Collateral refers to an asset that a borrower offers to a lender as security for a loan. The collateral serves as protection for the lender in the event that the borrower is unable to repay the loan. If the borrower defaults on the loan, the lender can seize the collateral and sell it in order …
Common law is a system of law that is based on judicial precedents, as opposed to statutory law. This means that common law is derived from the decisions of judges, rather than from statutes enacted by legislatures. In countries that have a common law system, judges play a key role in developing the law, and …
Common stock is a type of securities that represents ownership in a corporation. The holder of common stock has the right to vote on corporate matters, receive dividends, and participate in the growth of the corporation. Common stock is issued by a corporation in return for cash or other assets.
A company’s domicile is the country in which it is legally incorporated. The domicile of a company is usually the country in which it has its registered office, but this is not always the case. A company may have its registered office in one country but its principal place of business in another. The term …
A corporate body is a legal entity that is created by a group of people for the purpose of achieving a common goal. The most common type of corporate body is a corporation, which is a legal entity that is owned by shareholders and operated for the benefit of its shareholders. Other types of corporate …
A covenant is an agreement between two or more parties. The agreement can be either written or verbal, and it typically involves some type of exchange. For example, one party may agree to provide goods or services to another party in exchange for something of value. Covenants are often used in business contracts, property leases, …
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