financial services

bailout

Definition from Nolo’s Plain-English Law DictionaryWhen a government, individual, or business provides emergency financial assistance to a failing business or governmental entity to keep it afloat and avoid the consequences of its collapse.

Definition...

Balloon Mortgage

A balloon mortgage is a mortgage whose payments are not large enough to pay off the entire mortage during its amortization period. Thus, the borrower must make an extra-large payment at the end of the amortization period to fully pay off the loan. For...

balloon payment

The final, oversized payment due at the maturity date of a loan. Typically used in car or home loans, the balloon payment consists of the remaining balance due under a loan, including any unpaid principal and interest.

bank

Definition from Nolo’s Plain-English Law DictionaryAn officially chartered institution empowered to receive deposits, make loans, and provide checking and savings account services. In the United States, banks are organized under federal or state...

building and loan association

Definition from Nolo’s Plain-English Law DictionaryAnother name for a savings and loan association. As the name implies, these institutions were originally meant to provide loans for building a house after the depositor had saved enough for a down payment...

Calendar Year Accounting Period

An accounting period, which for taxation purposes, begins on January 1 and ends on December 31 of the Gregorian calendar.

Call

Definition from Nolo’s Plain-English Law Dictionary1) The demand for payment of money. 2) A request to assemble. (See also: call option)

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

Cap

Definition from Nolo’s Plain-English Law DictionarySlang for maximum, as the most interest that can be charged on an adjustable rate promissory note.

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

Capital

The available assets of a business, including liquid assets (cash) and/or physical assets (machinery, buildings, and equipment).

Capital Account

A shareholder's or owner's account indicating the individual owner's investment plus net income from business operations, minus any net losses from operations, and minus any withdrawals of funds by the owner for personal use.

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