DISCLAIM
To renounce an interest or obligation by way of a legal instrument - usually a written disclaimer, or a disclaiming trust. Property may be disclaimed for several reasons: because it is unwanted, because it carries heavy liabilities, because of tax reasons, or because the intended beneficiary wants to pass the property to another beneficiary. Liabilities, obligations, beneficial ownership, or rights may also be disclaimed.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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Buying a Home: Closing the Deal
It’s almost done! With just a few steps away, the house that you have been dreaming of will be yours.
Choosing Your Bank
Now that you’ve learned the basics of banking and the importance of it, you are now ready to put your money in a bank. But which bank should ...
Buying a Home: Getting Into the Escrow Process
You write an offer and the seller accepts it. Deal closed. It is about time to go through the escrow process. Why does a buyer need to undergo this ...
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