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A damage deposit or deposit is a sum of money paid in relation to a rented item to ensure it is returned in good condition. They are particularly common in relation to rented accommodation , where they may also be referred to as a tenancy deposit , bond deposit , [ 1 ] or bond .
Reliance interest is one of the three prongs of interest discussed by legal experts Lou Fuller and William Perdue in their 1936 article, "The Reliance Interest in Contract Damages." [ 4 ] The other two interests are expectation interest and restitution interest .
ShutterstockThe damage to a rental that could threaten you security deposit -- or worse -- doesn't have to be intentional. By Christine DiGangi Moving to a new place comes with a lot of costs, not ...
In the United States, it is common to require key money in the form of a security deposit. The tenant pays one or two months' rent up-front. These funds are then held in escrow and are used to offset delinquent payments or damage to the property. If neither happens, the money is refunded (typically with statutory interest) when the tenant vacates.
Given a principal deposit and a recurring deposit, the total return of an investment can be calculated via the compound interest gained per unit of time. If required, the interest on additional non-recurring and recurring deposits can also be defined within the same formula (see below). [12] = principal deposit
The need for day count conventions is a direct consequence of interest-earning investments. Different conventions were developed to address often conflicting requirements, including ease of calculation, constancy of time period (day, month, or year) and the needs of the accounting department.
As you can see, with the Rule of 78, early payments are more interest-heavy. Rule of 78 vs. simple interest. While the Rule of 78 can be used for some types of loans (usually for subprime auto ...
Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3]