law and economics

credit default swap

A credit default swap (CDS) is a type of derivative contract in which two parties exchange the risk that some credit instrument will go into default. The buyer of a CDS agrees to make periodic payments to the seller. In exchange, the seller...

credit instrument

A credit instrument is a promissory note or other written evidence of a debt. Common examples include bonds, loans, checks, or invoices.

Credit instruments are used by governments, companies, and individuals alike.

...

currency

Currency can be defined as a system of money issued by a State on a national territory, used by people in that nation, allowing to carry out monetary exchanges.

Issued by public authorities, currency is a unit of account and...

debit card

A debit card is a card issued by a bank that allows the cardholder to purchase goods and services. A debit card also allows the cardholder to withdraw money from his/her bank account through an ATM, like an ATM card. A debit card functions...

debtor and creditor

Debtor-creditor law governs situations where one party, known as the debtor, is unable to pay a monetary debt to another, known as the creditor. Debtor-creditor law typically plays out through bankruptcy proceedings.

...

debtor in possession

A debtor in possession (DIP) is an individual or corporation that has filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code and holds property or assets which can be used to satisfy creditor claims. The debtor in possession...

deduction

Deduction in tax law (referred to as a tax deductible) means an item or expense that can reduce the taxes a person owes in a given year. A deductible item is subtracted from the total taxable income which can substantially reduce taxes owed...

default

A default is a failure to fulfill an obligation. Defaulting is most common in regards to debtor-creditor law and contract law. Typically, a default leads to judicial proceedings or triggers the application of a separate contract provision....

derivative

Derivative is a financial instrument whose value depends on the market value of some underlying asset. The parties to a derivative contract essentially make a bet on the value of the underlying asset. Depending on the change in value for the...

disentail

Disentail refers to the process of converting a fee tail into a fee simple. The majority of states have passed some form of disentailing statutes.

While originally an important part of property law, fee tails (property...

Pages