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Receiver (legal)
In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvency, insolvent. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights. Types of receivership Receiverships can be broadly divided into two types: *those related to insolvency or enforcement of a security interest *those where either: **a person is incapable of managing their affairs and a court has appointed a receiver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, rent, sell, exchange, transfer, give away, or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted Property rights (economics), property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (or ''cooperative propert''y). Property may be jointly owned by more than one party equally or unequally, or according to simple or complex agreements; to distinguish ownership and easement from rent, there is an expectation that each party's will with regard to the property be clearly defined and unconditional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings And Loan Association
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. While the terms "S&L" and "thrift" are mainly used in the United States, similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held (often called mutual savings banks), meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20percent of their lend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of California State Prisons
This is a list of state prisons in California operated by the California Department of Corrections and Rehabilitation (CDCR). CDCR operates 34 adult prisons in California, with a design capacity of 85,083 incarcerated people. CDCR both owns and operates 34 of the state prisons; it additionally operates California City Correctional Facility, a prison leased from CoreCivic. CDCR operates a variety of other incarceration facilities, including fire camps and California Division of Juvenile Justice facilities. For more information on the totality of jurisdictions and facilities involved in incarceration in California, see Incarceration in California. For more information on the history, conditions, and demographics of California's prison system specifically, see Prisons in California. Facilities Reception centers house incarcerate people incoming to the state prison system while they complete an evaluation and receive a custody score. After that, they may be transferred to an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlement (litigation)
In law, a settlement is a resolution between disputing parties about a legal case, reached either before or after court action begins. A collective settlement is a settlement of multiple similar legal cases. The term also has other meanings in the context of law. Structured settlements provide for future periodic payments, instead of a one time cash payment. Basis A settlement, as well as dealing with the dispute between the parties is a contract between those parties, and is one possible (and common) result when parties sue (or contemplate so doing) each other in civil proceedings. The plaintiffs and defendants identified in the lawsuit can end the dispute between themselves without a trial. The contract is based upon the bargain that a party forgoes its ability to sue (if it has not sued already), or to continue with the claim (if the plaintiff has sued), in return for the certainty written into the settlement. The courts will enforce the settlement. If it is breached, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equinox (MLM)
Equinox International was a multi-level marketing company founded in 1991 and headed by Bill Gouldd. In 1996, Equinox was listed #1 on Inc Magazine's list of the 500 fastest-growing private companies in the United States. The company and its founder came under scrutiny for its business practices; starting in 1997, investors, the FTC, and several states brought suit charging Equinox was an illegal pyramid scheme rather than a legitimate business. On 25 April 2000, the Federal Trade Commission The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) United States antitrust law, antitrust law and the promotion of consumer protection. It ... issued a notice that Equinox International settled a court case with a penalty of $40 million in restitution. Gouldd was required to surrender substantial holdings, but retained (among other things) over a million dollars worth of real esta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-level Marketing
Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial and sometimes illegal marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system. In multi-level marketing, the compensation plan usually pays out to participants from two potential revenue streams. The first is based on a sales commission from directly selling the product or service; the second is paid out from commissions based upon the wholesale purchases made by other sellers whom the participant has recruited to also sell product. In the organizational hierarchy of MLM companies, recruited participants (as well as those whom the recruit recruits) are referred to as one's ''downline'' distributors. MLM salespeople are, therefore, expected to sel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court
The United States district courts are the trial courts of the United States federal judiciary, U.S. federal judiciary. There is one district court for each United States federal judicial district, federal judicial district. Each district covers one U.S. state or a portion of a state. There is at least one List of United States federal courthouses, federal courthouse in each district, and many districts have more than one. District court decisions are appealed to the United States courts of appeals, U.S. court of appeals for the circuit in which they reside, except for certain specialized cases that are appealed to the United States Court of Appeals for the Federal Circuit, U.S. Court of Appeals for the Federal Circuit or directly to the Supreme Court of the United States, U.S. Supreme Court. District courts are courts of common law, law, Court of equity, equity, and Admiralty court, admiralty, and can hear both Civil law (common law), civil and Criminal law, criminal cases. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
District Of Columbia
Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and Federal district of the United States, federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with Maryland to its north and east. It was named after George Washington, the first president of the United States. The district is named for Columbia (personification), Columbia, the female National personification, personification of the nation. The Constitution of the United States, U.S. Constitution in 1789 called for the creation of a federal district under District of Columbia home rule, exclusive jurisdiction of the United States Congress, U.S. Congress. As such, Washington, D.C., is not part of any U.S. state, state, and is not one itself. The Residence Act, adopted on July 16, 1790, approved the creation of the Capital districts and territories, capital district along the Potomac River. The city ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Master
In the law of the United States, a special master is an official appointed by a judge to ensure judicial orders are followed, or in the alternative, to hear evidence on behalf of the judge and make recommendations to the judge as to the disposition of a matter. The special master should not be confused with the traditional common law concept of a master, a judge of the High Court entrusted to deal with summary and administrative matters falling short of a full trial. In the federal judiciary of the United States, a special master is an adjunct to a federal court. Rule 53 of the Federal Rules of Civil Procedure allows a federal court to appoint a special master, with the consent of the parties, to conduct proceedings and report to the Court. Role The role of the special master, who is frequently but not necessarily an attorney, is to supervise those falling under the order of the court to ensure that the court order is being followed and to report on the activities of the enti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Los Angeles County Superior Court
The Superior Court of Los Angeles County is the California Superior Courts of California, Superior Court located in Los Angeles County, California, Los Angeles County. It is the largest single unified trial court in the United States. The Superior Court operates 36 courthouses throughout the county. Currently, the Presiding Judge is Sergio C. Tapia II and David W. Slayton is the Executive Officer/Clerk of Court. They, together with 583 judicial officers and 4,800 employees, operate the nearly 600 courtrooms throughout the county, with an annual budget of over $1 billion. History When California declared its statehood in 1849 and became a part of the United States, the first California Constitution authorized the legislature to establish municipal and such other courts as it deemed necessary. The 1851 California Judiciary Act divided the state into districts, placing Los Angeles, San Bernardino, and San Diego counties into one district. Each district had its own court, below w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Home Loan Bank
The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 11 U.S. government-sponsored banks that provide liquidity to financial institutions to support housing finance and community investment. Overview The FHLBank System was chartered by Congress in 1932, during the Great Depression. It has a primary mission of providing member financial institutions with financial products/services which assist and enhance the financing of housing and community lending. FHLBanks operate exclusively in the secondary market providing loans (advances) to financial institutions, not individuals. The 11 FHLBanks are each structured as cooperatives owned and governed by their member financial institutions, which today include savings and loan associations (thrifts), commercial banks, credit unions, and insurance companies. While FHLBanks are private, the FHLBank System is directly regulated by the Federal Housing Finance Agency (FHFA) and FHLBanks enjoy certain benefits from their government sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freddie Mac
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia.Tysons Corner CDP, Virginia ". United States Census Bureau. Retrieved on May 7, 2009. The FHLMC was created in 1970 to expand the secondary market for Mortgage loan, mortgages in the US. Along with its sister organization, the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages, pools them, and sells them as a mortgage-backed security (MBS) to private investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purcha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
