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Title retention clause. A retention of title clause (also called a reservation of title clause or a Romalpa clause in some jurisdictions) is a provision in a contract for the sale of goods that the title to the goods remains vested in the seller until the buyer fulfils certain obligations (usually payment of the purchase price).
Property can be considered lost, mislaid, or abandoned depending on the circumstances under which it is found by the next partywho obtains its possession. An old saying is that "possession is nine-tenths of the law", dating back centuries. This means that in most cases, the possessor of a piece of property is its rightful owner without evidence ...
Equity stripping, also known as equity skimming, is a type of foreclosure rescue scheme. Often considered a form of predatory lending, equity stripping became increasingly widespread in the early 2000s. In an equity stripping scheme an investor buys the property from a homeowner facing foreclosure and agrees to lease the home to the homeowner ...
Holder in due course. In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and ...
A transfer case is an intermediate gearbox that transfers power from the transmission of a motor vehicle to the driven axles of four-wheel-drive, all-wheel-drive, and other multi-axled on- and off-road machines. A part of the vehicle's drivetrain, it employs drive shafts to mechanically deliver motive power. The transfer case also synchronizes ...
Contingent contract. A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events ...
Mortgage assumption is the conveyance of the terms and balance of an existing mortgage to the purchaser of a financed property, commonly requiring that the assuming party is qualified under lender or guarantor guidelines. [1] All mortgages are potentially assumable, though lenders may attempt to prevent the assumption of a mortgage loan with a ...
Disposal of human corpses, also called final disposition, is the practice and process of dealing with the remains of a deceased human being.Disposal methods may need to account for the fact that soft tissue will decompose relatively rapidly, while the skeleton will remain intact for thousands of years under certain conditions.