by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Bartering? Bartering takes place when two or more parties exchange goods or services instead of using money as a medium of exchange. It means if a party offers a good and service to another party, the latter also offers some good or service in return. Is...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Payment-in-Kind?Payment-in-Kind (PIK) involves allowing the use of a good or service rather than making a cash payment. Also, Payment-in-kind securities are financial tool that offers more securities or equity shares to its investors or stockholders as...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Banker’s Acceptance? A banker’s acceptance (BA) is a debt instrument which is guaranteed by a commercial bank and issued by an individual company. A bankers acceptance represents the commitment of a commercial bank to make a payment in the...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Bill Of Sale?A bill of sale is a legal document that evidences when a good is sold by a seller to a buyer. The bill of sale is a legal proof that the ownership of a property or asset has been transferred from one party to another. This bill of sale generally...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Subordination Agreement? A Subordination Agreement is a legal document that confirms that a debt is higher in rank (takes precedence) over another debt. This means that, if the debt is unpaid and the assets of the debtor are sold to paid the debt, the debt...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is an Unperfected Lien?An unperfected lien is a lien that was not filed legally or correctly by a lender. This is important, as a perfected lien is accorded priority over an unperfected lien. There are many factors responsible for unperfected liens, these...
