Selected Entries

Cooperatives

Chattel Paper

A writing or writings that evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances chattel paper will consist of a negotiable instrument coupled with a security agreement. When a transaction is evidenced both by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together constitutes chattel paper.

Actionable

Giving sufficient legal grounds for a lawsuit; giving rise to a cause of action.

Service of Process

Delivery of a writ, summons, or other legal papers to the person required to respond to them.

Advise

To give an opinion or recommend a plan or course of action; to give notice; to encourage, inform, or acquaint.

Endowment

A transfer, generally as a gift, of money or property to an institution for a particular purpose. The bestowal of money as a permanent fund, the income of which is to be used for the benefit of a charity, college, or other institution.

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