BUS 393 Chapter Notes - Chapter 5: Encumbrance, Rigging, Ponzi Scheme
16 Oct 2020
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Assignment in bankruptcy: a voluntary transfer of assets to a trustee in bankruptcy. Assignment of book accounts: merchant temporarily transfer to a creditor the right to collect money owed to the merchant by customers as security for a loan. Attachment: under the personal property security act where value has been given pursuant to contract and the creditor now has a claim against assets used as security. Bait and switch: where a product is advertised at a low price and the purchaser is persuaded to purchase a higher priced product when the lower priced one is not available. Bankruptcy: process by which an insolvent person voluntarily or involuntarily transfers assets to a trustee for distribution to creditors. Bankruptcy offence: punishable wrongdoing associated with bankruptcy such as withholding information or wrongfully transferring assets. Bid rigging: where competitors biding on a project coordinate to determine the winning bid. Bill of lading: a receipt for goods in the care of the shipper.
