by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is the Uniform Commercial Code?The Uniform Commercial Code (UCC) is a set of model business laws related to business transactions and financial contracts in the United States. The UCC, as a Model law, is a set of systematic (standardized) business laws that...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is an Unsecured Loan?An unsecured loan is a loan issued without any collateral or guarantor. Unlike a secured loan, an unsecured loan is issued without any protection or collateralization.Contrary to a secured loan, unsecured loans are generally only available to...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Subordinated Debt? A subordinated debt or subordinated loan is a loan or security which is prioritized lower than other loans or securities on the occasions of bankruptcy or liquidation. That means, if the borrower defaults or is insolvent, the subordinated...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What are Terms of Service (TOS) or Terms of Use?Terms of Service (TOS) are often found on software service or web-based based product. It is a phrase that contains rules and regulations that purchasers are expected to abide by when they buy the products. TOS are terms...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Tax Lien?A Tax lien is a legal claim that the government has over a non-compliant taxpayers properties or assets. A tax lien arises when an individual or business fails to pay taxes owed to the taxing authority (Federal, State, or Local government). Tax...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is an Acceleration Clause?An acceleration clause is a contract provision that permits a lender to demand an entire amount owed on a loan when the borrower breaches a loan agreement. Acceleration clause or contract commonly occur in real estate, mortgages, and...
