Business Law Assignment Example | Topics and Well Written Essays - 750 words

Business Law - Assignment Example In such a way, fair use doctrine allows for copyrighted material oftentimes displayed for specific purposes without the necessity of acquiring permission from the right holder. 3. trade secret Trade secret necessarily first you process, practice, formula, design, or other instrument or pattern which can be understood to be directly related to the means by which an economic advantage is leveraged within the company. Oftentimes, such trade secrets or confidential; however, they are protected under a different type of United States law as compared to classified information. 4. easement An easement refers to a specific right to utilize the property of another without ultimately having ownership. In this way, it can best be defined as a right of way. 5. adverse possession Adverse possession be understood as the process by which a given property changes ownership. In such a manner, the title to another individual’s property can oftentimes be seen without direct compensation. In such a way, the growth and development of squatter’s rights have, to be evidenced. 6. bailment Bailment is a defined as a type of transfer of personal property with one individual to another. Most commonly, the surprises when property is given to another individual process of safekeeping it is born out of an independent contract. 7. intestacy Intestacy is designed as situation in which individual passes away only more property than the sum of all their debts and/work funeral expenses and without making it will provide the declaration of what should be done with their belongings when they pass. 8. insurable interest Insurable interest in defined as an interest in which the insurer has a specific level of interest or other type of benefit with existence of such an object. In this way individual has insurable interest in something as long as loss or damage of this particular good would consequently serve type of financial loss stop 9. security interest Security interest can ultimate ly be understood as a type of agreement for cooperation of law over assets that help to ensure that the security of an obligation will ultimately be performed. 10. perfection (Article 9) Article 9 of the uniform code governs the way in which interests may be obtained on certain types personal property as a means of securing debt. Ultimately, this particular article defines the way in which the owner of the collateral is responsible for interacting with the holder of the collateral that is ultimately paid off. 11. commercial paper This ultimately refers to the type of unsecured promissory note with a fixed maturity date. In this way, commercial paper is often a type of non-monetized security that is sold by corporations in order to rapidly create short-term debt in order to meet current needs. 12. holder in due course Holder in due course is with reference to a commercial law that seeks to provide a level of protection to the purchaser of debt. The doctrine helps to insulate the purc haser against charges that the other party in the transaction may hold against the purchaser. 13. accommodation party An accommodation party is a type of surety bond or other type of guarantee that serves as a promise between one party and another that debt collection will be assured in the event that the borrower defaults. 14. presentment warranty The present but warranty refers to an implied promise with regards to the