What Is a Troy Ounce? A Troy ounce is a unit of weight based on the troy system of weights and measures. It is most commonly used for weighing precious metals. It is different from metric or Imperial weights and dates back to the middle ages. According to the Royal […]
Legal Terms
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What Is Delivered-at-Place (DAP)? DAP is an international trade term where the seller is responsible for all costs of shipment from the origin to a specified destination. Delivered-at-place is an international logistics term. It describes a deal where a seller agrees to bear all shipping costs and potential losses when […]
What Is a Holographic Will? A holographic will is a document that is handwritten and signed by the person who is writing the will and giving the legacy. Unwitnessed, a holographic will is valid in about half the U.S. states. However, if properly witnessed, it can be valid in all […]
What Does Baptism by Fire Mean? Baptism by Fire refers to being thrown into a difficult situation with little or no preparation and surviving through wits and determination. In business, the phrase is commonly used to describe a person or employee who is learning something the hard way through great […]
Sheriff Sale Auction – What Is a Sheriff’s Sale? A sheriff sale auction or sheriff’s sale is a public auction where foreclosed or repossessed property is sold by local law enforcement. The proceeds from the sale are used to pay mortgage lenders, banks, tax collectors, and other lienholders who have financial […]
Per Stirpes – What Does it Mean? Per Stirpes, used in a will stipulates how assets are to transfer if beneficiaries pass away before you do. It passes their share to their heirs. Per stirpes is a designation that instructs where and how your assets should be passed down in […]