The Law Dictionary

OPERATING AGREEMENT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

The agreement signed by the members of an LLC which sets forth the basic terms of operations of the LLC such as the identity of the members, their rights and responsibilities, share of profits and losses, etc. … [Read more...]

OPPOSITION

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

In bankruptcy practice. Opposition is the refusal of a creditor to assent to the debtor's discharge under the bankrupt law. In French law. A motion to open a judgment by default and let the defendant in to a defense. … [Read more...]

OPEN A CREDIT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

When a banker accepts or pays a bill of exchange drawn on him by a correspondent, who has not furnished him with funds, he is said to open a credit with the drawer. Pardess. n. 29. … [Read more...]

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