by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Blank Endorsement? A Blank Endorsement occurs when a negotiable instrument (such as a check) carries the signature of the endorser but does not indicate the payee of the instrument. A signed check without a specified payee is a blank endorsement. The bearer...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Lien? A lien is a creditor’s legal claim of right in property held by a debtor. The lien serves to attach collateral (property) to a debt. In the event the debt is not paid, the lien allows the debtor to collect against the property (such as...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Bill of Exchange? A bill of exchange refers to a financial instrument explicitly used for international trade to bind one party to pay a specified amount of money to the holder of the document or another designated person. The bill of exchange is paid after...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is a Convenience Check? A convenience check is an order document (order to pay money) drawn on a credit card company. The credit card company provides the check to the cardholders who can use the check to make payment to a third party. Generally, the checks are...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Chapter 15 Bankruptcy? Chapter 15 was included in the US Bankruptcy Code in 2005. It facilitates a friendly environment for the settlement of international insolvencies. Specifically, Chapter 15 facilitates the relationship between U.S courts and foreign...
by Jason M. Gordon | Feb 23, 2025 | Commercial Law: Contract, Payments, Security Interests, & Bankruptcy
What is Chapter 9 Bankruptcy? Chapter 9 of the US Bankruptcy Code is applicable to US municipalities, including towns, counties, cities, tax districts, municipal utilities, and school districts. This chapter allows a type of reorganization that allows distressed...
