred, issued or...
Transmission Control Protocol (TCP)
Transmission Control Protocol (TCP) is a primary internet protocol that enables the transmission of data between different devices on the same network. TCP is designed to ensure the safe delivery of messages over internet networks and in...
transmittal letter
A transmittal letter is a letter that accompanies some object and serves as a record of that object being delivered. The object being delivered is often a paper document (e.g., a pleading), but may also be a larger physical object (e.g.,...
treasury stock
Treasury stock is a type of stock that has been reacquired by the issuing corporation. While held by the issuer, the stock is considered issued but not outstanding, and is not considered in measuring the value of outstanding common shares....