Commercialization - Law Dictionary Search Results

lease

made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use

Discovery

it is not necessary either for disposing fairly of the cause or matter or for saving costs. In commercial causes (see COMMERCIAL Court) it is the usual practice for the solicitors on each side to exchange lists

cancel

through or otherwise marring the words or signature of NOTE: As stated in section 3-604 of the Uniform Commercial Code, a party that is entitled to enforce a negotiable instrument may cancel the instrument, whether or not

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company

company pl: -nies : an association of persons for carrying on a commercial or industrial enterprise compare corporation, partnership finance company : a company that makes usually small short-term loans to

cover

fails to fulfill the contract [the buyer is always free to choose between and damages for nondelivery "Uniform Commercial Code"] ;also : the substituted goods NOTE: Under the Uniform Commercial Code, when a seller does not perform

financing statement

and that is filed to provide notice to other creditors of the security interest see also perfect Uniform Commercial Code in the Important Laws section compare financial statement NOTE: Under Article 9 of the Uniform Commercial Code,

impracticability

: a defense to breach of contract on the ground that it has been rendered impracticable called also commercial impracticability impracticability of performance compare frustration impossibility of performance at impossibility NOTE: Under section 2-615 of the Uniform

holder

of another by agreement and esp. under a lease 2 a : a person who under the Uniform Commercial Code is in possession of a negotiable instrument that names and is made payable to the possessor or

recognized market

not rely on competitive bidding or haggling, and in which prices are stated publicly and presumed to be commercially reasonable NOTE: Under the Uniform Commercial Code, a creditor is not required to notify a debtor of the

attention of public/individual concerned to such information. It need not necessarily be to sell only or solely for commercial exploitation, Municipal Corporation of Greater Bombay v. Bharat Petroleum Corporation Ltd. (2002) 4 SCC 219 (227): AIR 2002

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