Take

Take Profit Receipts Seizure Collateral Offer Price Securities Gambling
The term 'take' can have multiple interpretations depending on the context, ranging from profit realization to the act of seizing property, as well as particular connotations in the securities market.
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Definition

Take refers to different concepts based on the context in which it is used:

  1. General:

    • Profit Realization: The profit realized from a transaction.
    • Gross Receipts: The total gross receipts of a lottery or gambling enterprise.
    • Bribery: Being open to bribery, colloquially expressed as “being on the take.”

  2. Law:

    • Seizure of Property: The act of seizing possession of the property. For example, if a debtor defaults on a debt backed by collateral, the property secured by the collateral can be “taken” back by the creditor.

  3. Securities:

    • Acceptance of Offer: The act of accepting an offer price in a transaction between brokers or dealers.

Examples

  1. General:

    • A real estate agent closes a deal and takes home a significant profit.
    • A government agency investigates a lottery company to audit its gross receipts or “take” from ticket sales.

  2. Law:

    • A lender takes possession of a car when the borrower defaults on an auto loan.

  3. Securities:

    • A broker takes an offer from another dealer to buy or sell stocks at a specified price.

Frequently Asked Questions (FAQs)

  1. What does ‘on the take’ mean?

    • “On the take” refers to someone who is open to bribery or corrupt practices.

  2. What happens when a property is ’taken’ by the creditor in legal terms?

    • The creditor repossesses the property that was used as collateral once the debtor defaults on a debt.

  3. Can ’take’ refer to gambling profits?

    • Yes, in the context of gambling enterprises, “take” refers to the gross receipts.

  4. What does it mean to ’take’ an offer in securities?

    • It means to accept the offer price presented by another broker or dealer in financial markets.

  1. Collateral:

    • An asset that a borrower offers to a lender to secure a loan. If the borrower defaults on the loan, the lender has the right to seize the collateral.

  2. Offer Price:

    • The price at which a seller states they are willing to sell an asset, which buyers can accept or reject.

  3. Taking:

    • The act of seizing, capturing, or acquiring possession, often used interchangeably with “take” in legal contexts.

Online References

  1. Investopedia: How Collateral Works in Transactions
  2. Securities and Exchange Commission (SEC): Understanding Market Orders

Suggested Books for Further Studies

  1. “Business Law and the Regulation of Business” by Richard A. Mann and Barry S. Roberts
  2. “Fundamentals of Financial Management” by Eugene F. Brigham and Joel F. Houston
  3. “Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions” by Joshua Rosenbaum and Joshua Pearl

Fundamentals of Take: Business & Securities Basics Quiz

### What does 'on the take' commonly refer to? - [ ] Receiving profit from a real estate deal. - [x] Being open to bribery. - [ ] Accepting an offer price in securities. - [ ] Seizing possession of the property. > **Explanation:** "On the take" is a slang term for being open to bribery or corrupt practices. ### In the securities market, what does it mean to 'take' an offer? - [ ] Refuse a bid price. - [x] Accept an offer price. - [ ] Sell stocks compulsorily. - [ ] Announce initial public offering. > **Explanation:** In the securities market, 'taking' an offer means accepting an offer price proposed by another broker or dealer. ### When a creditor 'takes' collateral in a legal context, what action are they performing? - [ ] Selling the collateral in an open market. - [x] Repossessing the collateral due to a defaulted loan. - [ ] Trading the collateral for securities. - [ ] Donating the collateral to a charity. > **Explanation:** When a creditor "takes" collateral, they repossess the property used as collateral due to the borrower defaulting on the loan. ### How is 'take' used in the context of gambling enterprises? - [x] The gross receipts obtained from gambling activities. - [ ] The odds of winning a bet. - [ ] The minimum bet amount. - [ ] The number of players. > **Explanation:** In the context of gambling, "take" refers to the gross receipts or total funds collected by the gambling enterprise. ### What does 'take' refer to in a general business transaction? - [ ] Total expenditures of a company. - [x] Profit realized from the transaction. - [ ] The loss incurred during the transaction. - [ ] Company liabilities. > **Explanation:** In general business transactions, "take" usually refers to the profit that has been realized. ### Which term describes an asset offered by a borrower to secure a loan? - [x] Collateral - [ ] Equity - [ ] Bond - [ ] Dividend > **Explanation:** Collateral is an asset provided by a borrower to the lender as security for a loan in case of default. ### If a property is 'taken' back by a creditor, what could have caused this action? - [ ] A successful business venture. - [ ] Payment of loan in advance. - [x] Default on a loan backed by the property. - [ ] Increase in property value. > **Explanation:** The most common reason a creditor would 'take' back a property is a default on a loan backed by that property. ### What usually follows when a broker 'takes' an offer in the securities market? - [ ] Market closure. - [ ] Stock analysis. - [x] Completion of the transaction at the accepted offer price. - [ ] Resignation of the broker. > **Explanation:** When a broker 'takes' an offer, it leads to the completion of the transaction at the mutually agreed offer price. ### Can the term 'take' also mean the gross income from lottery sales? - [x] Yes - [ ] No > **Explanation:** Yes, in the context of gambling and lotteries, "take" means the gross receipts or income collected from sales. ### In legal terms, what type of property is often 'taken' when a loan is defaulted? - [x] Collateral property - [ ] Employee wages - [ ] Office supplies - [ ] Competitor assets > **Explanation:** The property 'taken' is typically the collateral provided for a loan when that loan is defaulted.

Thank you for reviewing our comprehensive article on “Take” and participating in the quiz. We hope this deep dive enhances your understanding of the term across different contexts.

Wednesday, August 7, 2024
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Offer Price January 1, 1
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