Pyramid Scheme

A pyramid scheme is a fraudulent business model that uses new recruits, who are promised payment to enroll others. The illegal investment scam begins when an individual or company recruits investors by promising high returns. These recruits are led to believe that the more people brought into the business, the higher the profits will be. Pyramid schemes only benefit the […]

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Preamble

Preamble refers to an introductory statement, which in turn describes, or states the reason for, the remaining portion of the document or writing. In the United States, the term preamble is most commonly associated with the introductory section of the U.S. Constitution. Preambles are, however, used at the beginning of other documents, such as charters, constitutions, and legal documents. To […]

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Sole Proprietorship

The term sole proprietorship refers to a business owned and operated by one person, which is not registered as a corporation or a limited liability company. In a sole proprietorship, there is no legal distinction between the individual and the business owner. While the owner is entitled to all profits from the business, he is also responsible for the business’ […]

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Prior Restraint

The term prior restraint refers to a governmental restriction on speech or other expression before it can take place. This is seen by many as a blatant violation of the First Amendment rights enjoyed by all Americans, but is sometimes used by courts concerned about the effect publicity might have on a person’s right to a fair trial. Prior restraint […]

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Promissory Note

A promissory note is a financial tool used to put the terms of a loan in writing. The note spells out the amount borrowed by one party, as well as how and when the money will be paid back. A promissory note is a legal contract that binds the borrower by law. If the borrower fails to repay the money […]

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Property Management

Property Management Property management is the control and operation of real estate, personal property, equipment, or physical assets. It is most often referred to in relation to the lease or rental of the property, in which a property manager handles the maintenance and day-to-day activities surrounding the property. In rental houses and apartments, this would include seeking occupants, and collecting […]

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