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Restricted vs unrestricted: Either the one advising bank can purchase a bill of exchange from the seller in the case of a restricted LC, or the confirmation bank is not specified, which means that the exporter can show the bill of exchange to any bank and receive a payment on an unrestricted LC. Deferred vs usance: A credit that is not paid or ...
Commissioner v. Tufts, 461 U.S. 300 (1983), was a unanimous decision by the United States Supreme Court, which held that when a taxpayer sells or disposes of property encumbered by a nonrecourse obligation exceeding the fair market value of the property sold, the Commissioner of Internal Revenue may require him to include in the “amount realized” the outstanding amount of the obligation ...
Recourse debt or recourse loan is a debt that is backed by both collateral from the debtor, and by personal liability of the debtor. [2] This type of debt allows the lender to collect from the debtor and the debtor's assets in the case of default, in addition to foreclosing on a particular property or asset as with a home loan or auto loan.
A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. [1] The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law ...
company without stocks, the most common company type in Hungary [51] kht. (közhasznú társaság) community interest company: abolished in 2009, must operate as nonprofit company instead [52] kv. (közös vállalat) joint venture: abolished in 2006 rt. (részvénytársaság) joint-stock company: replaced by Zrt. and Nyrt. in 2006 Nyrt.
Like most states, Ohio drivers must meet minimum auto insurance requirements to drive legally. The potential penalties for driving without insurance in Ohio can be severe, including fines, loss of ...
The latest (July 2007) revision of UCP is the sixth revision of the rules since they were first promulgated in 1933. It replaced UCP 500, [4] and was the outcome of more than three years of work by the ICC's Commission on Banking Technique and Practice.
Here are the notable Ohio insurance laws: Driving without insurance is illegal. Driving without insurance is illegal in the state of Ohio and getting caught doing so can lead to some heavy ...