forced sale :: n. a sale of goods seized by the sheriff to satisf ... ay) a judgment. See also: execution
sheriff's sale :: n. an auction sale of property held by the sheriff ... so: execution forced sale levy writ
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
bulk sale :: n. the sale of all or a large part of a merchant's ... entories. See also: bulk sales acts
bulk sales acts :: n. state laws (spelled out in the Uniform Commerci ... g without paying current creditors.
resale :: n. selling again, particularly at retail. 2) adj. ... ction of sales tax on retail sales.
conditional sale :: n. a sale of property or goods which will be compl ... ng by September 1st. See also: sale
sale :: n. transfer of something (and title to it) in retu ... contract forced sale sheriff's sale
tax sale :: n. an auction sale of a taxpayer's property conduc ... government to collect unpaid taxes.
bill of sale :: n. a written statement attesting to the transfer ( ... ther provisions. See also: contract
judicial sale :: n. a sale of goods by an official (keeper, trustee ... o be sold. See also: sheriff's sale
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
levy :: 1) v. to seize (take) property upon a writ of exec ... heriff's sale tax writ of execution
pro forma :: 1) prep. Latin for "as a matter of form," the phra ... se in annual sales or 6% inflation.
privity :: n. contact, connection or mutual interest between ... with the seller. See also: contract
property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax
prospectus :: n. a detailed statement by a corporation required ... rporation limited partnership stock
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
puffing :: n. the exaggeration of the good points of a produc ... seller is possible. See also: fraud
public trust doctrine :: n. the principle that the government holds title t ... interest has been dubious at best.
private parts :: n. men's or women's genitalia, excluding a woman's ... duction and/or sale of pornography.
legal advertising :: n. 1) notices of probate sales and other documents ... quality of the lawyers advertising.
post :: v. 1) to place a notice on the entrance or a promi ... or recording a payment. 4) to mail.
partition :: n. a lawsuit which one co-owner of real property c ... sell, keep or divide the property.
mercantile law :: n. that broad area of the law (also called commerc ... tion seller Uniform Commercial Code
muniment of title :: n. documentary evidence of title to real property. ... also: deed quiet title action title
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
monopoly :: n. a business or inter-related group of businesses ... ust laws license restraint of trade
pornography :: n. pictures and/or writings of sexual activity int ... courts to follow. See also: obscene
rebate :: 1) n. a discount or deduction on sales price. A se ... v. to give a discount or deduction.
literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright
loss of bargain :: n. the inability to complete a sale or other busin ... ned in a lawsuit. See also: damages
market value :: n. the price which a seller of property would rece ... ich are often called "comparables."
marshal :: 1) n. a federal court official who may serve paper ... tablish priorities among creditors.
merchantable :: adj. a product of a high enough quality to make it ... taminated or flawed. See also: sale
restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
theft :: n. the generic term for all crimes in which a pers ... rglary embezzlement larceny robbery
syndicate :: n. a joint venture among individuals and/or corpor ... l dissolve. See also: joint venture
substantial performance :: n. in the law of contracts, fulfillment of the obl ... also: contract specific performance
stock option :: n. the right to purchase stock in the future at a ... hares. See also: option share stock
third-party beneficiary :: n. a person who is not a party to a contract but h ... tract as a third-party beneficiary.
trade :: 1) n. a business or occupation for profit, particu ... rade fixture trade secret trademark
use tax :: n. a state tax on goods purchased in another state ... e" tax equivalent to its sales tax.
warranty :: n. a written statement of good quality of merchand ... of the contract. See also: warrant
Uniform Commercial Code :: n. a set of statutes governing the conduct of busi ... s except Louisiana. See also: UCC-1
trader :: in U.S. income tax law, a person who deals in prop ... ultation with a C.P.A. or attorney.
trademark :: n. a distinctive design, picture, emblem, logo or ... ing trademark. See also: trade name
stock in trade :: n. the inventory of merchandise held for sale. ... ntory of merchandise held for sale.
stock :: 1) n. inventory (goods) of a business meant for sa ... siness. See also: share shareholder
royalty :: n. a percentage of gross or net profit or a fixed ... also: copyright infringement patent
seduction :: n. the use of charm, salesmanship, promises, gifts ... ry breach of promise date rape rape
leasehold :: n. the real estate which is the subject of a lease ... sehold. See also: condominium lease
restraint of trade :: n. in antitrust law, any activity (including agree ... also: antitrust laws monopoly trust
reentry :: n. taking back possession and going into real prop ... ages. See also: landlord and tenant
sell :: v. to transfer possession and ownership of goods o ... of equivalent value. See also: sale
seller :: n. one who sells goods or other property to a buye ... er (purchaser). See also: sale sell
speculative damages :: n. possible financial loss or expenses claimed by ... future customers. See also: damages
sheriff :: n. the top law enforcement officer for a county, u ... ." See also: bailiff sheriff's sale
severable contract :: n. an agreement which is made up of several separa ... e also: breach of contract contract
separate property :: n. in community property states (California, Texas ... pouse. See also: community property
recapture :: n. in income tax, the requirement that upon sale o ... capital gains. See also: income tax
joint :: adj., adv. referring to property, rights or obliga ... ncy joint venture tenancy in common
broker :: n. in general, a person who arranges contracts bet ... security ("hocked") at high rates.
bulk transfer :: bulk sale ... bulk sale
breach of warranty :: n. determination that a statement as to title of p ... See also: implied warranty warranty
benefit :: 1) n. any profit or acquired right or privilege, p ... fit Ken Murray." See also: contract
basis :: n. the original cost of an asset to be used to det ... ssistance. See also: adjusted basis
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
churning :: n. the unethical and usually illegal practice of e ... f obtaining high sales commissions.
commission :: n. 1) a fee paid based on a percentage of the sale ... on or the Federal Trade Commission.
consign :: v. 1) to deliver goods to a merchant to sell on be ... or by order of a bankruptcy judge.
commercial law :: n. all the law which applies to the rights, relati ... . See also: Uniform Commercial Code
closing :: n. the final step in the sale and purchase of real ... company, escrow holder or attorney.
clerk :: n. 1) an official or employee who handles the busi ... stocking shelves, or counter sales.
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
balance sheet :: n. the statement of the assets and the liabilities ... ctivity and health of the business.
addendum :: n. an addition to a completed written document. Mo ... proposals or included fraudulently.
advance :: n. a payment which is made before it is legally du ... uthor, or a note is due to be paid.
acceptance :: n. 1) receiving something from another with the in ... ered into. See also: contract offer
acceleration clause :: n. a provision in a contract or promissory note th ... . See also: acceleration assumption
acceleration :: n. 1) speeding up the time when there is vesting ( ... See also: acceleration clause vest
and :: conj. this little word is important in law, partic ... ds "or," but not if it reads "and."
apparent authority :: n. the appearance of being the agent of another (e ... e also: agency ostensible authority
assignee :: n. a person to whom property is transferred by sal ... rly real property. See also: assign
bait and switch :: n. a dishonest sales practice in which a business ... rants the costs of a separate suit.
assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property.
as is :: adj. description of a condition in a sales contrac ... es to cancel the "as is" provision.
appraise :: v. to professionally evaluate the value of propert ... surance claims. See also: appraiser
consignee :: n. a person or business holding another's goods fo ... designated agent. See also: consign
conspiracy :: n. when people work together by agreement to commi ... d conspiracy. See also: conspirator
full disclosure :: n. the need in business transactions to tell the " ... icant fact. See also: caveat emptor
goods :: n. items held for sale in the regular course of bu ... of business, as in a retail store.
frustration of purpose :: n. sometimes called commercial frustration, when u ... n. See also: commercial frustration
free and clear :: adj. referring to the ownership of real property u ... the title has no claim against it.
foreign corporation :: n. a corporation which is incorporated under the l ... tate or Whoopee's designated agent.
goodwill :: n. the benefit of a business having a good reputat ... an unknowing buyer. See also: sale
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
joint venture :: n. an enterprise entered into by two or more peopl ... s terminated. See also: partnership
judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage
abstract of judgment :: n. a written summary of a judgment which states ho ... aying the debt. See also: levy lien
insider :: n. someone who has a position in a business or sto ... ange Act. See also: insider trading
in lieu :: prep. instead. "In lieu taxes" are use taxes paid ... go through the foreclosure process.
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
fair trade laws :: n. state laws which permit manufacturers or produc ... state constitutions in many states.
covenant not to compete :: n. a common provision in a contract for sale of a ... the sales price. See also: covenant
dealer :: n. anyone who buys goods or property for the purpo ... ins taxes by buying other property.
cooperative housing :: n. an arrangement in which an association or corpo ... common area condominium cooperative
controlled substance :: n. a drug which has been declared by federal or st ... those who have used the substances.
consumer protection laws :: n. almost all states and the federal government ha ... rranty product liability securities
deficiency judgment :: n. a judgment for an amount not covered by the val ... o: foreclosure judicial foreclosure
delivery :: n. the actual handing to another of an object, mon ... rties. See also: contract deed sale
factor :: n. 1) a salesman who sells in his/her own name on ... ing that contributes to the result.
fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value
execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution
excise :: n. a tax upon manufacture, sale or for a business ... s redundantly called an excise tax.
exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange
landlord's lien :: n. the right of a landlord to sell abandoned perso ... to the ex-tenant and a public sale.