A charity is a nonprofit organization whose efforts are focused on aiding those in need. This can take several forms, which can be local or international in scope. Some raise money or provide services like food, clothing, or shelter to underprivileged communities. Others promote the welfare of animals through research, shelters, rehabilitation, or conservation efforts.
Chattel mortgage is an antiquated term for a mortgage on movable personal property (“chattel”), such as machinery or a vehicle (as opposed to real estate), where the lender holds an interest in the property as security/collateral for the loan.
Chattel paper is a legal document that records a monetary obligation from one party to another and a security interest used in secured transactions to sell property on credit while retaining some interest in the property. (See: UCC § 9-102)
Kiting or check-kiting is the practice of covering a bad check from one bank account to another. Persons with multiple bank accounts use this advantage because it takes multiple days to process checks.
Child custody issues arise most commonly in cases of divorce.
The Chinese Exclusion Act, signed into law on May 6, 1882, by President Chester A. Arthur, was an act of Congress that effectively terminated Chinese immigration for ten years and prohibited the Chinese from becoming U.S. citizens.
Church and State is defined as a legal doctrine that provides for the separation of the State from religion in the United States.
Churn, in the context of stock trading, means making numerous risky and excessive transactions to generate high commissions against the customer's character of account and objectives by a broker.
See: Churning
[Last reviewed in December of 2021 by the Wex Definitions Team]
Churning, which is also referred to as excessive trading, is the frequent buying and selling of securities by a stock broker using a customer’s account with the main purpose of promoting the broker’s personal gains, such as generating commission, instead of promoting the customer’s primary investment goals.
