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An IOU (abbreviated from the phrase "I owe you" [1] [2]) is usually an informal document acknowledging debt.An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment.
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A Cash receipts journal is a specialized accounting journal and it is referred to as the main entry book used in an accounting system to keep track of the sales of items when cash is received, by crediting sales and debiting cash and transactions related to receipts.
In some common law nations, a recognizance is a conditional pledge of money undertaken by a person before a court which, if the person defaults, the person or their sureties will forfeit that sum. It is an obligation of record, entered into before a court or magistrate duly authorized, whereby the party bound acknowledges (recognizes) that they ...
A borrowing statute, is a statute under which a U.S. state may "borrow" a shorter statute of limitations for a cause of action arising in another jurisdiction. The purpose of borrowing statutes is to prevent plaintiffs from engaging in forum shopping in order to find the longest available statute of limitations.
The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.