Donee Beneficiary Definition.

A donee beneficiary is a person who is named in a trust or will to receive a gift of property from the settlor or testator. The donee beneficiary has no obligation to the settlor or testator and may freely dispose of the property as they wish. Why type of third-party beneficiary is a creditor beneficiary? … Read more

Defunct Definition.

A defunct definition is a term used to describe a company or organization that is no longer in operation. This can happen for a variety of reasons, such as bankruptcy, liquidation, or simply ceasing to exist. When a company is defunct, its assets are typically sold off in order to pay off creditors. Any remaining … Read more

How Safe Harbors Work.

The safe harbor provisions of the merger statutes are designed to encourage voluntary compliance with the statutes by providing a “safe harbor” from liability for certain types of conduct. The safe harbor provisions do not preempt the application of the antitrust laws to conduct that falls outside the safe harbor. The safe harbor for merger … Read more

What is the electronic signature?

In legal and accounting, the electronic signature is the electronic equivalent of the handwritten signature through which a person accepts the content of an electronic message, either by checking a box on a computer, using a username and password, a digital signature or signing with an electronic pen. Electronic signatures are formed with a complex … Read more