ASSET SALE is the sale of certain named assets of a corporation, partnership or sole proprietorship. Usually the seller retains ownership of the cash and cash equivalents (such as Accounts Receivable) and the liabilities of the entity. The seller then will pay the liabilities with the cash, any down payment and the cash equivalents as they become cash. Assets named are typically trade name, trade fixtures, inventory, leasehold rights, telephone number rights and goodwill. Assets sold can be tangible or intangible.
COMPANY LIMITED BY SHARES is where the members' personal liabilities are limited to the par value of their shares. a company limited by guarantee.
FLOATING-RATE NOTE is an instrument with a fluctuating interest rate as prescribed at the time of issue.
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