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IOU (debt)
An IOU (Abbreviation, abbreviated from the phrase "I owe you") 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. IOUs usually specify the debtor, the amount owed, and sometimes the creditor. IOUs may be signed or carry distinguishing marks or designs to ensure authenticity. In some cases, IOUs may be redeemable for a specific product or service rather than a quantity of currency, constituting a form of scrip. California Registered Warrants Also referred to as "IOUs" by the U.S. state of California, the term "Warrant of payment, Registered Warrants", which specify a future payment date, is meant to differentiate these IOUs from regular, or “normal” payroll warrants which permit the holder to exchange their warrant for cash immediately. For both types of warrants, redeeming them may be delayed until funds are available. Beca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abbreviation
An abbreviation () is a shortened form of a word or phrase, by any method including shortening (linguistics), shortening, contraction (grammar), contraction, initialism (which includes acronym), or crasis. An abbreviation may be a shortened form of a word, usually ended with a trailing period. For example, the term ''etc.'' is the usual abbreviation for the list of Latin phrases, Latin phrase . Types A ''Contraction (grammar), contraction'' is an abbreviation formed by replacing letters with an apostrophe. Examples include ''I'm'' for ''I am'' and ''li'l'' for ''little''. An ''initialism'' or ''acronym'' is an abbreviation consisting of the initial letter of a sequence of words without other punctuation. For example, Federal Bureau of Investigation, FBI (wiktionary:FBI#Pronunciation, ), United States, USA (wiktionary:USA#Pronunciation, ), IBM (wiktionary:IBM#Pronunciation, ), BBC (wiktionary:BBC#Pronunciation, ). When initialism is used as the preferred term, acronym refers mor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford English Dictionary
The ''Oxford English Dictionary'' (''OED'') is the principal historical dictionary of the English language, published by Oxford University Press (OUP), a University of Oxford publishing house. The dictionary, which published its first edition in 1884, traces the historical development of the English language, providing a comprehensive resource to scholars and academic researchers, and provides ongoing descriptions of English language usage in its variations around the world. In 1857, work first began on the dictionary, though the first edition was not published until 1884. It began to be published in unbound Serial (literature), fascicles as work continued on the project, under the name of ''A New English Dictionary on Historical Principles; Founded Mainly on the Materials Collected by The Philological Society''. In 1895, the title ''The Oxford English Dictionary'' was first used unofficially on the covers of the series, and in 1928 the full dictionary was republished in 10 b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merriam-Webster
Merriam-Webster, Incorporated is an list of companies of the United States by state, American company that publishes reference work, reference books and is mostly known for Webster's Dictionary, its dictionaries. It is the oldest dictionary publisher in the United States. In 1831, George Merriam, George and Charles Merriam founded the company as G & C Merriam Co. in Springfield, Massachusetts. In 1843, after Noah Webster died, the company bought the rights to ''Webster's Dictionary#Noah Webster's American Dictionary of the English Language, An American Dictionary of the English Language'' from Webster's estate. All Merriam-Webster dictionaries trace their lineage to this source. In 1964, Encyclopædia Britannica, Inc., acquired Merriam-Webster, Inc., as a subsidiary. The company adopted its current name, Merriam-Webster, Incorporated, in 1982. History 19th century In 1806, Webster published his first dictionary, s:A Compendious Dictionary of the English Language, ''A Compen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money Loan, borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of #Principal, principal and interest. Loans, bond (finance), bonds, notes, and Mortgage loan, mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity (finance), equity. The term can also be used metaphorically to cover morality, moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century and comes by way of Old French from the Latin verb ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Promissory Note
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the ''maker'' or ''issuer'') promises in writing to pay a determinate sum of money to the other (the ''payee''), subject to any terms and conditions specified within the document. Overview The terms of a note typically include the :wikt:principal, principal amount, the interest rate if any, the parties, the date, the terms of repayment (which could include interest) and the maturity date. Sometimes, provisions are included concerning the payee's rights in the event of a default (finance), default, which may include foreclosure of the maker's assets. In foreclosures and contract breaches, promissory notes under CPLR 5001 allow creditors to recover prejudgement interest from the date interest is due until liability is established. For loans between individuals, writing and signing a promissory note are often instrum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiable Instrument
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings, depending on its use in the application of different laws and depending on countries and contexts. The word "negotiable" refers to transferability, and " instrument" refers to a document giving legal effect by the virtue of the law. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Consideration is p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debtor
A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower. If X borrowed money from their bank, X is the debtor and the bank is the creditor. If X puts money in the bank, X is the creditor and the bank is the debtor. It is not a crime to fail to pay a debt. Except in certain bankruptcy situations, debtors can choose to pay debts in any priority they choose. But if one fails to pay a debt, they have broken a contract or agreement between them and a creditor. Generally, most oral and written agreements for the repayment of consumer debt – debts for personal, family or household purposes secured primarily by a person's residence – are enforceable. For the most part, debts that are business-related must be made in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Creditor
A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property and service. The second party is frequently called a debtor or borrower. The first party is called the creditor, which is the lender of property, service, or money. Creditors can be broadly divided into two categories: secured and unsecured. *A secured creditor has a security or charge over some or all of the debtor's assets, to provide reassurance (thus to ''secure'' him) of ultimate repayment of the debt owed to him. This could be by way of, for example, a mortgage, where the property represents the security. *An unsecured creditor does not have a charge over the debtor's assets. The term cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency
A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term ''currency'' appear in the respective synonymous articles: banknote, coin, and money. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scrip
A scrip (or ''wikt:chit#Etymology 3, chit'' in India) is any substitute for legal tender. It is often a form of credit (finance), credit. Scrips have been created and used for a variety of reasons, including exploitative payment of employees under truck systems; or for use in local commerce at times when regular currency was unavailable, for example in remote coal towns, military bases, ships on long voyages, or military occupation, occupied countries in wartime. Besides company scrip, other forms of scrip include land scrip, vouchers, token coins such as subway tokens, IOUs, arcade tokens and tickets, and points on some credit cards. Scrips have gained historical importance and become a subject of study in numismatics and exonumia due to their wide variety and recurring use. Scrip behaves similarly to a currency, and as such can be used to study monetary economics. History A variety of forms of scrip were used at various times in the 19th and 20th centuries. Company scrip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an international border with the Mexico, Mexican state of Baja California to the south. With almost 40million residents across an area of , it is the List of states and territories of the United States by population, largest state by population and List of U.S. states and territories by area, third-largest by area. Prior to European colonization of the Americas, European colonization, California was one of the most culturally and linguistically diverse areas in pre-Columbian North America. European exploration in the 16th and 17th centuries led to the colonization by the Spanish Empire. The area became a part of Mexico in 1821, following Mexican War of Independence, its successful war for independence, but Mexican Cession, was ceded to the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warrant Of Payment
In financial transactions, a warrant is a written order by one person that instructs or authorises another person to pay a specified recipient a specific amount of money or supply goods at a specific date. A warrant may or may not be negotiable instrument, negotiable and may be a bearer instrument that authorises payment to the warrant holder on demand or after a specific date. Governments and businesses may pay wages and other accounts by issuing warrants instead of cheques. History Warrants were used in the 18th century by the military to authorize payments to soldiers and suppliers. George Washington, for example, signed warrants that ordered quartermasters to deliver money or acquire supplies. These warrants were used by quartermasters to issue vouchers to acquire food, supplies, munitions, clothing, transportation, etc., for the use of the American military and to maintain Washington's headquarters. Warrants could be redeemed by the army paymasters, but most often they were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
