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  2. Acceleration (law) - Wikipedia

    en.wikipedia.org/wiki/Acceleration_(law)

    The concept of acceleration most often arises within the context of contract law. An acceleration clause , also known as an acceleration covenant , may be included within a contract, so as to fully mature the performance due from a party upon a breach of the contract, such as by requiring payment in full upon the contract if a borrower ...

  3. Mortgage acceleration - Wikipedia

    en.wikipedia.org/wiki/Mortgage_acceleration

    A commonplace method of mortgage acceleration is a so-called bi-weekly payment plan, in which half of the normal calendar monthly payment is made every two weeks, so that 13/12 of the yearly amount due is paid per annum. [2] Commonplace too, is the practice of making ad hoc additional payments. The agreements associated with certain mortgages ...

  4. Lockstep compensation - Wikipedia

    en.wikipedia.org/wiki/Lockstep_compensation

    Lockstep compensation or seniority-based compensation is a system of remuneration in which employees' salaries are based purely on their seniority within the organization. For example, in the legal profession, where this system is most commonly found, all law school graduates hired by a law firm who graduated in the same year receive the same base pay regardless of background, experience, or ...

  5. What is a prepayment penalty? - AOL

    www.aol.com/finance/prepayment-penalty-165152113...

    Key takeaways. A prepayment penalty is a fee designed to discourage borrowers from paying off a loan ahead of time. Refinancing your mortgage or selling your home could trigger this penalty.

  6. English rule (attorney's fees) - Wikipedia

    en.wikipedia.org/wiki/English_rule_(attorney's_fees)

    By the same token, wealthy defendants have a strong incentive to pay the plaintiff to get a settlement, if they face a small chance of having to pay a huge amount. The rationale for the English rule is that a litigant (whether bringing a claim or defending a claim) is entitled to legal representation and, if successful, should not be left out ...

  7. Escrow - Wikipedia

    en.wikipedia.org/wiki/Escrow

    In the US, escrow payment is a common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and interest portion of a mortgage payment. Since the escrow payment is used to pay taxes and insurance, it is referred to as "T&I ...

  8. Buy now, pay later company Affirm strikes $4B loan deal with ...

    www.aol.com/buy-now-pay-later-company-143852613.html

    Affirm Holdings is getting its largest-ever capital commitment with a new partnership from private credit firm Sixth Street, which is investing in $4 billion worth of loans over the course of ...

  9. Settlement (litigation) - Wikipedia

    en.wikipedia.org/wiki/Settlement_(litigation)

    In law, a settlement is a resolution between disputing parties about a legal case, reached either before or after court action begins. A collective settlement is a settlement of multiple similar legal cases. [1] The term also has other meanings in the context of law.