Glossary Archive

Bifurcated Mortgage Agreement A bifurcated mortgage agreement is a type of financing arrangement where the mortgage is divided into two separate components, typically distinguishing between the principal amount and the interest payments. This structure allows borrowers to manage their payment obligations more effectively and can provide lenders with clearer security for their investments. In a...

Bilateral Dispute Resolution Treaties Bilateral Dispute Resolution Treaties are formal agreements between two sovereign nations that establish a framework for resolving disputes that may arise in the course of their interactions. These treaties typically aim to provide a systematic approach to conflict resolution, promoting diplomatic dialogue and reducing the likelihood of escalation to more serious...

Bilateral Investment Treaty Arbitration Bilateral Investment Treaty (BIT) Arbitration refers to a mechanism for resolving disputes between foreign investors and host states under the framework established by bilateral investment treaties. These treaties are agreements between two countries designed to promote and protect investments made by investors from one country in the other country. BITs typically...

Binding Arbitration Binding arbitration is a method of resolving disputes outside of the traditional court system, where the parties involved agree to submit their conflict to a neutral third party, known as an arbitrator, for a final and binding decision. This process is often outlined in contracts, where it specifies that any disputes arising from...

Blanket Mortgage A blanket mortgage is a type of mortgage that covers more than one piece of real estate, allowing a borrower to finance multiple properties under a single loan agreement. This financial instrument is commonly used in real estate development and investment scenarios where several properties are purchased or developed at once. The primary...

A Blind Trust is a fiduciary arrangement in which a person, known as the grantor, transfers the management of their assets to a trustee without the grantor's knowledge or control over the specific investments made by the trustee. In a blind trust, the grantor does not know the details of the trust's assets or how...

Board of Directors Resolution A Board of Directors Resolution is a formal document that records decisions made by a corporation's board of directors during a meeting. It serves as an official record of the actions taken and the decisions made regarding various matters affecting the corporation. These resolutions can cover a wide range of topics,...

Bona Fide Purchaser A Bona Fide Purchaser refers to an individual or entity that buys property or assets in good faith, without notice of any adverse claims or defects in the seller's title. The concept plays a significant role in property law, particularly in determining the rights of parties involved in transactions involving real estate...

Bona Vacantia Clause The Bona Vacantia Clause refers to a legal principle that applies in the context of unclaimed assets or property. In general terms, it indicates that any property or assets that have no identifiable owner or have been abandoned can be claimed by the state or government. In more detailed legal contexts, the...

The Bond Requirement refers to a legal obligation that requires an individual or entity to obtain a bond—a type of insurance policy or guarantee—before being appointed to a specific position, such as an executor of an estate or a trustee of a trust. This requirement is often set to protect the interests of beneficiaries and...