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Goodwill letters are most effective when the late payment was an isolated incident caused by unforeseen circumstances, such as a financial hardship or medical emergency.
Business letters can have many types of content, for example to request direct information or action from another party, to order supplies from a supplier, to point out a mistake by the letter's recipient, to reply directly to a request, to apologize for a wrong, or to convey goodwill. A business letter is sometimes useful because it produces a ...
Many a homeowner has been "inspired" to do-it-yourself-dom by a traumatic encounter with a bad contractor (traumatic to the psyche -- or the pocketbook). In the same vein, the spate of loan ...
The opinion clarified Title VII's standard of "undue hardship" does not mean de minimis. The ruling states that "undue hardship is very different from de minimis" and that an employer even "showing more than de minimis cost" in providing religious accommodation "does not suffice to establish undue hardship." This ruling places additional onus ...
For example, employers are required to provide a reasonable accommodation to qualified individuals with disabilities, but when an accommodation becomes too taxing on the organization it is classified as an undue hardship and is no longer required. These hardships include the nature and cost of the accommodation in relation to the size ...
For example, if your monthly mortgage payment is $1,400, a 5 percent late fee amounts to $70. If you believe you’ll miss a mortgage payment or already have, contact your lender or servicer as ...
The hardship clause is sometimes used in relation to force majeure, particularly because they share similar features and they both cater to situations of changed circumstances. The difference between the two concepts is that hardship is the performance of the disadvantaged party becoming much more burdensome but still possible.
Financial distress is a term in corporate finance used to indicate a condition when promises to creditors of a company are broken or honored with difficulty.If financial distress cannot be relieved, it can lead to bankruptcy.