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A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest. 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 ...
The creditor's rights against the debtor and the lessor's rights against the lessee are based on the credit documents and the lease, respectively, and not the financing statement. Pursuant to the standards set forth in the UCC, at 9-503 and 9–504, the financing statement need only contain three pieces of information: the debtor's name and address
No Objection Certificate, popularly abbreviated as NOC, is a type of legal certificate issued by any agency, organisation, institute or, in certain cases, an individual.. It does not object to the covenants of the certifica
Debt relief scams: Some criminals target those seeking help with credit card debt. Make sure that you know how to identify a debt relief scam, such as guarantees that you will qualify for debt ...
An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and residential transactions.
In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and all previous holders ...
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For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation . For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty.