DEED OF SURRENDER
A legal document that transfers property ownership for a specified time period, provided certain conditions are met. Basically, a deed of surrender allows one to relinquish his/her claims on a particular piece of property to the individual holding the underlying title, making it possible to settle any outstanding claims on the property. In addition to commercial property deals, deeds of surrender can also be used to relieve tenants of their lease obligations. In exchange for relinquishing their rights to a given rental property, the tenant is released from further claims and demands relating to the lease.
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Hedge Clause
A disclaimer found in financial documents that protects authors of financial reports from liability for errors within the report.
8-a Firm
Company owned and operated by individual that is socially or economically disadvantaged. Such firms are qualified for financial assistance, mentori ...
Credit Cliff
Slang term for compounding a firm’s credit deterioration due to provisions such as financial covenants, or events that ignites a change in it ...
Default Judgment
A binding judgment issued by a court in favor of the plaintiff when the defendant fails to respond to a court summons or fails to appear in court. ...
Upstream Guarantee
Upstream Guarantee is a contingent liability on a the financial statements of a subsidiary. In this contingent liability, the subsidiary guarantees ...
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