Tag: laws
Waiver Of Exemption
What is 'Waiver Of Exemption' A provision in a consumer credit contract or loan agreement that permitted creditors to seize or threaten...
Garnishment
DefinitionGarnishment is an American legal process for collecting a monetary judgment on behalf of a plaintiff from a defendant. Garnishment allows the plaintiff to...
Generation-Skipping Transfer Tax (GSTT)
What is 'Generation-Skipping Transfer Tax - GSTT' A tax incurred when there is a transfer of property by gift or inheritance to...
General Provisions
What are 'General Provisions'
General provisions are balance sheet items representing funds set aside by a company as assets to pay for anticipated future losses....
Ultra Vires Acts
What is 'Ultra Vires Acts' Any act that lies beyond the authority of a corporation to perform. Ultra Vires acts fall outside...
Bankruptcy
DefinitionBankruptcy is a legal status of a person or other entity that cannot repay debts to creditors. In most jurisdictions, bankruptcy is imposed by...
National Organization Of Life And Health Insurance Guaranty Associations (NOLHGA)
What is 'National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA' NOLHGA is a voluntary organization of U.S. life- and...
Law of Diminishing Marginal Returns
DefinitionIn economics, diminishing returns is the decrease in the marginal output of a production process as the amount of a single factor of production...
Joint Stock Company
Definition
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns...
National Securities Markets Improvement Act (NSMIA)
What is 'National Securities Markets Improvement Act - NSMIA' Passed by the U.S. Congress in 1996, the NSMIA was an attempt to...