Usually the loan is used to develop the property and build upon it, and then there is a division of profits upon sale-if there is a profit. nick-named REIT, a real estate investment organization which finds investors and buys real property and gives each investor either a percentage interest in the property itself or an interest in a loan secured by a mortgage or deed of trust on the property. See: corporation, shareholder, limited partnership, partnership, liquidated damages By using Black’s Law Dictionary, exclusively on Westlaw, you’ll know the meanings of key terms that will help you understand your cases faster, be prepared for cold-calls and beef up your class notes. Parties to a contract can limit the amount each might owe the other, but cannot contract away the rights of a third party to make a claim. Blacks Law Dictionary Dont guess the meaning of a legal term. A stockholder in a corporation can only lose his/her investment, and a limited partner can only lose his/her investment, but a general partner can be responsible for all the debts of the partnership. the maximum amount a person participating in a business can lose or be charged in case of claims against the company or its bankruptcy. The most popular legal definitions: limited liability
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