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FEDERAL TRADE COMMISSION (FTC) A federal agency created to investigate and eliminate unfair and deceptive trade practices in business. CONVEYANCE The document used to effect a transfer, such as a deed, or mortgage. PROCURING CAUSE That effort which brings about the desired result, as in producing the buyer for the listed property. NOMINAL CONSIDERATION A consideration bearing no relation to the real value of the contract. A deed often recites a nominal consideration, such as "ten dollars and other valuable consideration." ESTOPPEL A legal doctrine by which a person is prevented from asserting rights or facts which are inconsistent with a previous position or representation he had made by his act, conduct or silence. TAX IMPOUND Money paid to and held by a lender for annual tax payments. |
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