DECLARATION OF TRUST
A statement made by the title holder of a piece of property that the property is being held for the benefit of another person. The property is placed in a trust, with a trustee overseeing the asset. A declaration of trust is not required to be made in writing, but it often is. Some states require the declaration to be made in writing, while other states allow oral declarations to be made.
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Asset Substitution Problem
A problem which arises when a company trades its low-risk assets for high-risk investments. This substitution moves the value from the bondholders ...
Lawful Money
Any currency, in coin or paper form, that is issued by the United States Treasury, not the Federal Reserve System. It also includes gold and silver ...
Red Clause Letter Of Credit
It refers to a specific type of letter of credit where a buyer extends an unsecured loan to a seller. This permits documentary credit beneficiaries ...
Trust Certificate
Bond or debt investment backed by other assets and serve like a collateral. Normally in a public company, the assets may be seized or sold for the ...
Cowboy Marketing
Slang term for a situation in which a firm is unaware a marketer sends massive spam emails to everyone promote the stock, instead of producing legi ...
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