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What does the term asset acceptance mean?
Asset Acceptance is one of the main ways that companies make up for their loans. This means that a company will take a person's assets as collateral over money.
What does unauthorized use mean for a credit card?
It could mean that it is being used by a person who does not have permission to use it (it was stolen) or it could mean that it is being used to purchase goods or services that are prohibited by the contract. Say that my company card comes with the specific limitation that I cannot buy booze with it and I do. I would be in violation of the contract because that is unauthorized use.
What does AWC-1 mean?
If you're referring to a real estate listing it simply means that the seller has written instructions on the listing.
Is a decedent's estate responsible for paying the self-employment tax on non-employee compensation?
You mean on the decedents non-employee comp...Yes
Is the inheritance tax going to change in 2010?
I assume you mean the estate tax, not the inheritance tax. (There is a federal estate tax, but no federal inheritance tax.) The federal estate tax will be abolished in 2010. And (unless the law is changed) it will be reinstated in 2011 and the exclusion amount will drop from the $3.5 million in 2009 to $1 million in 2011. Note that this does not apply to state estate or inheritance taxes. Because of the craziness on the federal level, many states have been revising their estate taxes to decouple them from federal changes. ***Caution*** Before making any plans to die in 2010 in order to take advantage of the estate tax repeal, be aware that this situation is very fluid and the law could be changed.
Does not having a signed date notify a contract?
Did you mean "nullify" rather than "notify". Not having a date on the contract may not nullify the contract.
Is it a breach of contract if there is no specification of date to perform in the contract?
if there is no date specify this does not mean there is a breach. for a breach to occur one of the parties to a contract must not have fully performed their obligations. if there is no date specified in the contract the courts will apply a reasonable date
What does quasi mutual assent mean in relation to the contract?
"Meeting of the minds" (Parties involved in a contract must come to an agreement on the particulars of a transaction)
What does an active release clause mean when buying real estate?
An active release clause is a part of the contract between the Buyer and Seller allowing for the termination of the contract based on the specific terms detailed as part of the contract.
Must a parent with lifetime rights sign sale contract?
You mean a contract to sell a property in which the parent has a life estate? No. If the children want to sell their future interest in the property, it is separate from the rights of the parent with a life estate. Similarly, the children do not need to be asked if the the parent wants to sell (or mortgage) his or her life estate to someone else. On the other hand, if the buyers want clear title, with no life estate, then you have a different problem: terminating the life estate, by merging it with the future estate, and what's in it for you?
What is the difference between LC and DA?
DA mean documents against acceptance, where company give acceptance to pay their liabilities on due date, but he can pay remit the DA before its due date , but in case of Letter of Credit, UCP are not allowed to pay the LC liabilities before its due date. Thanks Anup Das
What does the real estate standard contract default rate mean?
The real estate default rate is the rate of borrowers that fail to remain current on their loans. When a homeowner is in default, their house may be in danger of being foreclosed on.
What does it mean to own an estate?
Owning an estate means you own the whole of all property, land, and financial aspects. In other words, words, it is all of your financial assets to date.
What does the term private water well mean in a real estate contract?
it means that somebody is having a little privacy next to a well filled water
I need to sign a contract with the term Executed at and then a blank. Does this mean I fill in my City name or the date?
the Name of the city in which you signed it.
What is a contractual relationship?
Legal relationship between contracting-parties evidenced by (1) an offer, (2) acceptance of the offer, and a (3) valid (legal and valuable) consideration. Existence of a contractual relationship, however, does not necessarily mean the contract is enforceable, that it is not void (see void contract), or not voidable (see voidable contract). Read more: http://www.businessdictionary.com/definition/contractual-relationship.html#ixzz166WySF1X
What does no escape mean in a real estate deal?
"No escape" is related to the contract. An escape clause is clause, condition or other provision in a contract that allows you to back out of the transaction if you find something about the property, the financing or some other factor that makes the deal undesirable. You may have to pay a fee or lose your deposit.No escape means that you cannot back out of the transaction once you have signed the contract. You need to be absolutely certain that you will go through with the real estate purchase no matter what if you enter into a contract with a no escape clause.
