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In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights.
Church of the Lukumi Babalu Aye, Inc. v. Hialeah, 508 U.S. 520 (1993), was a case in which the Supreme Court of the United States held that an ordinance passed in Hialeah, Florida, forbidding the "unnecessar[y]" killing of "an animal in a public or private ritual or ceremony not for the primary purpose of food consumption", was unconstitutional.
In the United States, bankruptcy is governed by federal law, commonly referred to as the "Bankruptcy Code" ("Code"). The United States Constitution authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States." Congress has exercised this authority several times since 1801, including through adoption of the Bankruptcy Reform Act of 1978, as amended, codified in Title 11 of the United States Code and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
A spendthrift is someone who spends money prodigiously and who is extravagant and recklessly wasteful, often to a point where the spending climbs well beyond his or her means. "Spendthrift" derives from an obsolete sense of the word "thrift" to mean prosperity rather than frugality, so a "spendthrift" is one who has spent their prosperity.
A security interest is a legal right granted by a debtor to a creditor over the debtor's property which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. One of the most common examples of a security interest is a mortgage: When person, by the action of an expressed conveyance, pledges by a promise to pay a certain sum of money, with certain conditions, on a said date or dates for a said period, that action on the page with wet ink applied on the part of the one wishing the exchange creates the original funds and negotiable Instrument. That action of pledging conveys a promise binding upon the mortgagee which creates a face value upon the Instrument of the amount of currency being asked for in exchange. It is therein in good faith offered to the Bank in exchange for local currency from the Bank to buy a house. The particular country's Bank Acts usually requires the Banks to deliver such fund bearing negotiable instruments to the Countries Main Bank such as is the case in Canada. This creates a security interest in the land the house sits on for the Bank and they file a caveat at land titles on the house as evidence of that security interest. If the mortgagee fails to pay defaulting in his promise to repay the exchange, the bank then applies to the court to for-close on your property to eventually sell the house and apply the proceeds to the outstanding exchange.
Subordination in banking and finance refers to the order of priorities in claims for ownership or interest in various assets.
Bank of America National Trust and Savings Association v. 203 North LaSalle Street Partnership, 526 U.S. 434 (1999), was a decision by the United States Supreme Court.
Minnesota v. Dickerson, 508 U.S. 366 (1993), was a decision by the Supreme Court of the United States. The Court unanimously held that, when a police officer who is conducting a lawful patdown search for weapons feels something that plainly is contraband, the object may be seized even though it is not a weapon. By a 6-to-3 vote, however, the court held that the officer in this case had gone beyond the limits of a lawful patdown search before he could determine that the object was contraband, making the search and the subsequent seizure unlawful under the Fourth Amendment.
The Provident Institution for Savings (est.1816) in Boston, Massachusetts, was the first chartered savings bank in the United States. James Savage and others founded the bank on the belief that "savings banks would enable the less fortunate classes of society to better themselves in a manner which would avoid the dangers of moral corruption traditionally associated with outright charitable institutions."
The following outline is provided as an overview of and topical guide to United States federal Indian law and policy:
Bank of America, N. A. v. Caulkett, 575 U.S. ___, 135 S. Ct. 1995 (2015), is a bankruptcy law case decided by the Supreme Court of the United States on June 1, 2015. In Caulkett, the Court held that 11 U.S.C. § 506(d) does not permit a Chapter 7 debtor to void a junior mortgage on the debtor's property when the amount of the debt secured by the senior mortgage on that property exceeds the property's current market value.
