Boilerplate
slang for provision in a contract, form or legal
pleading which are apparently routine; the term comes from an old method of
printing.
Bona Fide
Latin for "good faith," it signifies honesty, for example, "The defendant made
a bona fide attempt to arrive in court on time"
Bona Fide Purchaser
commonly called BFP in legal and banking circles; a person who has purchased an
asset for stated value, innocent of any fact which would cast doubt on the right
of the seller to have sold it in good faith. This is vital if the true owner
shows up to claim title, since the BFP will be able to keep the asset, and the
real owner will have to look to the fraudulent seller for
recompense.Bond
1) Written evidence of debt issued by a company with the terms of payment
spelled out. A bond differs from corporate shares of stock since bond payments
are pre-determined and provide a final pay off date, while stock dividends vary
depending on profitability and corporate decisions to distribute. 2) Written
guarantee or pledge which is purchased from a bonding company, or by an
individual as security to guarantee some form of performance, including showing
up in court .
Bondsman
1) someone who sells bail bonds 2) a surety
(guarantor or insurance company, who/which provides bonds for performance
Booby Trap
A device set up to be triggered to harm or kill anyone entering the trap, such
as a shotgun which will go off if a room is entered, or dynamite which will
explode if the ignition key on an auto is turned. If a person sets up such a
trap to protect his/her property, he/she will be liable for any injury or death
even to an unwanted intruder such as a burglar. Setting a booby trap to even
protect one's property is a crime.
Book Account
An account of a customer kept in a business ledger of debits and credits which
shows the amount due at any given time. This can provide a clear basis for suing
for a debt.
Book Value
A determination of the value of a corporation's stock by adding up the stated
value of corporate assets as shown on the books (records) of a corporation and
deducting all the liabilities (debts) of the corporation. This may not be the
true value of the corporation or its shares since the assets may be under- or
over-valued.
Bottomry
1) The criminal act of entering a residence or other enclosed property through
the slightest amount of force without authorization. If there is intent to
commit a crime, this is burglary.
Bribery
the crime of giving or taking money or some other valuable item in order to
influence a person, usually a public official, in the performance of their
duties