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A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee ), either at a fixed or determinable future time or on demand of the payee ...
A collateral contract is usually a single term contract, made in consideration of the party for whose benefit the contract operates agreeing to enter into the principal or main contract, which sets out additional terms relating to the same subject matter as the main contract. [1] For example, a collateral contract is formed when one party pays ...
Balfour Declaration at Wikisource. The Balfour Declaration was a public statement issued by the British Government in 1917 during the First World War announcing its support for the establishment of a "national home for the Jewish people" in Palestine, then an Ottoman region with a small minority Jewish population.
KYC – "Know Your Customer" refers to due diligence activities that financial institutions and other regulated companies must perform to ascertain relevant information. L. LBO – Leveraged Buyout; LC – Letter of credit; LIBOR – London Interbank Offered Rate; LE – Latest Estimate; LIFFE – London International Financial Futures and ...
The debt buyer purchases accounts and debts from creditors for a percentage of the value of the debt and may subsequently pursue the debtor for the full balance due, including any interest that accrues under the terms of the original loan or credit agreement.
A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note.
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