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  2. Novation - Wikipedia

    en.wikipedia.org/wiki/Novation

    Novation, in contract law and business law, [1] is the act of – replacing an obligation to perform with another obligation; or adding an obligation to perform; or

  3. Novated lease - Wikipedia

    en.wikipedia.org/wiki/Novated_lease

    A novated lease is a motor vehicle lease which has been novated, that is, the obligations in the contract have been transferred from one party to another.. A lease is novated with a three way agreement (Deed of novation) between the lessee, the lessor (usually a finance company), and a third party, under which all parties agree that the third party will take on some or all of the lessee's ...

  4. Accord and satisfaction - Wikipedia

    en.wikipedia.org/wiki/Accord_and_satisfaction

    Accord and satisfaction is a contract law concept about the purchase of the release from a debt obligation. It is one of the methods by which parties to a contract may terminate their agreement.

  5. 13 common bank fees you shouldn't be paying — and how to ...

    www.aol.com/finance/avoid-common-bank-fees...

    2. Overdraft fees. 💵 Typical cost: $26 to $35 per occurrence Overdraft fees happen when you spend more money than you have in your checking account, and the bank covers the difference ...

  6. Central counterparty clearing - Wikipedia

    en.wikipedia.org/wiki/Central_Counterparty_Clearing

    Once a trade has been executed by two counterparties, it is submitted to a clearing house, which then steps between the two original traders' clearing firms and assumes the legal counterparty risk for the trade. For example, a trade between member firm A and firm B becomes two trades: A-CCP and CCP-B. This process is called novation.

  7. Group purchasing organization - Wikipedia

    en.wikipedia.org/wiki/Group_purchasing_organization

    These fees do not influence the prices negotiated. They are used to cover the GPO's operating expenses. If there is a remainder it is distributed back to the GPO owners; thus, GPO owners achieve cost-savings on the goods they choose to buy through group contracts, and also receive distributions back from the GPO.

  8. Set-off (law) - Wikipedia

    en.wikipedia.org/wiki/Set-off_(law)

    In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]

  9. Assignment (law) - Wikipedia

    en.wikipedia.org/wiki/Assignment_(law)

    An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee.