You can understand the importance of a bill of sale form by supposing that you have sold a car to a new buyer and now he is using it. If he uses the vehicle for […]
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When a buyer receives an order that he placed with a supplier or vendor and finds out that there is a mistake in the order i.e. defective goods, damaged items, shortage, incomplete delivery or wrong […]
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We can describe money due as some payment that a person owes to another person. In simple words, money due is actually a loan that is borrowed by a person from another person either on […]
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Mortgage is type of loan that individuals and companies take from banks and loan firms. In this process, some kind of real estate property is pledged or given to the creditor by the borrower or […]
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When a bank or creditor wants to get money by selling the security interest to potential buyers, the creditor is obligated to inform the debtor with a formal notice in order to ask him if […]
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When a debtor or creditor assigns his debt or credit to a third party, by the law and government regulations, he is required to send a formal notification to his obligors in order to inform […]
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We can describe the modified terms as the new clauses, terms and conditions that both parties want to include in the actual written contract or agreement. It is important to modify the actual written and […]
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When a person creates or invents something, he is the actual owner but the process of keeping the invention with him can get more difficult if it’s an intellectual property i.e. music, video or book […]
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An asset can be described as anything that is owned by a company, an organization or an individual person. Asset can be anything that has legal value in the market from office equipment to industrial […]
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Accounts receivable are the payments and amounts that a company will get from its clients and customers. For example, a company supplies orders to its customers on credit and as they agree to pay for […]
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In the financial terms, a bad debt or non-collectible funds are the loans and debts that are not recoverable from the debtors and loaners. In simple words, when you give loan or credit to someone […]
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When a client or customer owes money to a company i.e. supplier, the creditor or the person who wants the money or payment has the legal responsibility of informing the client about his late or […]
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When a creditor wants to inform the debtor or the person who borrowed money from him about the collection of the debt, a formal claim letter is sent to the debtor. This letter is known […]
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When a debtor or borrower can’t or doesn’t pay the debt on time to the creditor, the creditor has the right to declare the debtor as defaulter. This mostly happens in mortgage loan processes when […]
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There are many situations in which you give a check to another party assuming that you have enough funds in your account for the check to be cashed but somehow the bank statement shows insufficient […]
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