by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Kiting? When someone uses a financial document or instrument fraudulently, they are said to be kiting. For example, kiting occurs when one alters the value of a financial instrument such as a check in order to gain financial leverage or when one intentionally...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Guarantee? A Guaranty/ Guarantee is a legally binding agreement in which a person (first party) agrees to be answerable for another person (second party), who wishes to obtain trust or credit from someone/institution (third party), and promises to fulfill...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is the Convention on Contracts for the International Sale of Goods (CISG)? Contracts for the International Sale of Goods (CISG), also referred to as Vienna Convention, is a treaty that was formed by the United Nation in order to create a uniform international...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Cash Against Documents (CAD)? Cash Against Documents, also known as Documents Against Payment, is a characteristic of a letter of credit used in international sales transactions. Read more on How a Letter of Credit works. It is an alternative to Documents...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Cross Collateralization? Cross-collateralization refers to the act of utilizing an asset as collateral in a loan, and that asset is currently used as collateral for another loan. How Does Cross Collateralization Work? Cross-collateral refers to a method that...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Cosigner? Cosigning is a situation where two people merge to sign for a loan in order to guarantee payment. By you placing your signature it means that you will respect the terms and conditions of the loan in case the other party defaults How Does Cosigning...
