Tooltip Categories: Economics & Finance

negotiable instrument

A transferable, signed document that promises to pay the bearer a sum of money at a future date or on demand. Examples include checks, bills

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municipal tax

A tax assessed and levied by a local authority such as a county or municipality. A local tax is usually collected in the form of

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mutual benefit society

The term that applies to a non-profit organisation that is set up to benefit its members such as in times of sickness, life insurance benefits

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mutual fund [FIM]

Portfolio of securities professionally managed by the sponsoring management company or investment company that issues shares to investors. A no-load fund does not charge a

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mutualist

Member or associate of a friendly society or benefit society. (source: http://www.wordreference.com/es/en/translation.asp?spen=mutualista)

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nationalization

A process in which a government takes control of an industry or company and becomes its owner. (source: http://dictionary.cambridge.org/dictionary/business-english/nationalization)

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mortgaged property

A real property that has been used as collateral for a debt. The mortgage lien remains on the property until the debt is paid. Generally

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mortgagee

The creditor or lender in a mortgage agreement. (source: http://www.investorwords.com/3132/mortgagee.html#ixzz2M8h7CiFu)

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mortgagor

The borrower in a mortgage agreement. (source: http://www.investorwords.com/3146/mortgagor.html#ixzz2M8hapZbk)

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