by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Collateralization? In many credit agreements, a borrower is required to pledge some assets as collateral for the loan. These assets are known as “collateral”. These assets can be seized by the lender when such borrower defaults on the repayment of...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Blanket Lien? A blanket lien is a type of lien that gives a lender the legal claim of right in all assets or a group of assets of the debtor. Generally, a blanket liens attempts secure a loan by attaching assets of the debtor as collateral. Prior to default,...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Blind Trust? A blind trust is a type of trust in which the beneficiaries of the trust are not aware of the holdings of the trust; instead, the trustees have full knowledge or discretion over the holdings of the trust. Also, the grantor or trustor has no...
by Jason M. Gordon | Feb 23, 2025 | Business Entities, Corporate Governance & Ownership
What is a Board of Governors? A board of governors refers to a set of individuals who are in charge of managing the effective running of an organization. This group of people supervise the operations and activities of a business or an organization and ensures its...
by Jason M. Gordon | Feb 23, 2025 | Business Entities, Corporate Governance & Ownership
What is a Budget Committee? A budget committee is a group of individuals that prepares the financial plan of a company or country for a period of time. A budget committee is in charge of planning, creating and maintaining the budget of an organization for a specific...
