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Valid When Made
Valid when made (also sometimes valid-when-made) is a United States legal doctrine that holds that the terms of a loan, if legally valid when the loan was made, remain valid after the loan is sold or assigned to a third party. Historically, the doctrine has often been applied to loans made by national banks and then transferred to secondary lenders. Under this doctrine, debt buyers may purchase loans from national banks and collect interest at the same rate as the original lender, regardless of the usury laws of the state they operate in. The doctrine entered common law during the 19th century and was codified in a final rule by the Office of the Comptroller of the Currency in 2020. History The valid-when-made doctrine is believed to have originated with ''Nichols v. Fearson'', an 1833 case, which found that "a contract, which, in its inception, is unaffected by usury can never be invalidated by any subsequent usurious transaction." The doctrine became a part of common law af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Doctrine
A legal doctrine is a framework, set of rules, Procedural law, procedural steps, or Test (law), test, often established through precedent in the common law, through which judgments can be determined in a given legal case. A doctrine comes about when a judge makes a ruling where a process is outlined and applied, and allows for it to be Case law, equally applied to like cases. When enough judges make use of the process, it may become established as the ''de facto'' method of deciding like situations. Examples Examples of legal doctrines include: See also * Constitutionalism * Constitutional economics * Concept * Rule according to higher law * Legal fiction * Legal precedent * ''Ex aequo et bono'' References External links * *Pierre Schlag and Amy J. Griffin, "How to do Things with Legal Doctrine" (University of Chicago Press 2020) * Emerson H. Tiller and Frank B. Cross,What is Legal Doctrine? " ''Northwestern University Law Review'', Vol. 100:1, 2006. Legal doctrines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headquartered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law Rules
Common may refer to: Places * Common, a townland in County Tyrone, Northern Ireland * Boston Common, a central public park in Boston, Massachusetts * Cambridge Common, common land area in Cambridge, Massachusetts * Clapham Common, originally common land, now a park in London, UK * Common Moss, a townland in County Tyrone, Northern Ireland * Lexington Common, a common land area in Lexington, Massachusetts * Salem Common Historic District, a common land area in Salem, Massachusetts People * Common (rapper) (born 1972), American hip hop artist, actor, and poet * Andrew Ainslie Common (born 1841), English amateur astronomer * Andrew Common (born 1889), British shipping director * John Common, American songwriter, musician and singer * Thomas Common (born 1850), Scottish translator and literary critic Arts, entertainment, and media * ''Common'' (film), a 2014 BBC One film, written by Jimmy McGovern, on the UK's Joint Enterprise Law * Dol Common, a character in ''The Alchemist'' b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Doctrines And Principles
A legal doctrine is a framework, set of rules, procedural steps, or test, often established through precedent in the common law, through which judgments can be determined in a given legal case. A doctrine comes about when a judge makes a ruling where a process is outlined and applied, and allows for it to be equally applied to like cases. When enough judges make use of the process, it may become established as the '' de facto'' method of deciding like situations. Examples Examples of legal doctrines include: See also * Constitutionalism * Constitutional economics * Concept * Rule according to higher law * Legal fiction A legal fiction is a fact assumed or created by courts, which is then used in order to help reach a decision or to apply a legal rule. The concept is used almost exclusively in common law jurisdictions, particularly in England and Wales. Deve ... * Legal precedent * '' Ex aequo et bono'' References External links * *Pierre Schlag and Amy J. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assignment (law)
An assignment is a legal term used in the context of the law of contract and of property. In both instances, assignment is the process e whereby a person, the ''assignor'', transfers rights or benefits to another, the ''assignee''.For the assignment of claim seTrans-Lex.org/ref> An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee. The right or benefit being assigned may be a gift (such as a waiver) or it may be paid for with a contractual consideration such as money. The rights may be vested or contingent,. and may include an equitable interest. Mortgages and loans are relatively straightforward and amenable to assignment. An assignor may assign rights, such as a mortgage note issued by a third party borrower, and this would require the latter to make repayments to the assignee. A related concept of assignment is novation wherein, by agreement with all parties, one contracting party is replaced by a new party. While novatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volatility (finance)
In finance, volatility (usually denoted by ''σ'') is the degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option). Volatility terminology Volatility as described here refers to the actual volatility, more specifically: * actual current volatility of a financial instrument for a specified period (for example 30 days or 90 days), based on historical prices over the specified period with the last observation the most recent price. * actual historical volatility which refers to the volatility of a financial instrument over a specified period but with the last observation on a date in the past **near synonymous is realized volatility, the square root of the realized variance, in turn calculated using the sum of squ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
States' Rights
In American political discourse, states' rights are political powers held for the state governments rather than the federal government according to the United States Constitution, reflecting especially the enumerated powers of Congress and the Tenth Amendment. The enumerated powers that are listed in the Constitution include exclusive federal powers, as well as concurrent powers that are shared with the states, and all of those powers are contrasted with the reserved powers—also called states' rights—that only the states possess. Background The balance of federal powers and those powers held by the states as defined in the Supremacy Clause of the U.S. Constitution was first addressed in the case of '' McCulloch v. Maryland'' (1819). The Court's decision by Chief Justice John Marshall asserted that the laws adopted by the federal government, when exercising its constitutional powers, are generally paramount over any conflicting laws adopted by state governments. After ''Mc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Bankers Association
The American Bankers Association (ABA) is a Washington, D.C.-based trade association for the U.S. banking industry, founded in 1875. They lobby for banks of all sizes and charters, including community banks, regional and money center banks, savings associations, mutual savings banks, and trust companies. The average member bank having approximately $250 million in assets. ABA is considered the largest financial trade group in the United States. The group offers training, certification, news, research, advocacy, and community for bankers and members of the financial services in America. History The origins of the American Bankers Association are in the Panic of 1873, when St. Louis, Missouri banker James Howenstein found himself in "a tight squeeze," with only a few hundred dollars in funds and millions of deposits to pay. Relying on help and intelligence from peer bankers in the form of frequent correspondence, Howenstein escaped his dilemma and realized the value of a banker ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certiorari
In law, ''certiorari'' is a court process to seek judicial review of a decision of a lower court or government agency. ''Certiorari'' comes from the name of an English prerogative writ, issued by a superior court to direct that the record of the lower court be sent to the superior court for review. The term is Latin for "to be made certain", and comes from the opening line of such writs, which traditionally began with the Latin words "''Certiorari volumus''..." ("We wish to be made certain..."). Derived from the English common law, ''certiorari'' is prevalent in countries utilising, or influenced by, the common law''.'' It has evolved in the legal system of each nation, as court decisions and statutory amendments are made. In modern law, ''certiorari'' is recognized in many jurisdictions, including England and Wales (now called a "quashing order"), Canada, India, Ireland, the Philippines and the United States. With the expansion of administrative law in the 19th and 20th cen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solicitor General Of The United States
The solicitor general of the United States is the fourth-highest-ranking official in the United States Department of Justice. Elizabeth Prelogar has been serving in the role since October 28, 2021. The United States solicitor general represents the federal government of the United States before the Supreme Court of the United States. The solicitor general determines the legal position that the United States will take in the Supreme Court. In addition to supervising and conducting cases in which the government is a party, the Office of the Solicitor General also files '' amicus curiae'' briefs in cases in which the federal government has a significant interest. The Office of the Solicitor General argues on behalf of the government in virtually every case in which the United States is a party, and also argues in most of the cases in which the government has filed an ''amicus'' brief. In the federal courts of appeal, the Office of the Solicitor General reviews cases decided aga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Midland Credit Management, Inc
Midland may refer to: Places Australia * Midland, Western Australia Canada * Midland, Albert County, New Brunswick * Midland, Kings County, New Brunswick * Midland, Newfoundland and Labrador * Midland, Ontario India * Midland Ward, Kohima, Nagaland Ireland * Midland Region, Ireland United States * Midland, Arkansas * Midland, California * Midoil, California, formerly Midland * Midland, Georgia * Midland, Indiana * Midland, Kentucky * Midland, Louisiana * Midland, Maryland * Midland, Michigan * Midland, Missouri * Midland, North Carolina * Midlands of South Carolina * Midland, Ohio * Midland, Oregon * Midland, Pennsylvania * Midland, South Dakota * Midland, Tennessee * Midland, Texas * Midland, Virginia * Midland, Washington * Midland City, Alabama Railways * Buenos Aires Midland Railway, a former British-owned railway company in Argentina * Colorado Midland Railway, US * Florida Midland Railroad (other), US * Midland Railroad (Massachusetts), US ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
