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Promissory Notes
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 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, 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 instrumental for tax and record keeping. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Burma 1926 Promissory Note
Myanmar, officially the Republic of the Union of Myanmar; and also referred to as Burma (the official English name until 1989), is a country in northwest Southeast Asia. It is the largest country by area in Mainland Southeast Asia and has a population of about 55 million. It is bordered by India and Bangladesh to its northwest, China to its northeast, Laos and Thailand to its east and southeast, and the Andaman Sea and the Bay of Bengal to its south and southwest. The country's capital city is Naypyidaw, and its largest city is Yangon (formerly Rangoon). Early civilisations in the area included the Tibeto-Burman-speaking Pyu city-states in Upper Myanmar and the Mon kingdoms in Lower Myanmar. In the 9th century, the Bamar people entered the upper Irrawaddy River, Irrawaddy valley, and following the establishment of the Pagan Kingdom in the 1050s, the Burmese language and Culture of Myanmar, culture and Buddhism in Myanmar, Theravada Buddhism slowly became dominant in the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Loan
In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Acting as a provider of loans is one of the main activities of financial institutions such as banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Charles George Gordon
Major-general (United Kingdom), Major-General Charles George Gordon Companion of the Order of the Bath, CB (28 January 1833 – 26 January 1885), also known as Chinese Gordon, Gordon Pasha, Gordon of Khartoum and General Gordon , was a British Army officer and administrator. He saw action in the Crimean War as an officer in the British Army. However, he made his military reputation in Qing Dynasty#Rebellion, unrest, and external pressure, China, where he was placed in command of the "Ever Victorious Army", a force of Chinese soldiers led by European officers which was instrumental in putting down the Taiping Rebellion, regularly defeating much larger forces. For these accomplishments, he was given the nickname "Chinese Gordon" and honours from both the Emperor of China and the British. He entered the service of the Isma'il Pasha, Khedive of Egypt in 1873 (with British government approval) and later became the List of governors of pre-independence Sudan, Governor-General of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Piastre
The piastre or piaster () is any of a number of units of currency. The term originates from the Italian for "thin metal plate". The name was applied to Spanish and Hispanic American pieces of eight, or pesos, by Venetian traders in the Levant in the 16th century. These pesos, minted continually for centuries, were readily accepted by traders in many parts of the world. After the countries of Latin America had gained independence, pesos of Mexico began flowing in through the trade routes, and became prolific in the Far East, taking the place of the Spanish pieces of eight which had been introduced by the Spanish at Manila, and by the Portuguese at Malacca. When the French colonised Indochina, they began issuing the new French Indochinese piastre (''piastre de commerce''), which was equal in value to the familiar Spanish and Mexican pesos. In the Ottoman Empire, the word ''piastre'' was a colloquial European name of Kuruş. Successive currency reforms by debasing the Ot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Insolvency
In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Spain
Spain, or the Kingdom of Spain, is a country in Southern Europe, Southern and Western Europe with territories in North Africa. Featuring the Punta de Tarifa, southernmost point of continental Europe, it is the largest country in Southern Europe and the fourth-most populous European Union member state. Spanning across the majority of the Iberian Peninsula, its territory also includes the Canary Islands, in the Eastern Atlantic Ocean, the Balearic Islands, in the Western Mediterranean Sea, and the Autonomous communities of Spain#Autonomous cities, autonomous cities of Ceuta and Melilla, in mainland Africa. Peninsular Spain is bordered to the north by France, Andorra, and the Bay of Biscay; to the east and south by the Mediterranean Sea and Gibraltar; and to the west by Portugal and the Atlantic Ocean. Spain's capital and List of largest cities in Spain, largest city is Madrid, and other major List of metropolitan areas in Spain, urban areas include Barcelona, Valencia, Seville, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Italy
Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land border, as well as List of islands of Italy, nearly 800 islands, notably Sicily and Sardinia. Italy shares land borders with France to the west; Switzerland and Austria to the north; Slovenia to the east; and the two enclaves of Vatican City and San Marino. It is the List of European countries by area, tenth-largest country in Europe by area, covering , and the third-most populous member state of the European Union, with nearly 59 million inhabitants. Italy's capital and List of cities in Italy, largest city is Rome; other major cities include Milan, Naples, Turin, Palermo, Bologna, Florence, Genoa, and Venice. The history of Italy goes back to numerous List of ancient peoples of Italy, Italic peoples—notably including the ancient Romans, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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France
France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlantic, North Atlantic, the French West Indies, and List of islands of France, many islands in Oceania and the Indian Ocean, giving it Exclusive economic zone of France, one of the largest discontiguous exclusive economic zones in the world. Metropolitan France shares borders with Belgium and Luxembourg to the north; Germany to the northeast; Switzerland to the east; Italy and Monaco to the southeast; Andorra and Spain to the south; and a maritime border with the United Kingdom to the northwest. Its metropolitan area extends from the Rhine to the Atlantic Ocean and from the Mediterranean Sea to the English Channel and the North Sea. Its Regions of France, eighteen integral regions—five of which are overseas—span a combined area of and hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Standard Of Deferred Payment
In economics, standard of deferred payment is a function of money. It is the function of being a widely accepted way to value a debt, thereby allowing goods and services to be acquired now and paid for in the future. The 19th-century economist William Stanley Jevons, influential in the study of money, considered it to be one of four fundamental functions of money, the other three being medium of exchange, store of value, and unit of account. However, most modern textbooks now list only the other three functions, considering standard of deferred payment to be subsumed by the others. Most forms of money can act as standards of deferred payment including commodity money, representative money and most commonly fiat money. Representative and fiat money often exist in digital form as well as physical tokens such as coins and notes. Functions of money Money is held to serve multiple distinguished but related functions, of which a "standard of deferred payment" is one. The most com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Commercial Paper
Commercial paper, in the global financial market, is an Unsecured debt, unsecured promissory note with a fixed Maturity (finance), maturity of usually less than 270 days. In layperson terms, it is like an "IOU" but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the credit risk, creditworthiness of the issuing company. Commercial paper is a Money market, money-market security (finance), security issued by large corporations to obtain funds to meet short-term debt obligations (for example, payroll) and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note. Since it is not backed by Collateral (finance), collateral, only firms with excellent credit ratings from a recognized credit rating agency will be able to sell their commercial paper at a reasonable price. Commercial paper is usually sold at a di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Holder In Due Course
In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and all previous holders, regardless of any competing claims those parties may have against each other. This right shields a holder in due course from the risk of taking instruments without full knowledge of their history. Rights The rights of a holder in due course of a negotiable instrument are qualitatively, as matters of law, superior to those provided by ordinary species of contracts: * The rights to payment are not subject to set-off, and do not rely on the validity of the underlying contract giving rise to the debt (for example if a cheque was drawn for payment for goods delivered but defective, the drawer is still liable on the cheque). * No notice need be gi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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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] |