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An earnest payment or earnest money is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. [1]
Although money is the most common consideration, it is not a required element to have a valid real estate contract. An earnest money deposit from the buyer(s) customarily accompanies an offer to buy real estate and the deposit is held by a third party, like a title company, attorney or sometimes the seller. The amount, a small fraction of the ...
The Utah Legal Tender Act, passed March 10, 2011, recognizes gold and silver coins issued by the United States [1] as legal tender in the state of Utah. [2] This includes allowing the state of Utah to pay off debts in gold and silver and allowing individuals to transact in gold and silver coins without paying state capital gains tax, [3] among other provisions. [4]
With regard to invitations to tender, this duty is applied in the form of the Contract A doctrine. A "process contract", referred to as "Contract A", [ 9 ] is formed between the owner (person, company or organisation tendering the project) and each bidder when a "request for proposal" is responded to in the form of a compliant bid, sometimes ...
The position was created in 1896 when Utah became a state. The Constitution of Utah established the Office of the State Treasurer to be elected by popular vote. [2] The current state treasurer is Marlo Oaks who was appointed by Governor Spencer Cox after Treasurer David Damschen resigned on April 30, 2021 to lead the Utah Housing Corporation.
Interpleader is a civil procedure device that allows a plaintiff or a defendant to initiate a lawsuit in order to compel two or more other parties to litigate a dispute. An interpleader action originates when the plaintiff holds property on behalf of another, but does not know to whom the property should be transferred.