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A stop payment is an order by a customer of a financial institution (bank, savings bank, or credit union) or to a money order issuer to refuse to pay a check or draft drawn on the customer's account, and to return the draft to the depositor unpaid. [1] Stop payments are used in cases where the depositor does not want the check to be paid.
When a bad cheque is negotiated, the recipient of the cheque may choose to take action against the drawer. The action that is taken may be a civil collection action or lawsuit, or seeking criminal charges, depending on the amount of the cheque and the laws in the jurisdiction where the cheque is drawn.
How a returned payment can impact your credit . Your payment history is a big part of your credit score (accounting for 35 percent of the score), and making payments on time helps build up your score.
Delay in payment or performance on the part of the creditor or obligor. Also known as mora creditoris. mora solvendi: delay of the one paying Delay in payment or performance on the part of the debtor or the obligee. Also known as mora debitoris. 2 forms: mora solvendi ex re - delay in giving or delivering a thing;
Aug. 31—The owner of a five-bedroom home in Murrysville is accused of giving Westmoreland County authorities a bad $25,000 check in an effort to halt a tax sale of the property, according to ...
For example, in response to a request for police reports relating to a certain person, the police agency may respond: "We can neither confirm nor deny that our agency has any records matching your request." The phrase was notably used to respond to requests for information about the Glomar Explorer.
In a credit card or debit card account, a dispute is a situation in which a customer questions the validity of a transaction that was registered to the account.. Customers dispute charges for a variety of reasons, including unauthorized charges, excessive charges, failure by the merchant to deliver merchandise, defective merchandise, dissatisfaction with the product(s) or service(s) received ...
A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong.