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Is there any type of promissory notes that are amortized over 120 months?
Evniza
All types of promissory notes can be amortized over 120 months.
We can write secured and non secured notes, 1st and 2nd mortgages.
car loan etc.
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∙ 16y ago
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Intangible assets are capitalized and amortized over periods benefited?
Matching principle
When repaying an amortized loan the interest payments increase over time?
true
Which intangible assets amortized over their useful life?
Following are the intangible assets amortized: 1 - Patents 2 - Goodwill 3 - Preliminary Expenses etc.
What is an amortized account?
Amortized account is same like depreciation account which is used to reduce the value of intangible asset over it's useful life span through income statement.
Is goodwill ammortised?
Purchased goodwill should be amortized over its useful economic life.
How you can deal with organization costs in the financial statements?
Organization costs are capitalized under Other Assets (non-current) and amortized (written off to an expense account) over a period of time, usually 60 months.
What do you do if you sold a vehicle to someone with a promissory note stating they will make payments and signed the title over if they do pay?
If they signed the promissory note, then it is legal, and binding.
Over what period of time should the cost of a patent acquired by purchase be amortized?
at the end of every business year.
Would a promissory note be null and void if nothing was ever lent or borrowed?
A promissory note is an unconditional promise to pay a fixed amount at a fixed time accruing a fixed interest thereafter.Promissory notes differ from IOUs in that they contain a specific promise to pay, rather than simply acknowledging that a debt exists. In common speech, other terms, such as "loan," "loan agreement," and "loan contract" may be used interchangeably with "promissory note" but these terms do not have the same legal meaning.So the answer depends on whther this is a true promissory note or an instrument that was created to memorialize a transaction that wasn't completed.ClarificationThe answer is that if there is a fully executed promissory note then it can be enforced in court. A fully executed promissory note is absolute evidence that the borrower owes the lender. A defense that the borrower never received the money would be difficult to prove. If the funds were not transferred to the borrower there should not be a fully executed promissory note.First, the promissory note should only be signed by the borrower at the same time the funds are handed over. Second, if one was executed and the funds were not paid over to the borrower then the promissory note should not be signed by the borrower and if signed, it should be destroyed since the loan was not completed.
How are intangibles such as goodwill treated for income tax purposes?
In the United States, general intangibles are amortized over 15 years.
What is a loan that is amortized over 20 years but the balance of the loan is due and payable in 5 years?
Balloon Payment Loan
What kind of lawyer do you use for a suit over a promissory note?
You would typically hire a commercial litigation lawyer or a contract lawyer to handle a suit over a promissory note. These types of lawyers specialize in resolving disputes related to contracts and financial agreements. It's important to find a lawyer who has experience in handling similar cases to ensure the best representation for your specific situation.
