In law, unjust enrichment is where one person is unjustly or by chance enriched at the expense of another, and an obligation to make restitution arises, regardless of liability for wrongdoing. A common example is when a party contracts to provide a service, but the contract is terminated prematurely due to a breach, and the contractor unjustly receives no compensation for partial services rendered.
The concept of unjust enrichment is based upon the Roman legal maxim "no one should be benefited at another's expense" (nemo locupletari potest aliena iactura or nemo locupletari debet cum alien iactura). (Wikipedia)
A Force Majeure clause (French for "superior force") is a contract provision that allows a party to suspend or terminate the performance of its obligations when certain circumstances beyond their control arise, making performance inadvisable, commercially impracticable, illegal, or impossible. (ContractStandards)
A legal mortgage arises when the assets are conveyed to the secured party as security for the obligations, but subject to a right to have the assets reconveyed when the obligations are performed. (Wikipedia)
line of credit. A credit arrangement in which a financial institution agrees to lend money to a customer up to a specified limit. A line of credit, generally arranged before the funds are actually required, provides flexibility for the customer in that it ensures the ability to meet short-term cash needs as they arise. Also called bank line, credit line, revolver, revolving credit agreement. (Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott)
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