money and financial problems

contingent interest

A contingent interest is defined as an interest that the holder may enjoy only upon the occurrence of a condition precedent.

For example, say Bill writes in his will that he leaves his "interest in The Centerville Café to...

Contingent trust is a trust that can only be created should certain conditions be met as stated in a person’s will. To set up a contingent trust, a person states in their will the specific conditions they wish to be met in order for the trust...

contract

A contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and...

contract implied in law

A contract implied in law, also known as a quasi-contract or a constructive contract, is an obligation created by law for the sake of justice or to avoid unjust enrichment. A contract implied in law operates as a valid contract for purposes...

contribution

Contribution is an important term in the fields of business and tort law.

Tort Law

In the field of tort law, contribution refers to an action a defendant may bring in a joint and several liability jurisdiction to recover...

corruption

Corruption is a dishonest, fraudulent, or even criminal act of an individual or organization, using entrusted authority or power to make a personal gain or other unethical or illegal benefits. Corruption happens not only in political fields...

court costs

Costs are the fees incurred for the use of a court and are seen in civil and criminal courts of all levels. Court costs usually include the initial filing fee, fees for serving the summons, complaint, and subpoenas, and fees to pay for the...

credit

Credit means the right granted by a creditor to an applicant to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment. See: 12 CFR § 1002.2(j) Business credit refers to extensions of credit...

credit card fraud

Credit card fraud is a form of identity theft that involves an unauthorized taking of another’s credit card information for the purpose of charging purchases to the account or removing funds from it. Federal law, by way of 15 U.S.C. §1643,...

credit default swap

A credit default swap (CDS) is a type of derivative contract in which two parties exchange the risk that some credit instrument will go into default. The buyer of a CDS agrees to make periodic payments to the seller. In exchange, the seller...