financial events

An irrevocable trust created by a married couple to avoid probate and minimize federal estate tax. An AB trust is created by each spouse placing property into a trust and naming someone other than his or her spouse as the final beneficiary of...

A rule preventing a creditor who sells collateral in a commercially unreasonable manner, e.g. without giving reasonable notice to the debtor, from obtaining a deficiency judgment.

See, e.g. Beardmore v. American...

1) The procedure of recording, analyzing, summarizing and classifying the financial transactions and information of a person or business which aids in accurate administration of resources.

2) A plaintiff's legal action to recover money...

At common law, an overwhelming event caused exclusively by natural forces whose effects could not possibly be prevented (e.g., flood, earthquake, tornado). In modern jurisdictions, "act of God" is often broadened by statute to include all natural...