The legal payment due date is the date specified in the contract. The actual payment date is the date the payment is initiated by the payor unless specified otherwise in the contract.
The legal requirement for businesses to accept payment with pennies is that they must accept up to 100 pennies for any transaction. This is in accordance with the "Legal Tender for Payment of Debt Act" which states that all U.S. coins and currency are legal tender for payment of debts.
A kickback is a form of bribery where a person receives a payment or benefit as a reward for facilitating a transaction or decision, often in a business or governmental context. It typically involves unethical or illegal practices, such as influencing contracts or procurement processes. Kickbacks undermine fair competition and can lead to significant legal consequences for those involved.
There is no legal limit; however, some companies may have a policy limiting the forms of payment, or the amount of change, that they will accept.
yes it is legal for daily transaction
YES
a legal medium of payment
Watergate
A SWIFT MT103 is a standardized message used for international wire transfers between banks, detailing a payment's instructions. "Blocked funds" refers to money that cannot be accessed or transferred due to regulatory reasons, such as compliance with sanctions or legal disputes. When funds are blocked in an MT103 transaction, it means that although the transaction has been initiated, the funds are held and cannot be released until certain conditions are met or issues resolved. This situation can arise in various scenarios, including anti-money laundering (AML) checks or pending investigations.
The coins are legal tender for debts public and private. It is not legal to refuse coins for payment for goods and services.
Inter company transaction is between two or more related legal entities while intra company transaction is within the same legal entity.
Yes, proof of payment is crucial in a court of law to establish that a payment was made. It helps to demonstrate that there was a transaction between the parties involved and strengthens the claim of seeking money back. Without it, it may be challenging to substantiate the case and demonstrate that a payment was indeed made.
Ex Gratia means "by favor". In legal terms, this is a payment made by a company or employer when no payment is obligated. The payment is not made because a person is employed by the company and is unconnected to the services the company provides.