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A late fee, also known as an overdue fine, late fine, or past due fee, is a charge fined against a client by a company or organization for not paying a bill or returning a rented or borrowed item by its due date.
Errors and omissions excepted" (E&OE [1]) is a phrase used in an attempt to reduce legal liability for potentially incorrect or incomplete information supplied in a contractually related document such as a quotation or specification.
QuickBooks is an accounting software package developed and marketed by Intuit.First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
A business record is a document (hard copy or digital) that records an "act, condition, or event" [1] related to business. Business records include meeting minutes, memoranda, employment contracts, and accounting source documents. It must be retrievable at a later date so that the business dealings can be accurately reviewed as required.
The English rule provides that the party that loses in court pays the other party's legal costs. The English rule contrasts with the American rule, under which each party is generally responsible for paying its own attorney fees (unless a statute or contract provides for that assessment).
A business can develop a dependable stance in a market, as consumers have a well-rounded price before the service is undertaken. For instance, a technician may charge $150 for his labor. Potential costs can be covered. The service may result in inevitable expenses like the parts needed to fix the issue or the items required to complete the order.
A reverse breakup fee is a penalty to be paid to the target company if the acquirer backs out of the deal, usually because it can’t obtain financing. Reasons for such fees include the possibility of lawsuits, disruption of business operations, and the loss of key personnel during the period when the company is "in play."
Key person insurance, also called keyman insurance, is an important form of business insurance.There is no legal definition of "key person insurance". In general, it can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.
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