BROKER-DEALER Definition

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BROKER-DEALER is any person or institution, other than a bank, engaged in the business of buying or selling securi­ties on its own behalf or for others.

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PURCHASE AND LEASEBACK see SALE AND LEASEBACK.

TIME VALUE OF MONEY is the idea that a dollar today is worth more than a dollar in the future, because the dollar received today can earn interest up until the time the future dollar is received.

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