HARD ASSETS Definition

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HARD ASSETS are physical assets (land, buildings, equipment) and financial assets (cash, credit, financial instruments). Hard assets are usually on the records of account in an organization and subjected to inventory and/or custodial safeguards. See also SOFT ASSETS.

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COMMON LAW is an unwritten body of law based on general custom in England; it is used to some extent in the United States.

PURCHASE AND INSTALLMENT SALEBACK, in real estate, is a contract purchase of real property upon the completion of construction. The subject property is then immediately sold back on a long-term installment contract.

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