banking

Chapter 13 plan

Chapter 13 of the United States Bankrupcty Code allows individuals with regular income to develop a plan to repay some or all of their debts. Debtors are required under this chapter to propose a repayment plan to make installment payments from the...

Chapter 7 Bankruptcy

When a debtor becomes insolvent and the bankruptcy proceeding begins, the debtor will either liquidate its assets or reorganize its debts. The liquidation route is governed by Chapter 7 of the Bankruptcy Code.

In a liquidation, the assets of...

Charter

1. Broadly, the highest law of an entity. More specifically:

(a) In corporate law, the articles of incorporation.

(b) In public law, the instrument by which a municipality is incorporated (e.g., city charter). This type of charter...

Chattel Mortgage

An antiquated term for a mortgage on personal goods (as opposed to real estate) where the lender holds an interest in the property as security for the loan. Today these arrangements are referred to as "security agreements".

Chattel Paper

In secured transactions, a document used to sell property on credit while retaining some interest in the property. Chattel paper must show: (1) a monetary obligation from Party A to Party B, and (2) a security interest or other interest retained in...

Check

Definition from Nolo’s Plain-English Law DictionaryA draft upon a particular account in a bank, in which the drawer or maker (the person who has the account and signs the check) directs the bank to pay a certain amount to the payee. (See also: negotiable...

Check-flashing

Definition

See kiting.

Check-kiting

Definition

See kiting.

Churning

An unethical business practice by some stock brokers where excessive trade is made in a client's account in order to generate more commission from the account. Churning prohibited by many securities laws and is judicially actionable.

Closed-end Loan

A closed-end loan is a loan given with a specified date that the debtor must repay the entire loan and interest. These loans are normally disbursed all at once in order for the debtor to buy or achieve a specific thing, and often, the...

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