Examlex
The subdivision of real property into lots for resale when no substantial physical improvements have been made to the property never causes the gain from sale of the lots to be treated as ordinary income.
General Partner
An owner of a partnership who has unlimited liability and is active in managing the firm, as opposed to a limited partner with limited liability.
Secondary Market
The market where investors buy and sell securities they already own, as opposed to the primary market where securities are first issued.
Foreign Exchange Market
A global marketplace for trading national currencies against one another.
Debt Market
A financial market where participants can issue and trade debt securities, often used by corporations and governments to finance their operations.
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