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Sum Certain
A sum certain is a specified and set amount of money owed by one person to another. It is a legal term of art, having specialized meaning in the law. Some kinds of legal claims can not be brought at all unless the sum certain can be pleaded. A document claimed to be a 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 ... can not be negotiated unless it is for a sum certain. References External links *{{cite web, url=http://law.onecle.com/new-york/uniform-commercial-code/UCC03-106_3-106.html, title=Section 3-106 - Sum Certain, date=15 August 2006, work=New York Uniform Commercial Code Law, accessdate=4 January 2010 Legal terminology Debt Negotiable instrument law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Term Of Art
Jargon is the specialized terminology associated with a particular field or area of activity. Jargon is normally employed in a particular communicative context and may not be well understood outside that context. The context is usually a particular occupation (that is, a certain trade, profession, vernacular or academic field), but any ingroup can have jargon. The main trait that distinguishes jargon from the rest of a language is special vocabulary—including some words specific to it and often different senses or meanings of words, that outgroups would tend to take in another sense—therefore misunderstanding that communication attempt. Jargon is sometimes understood as a form of technical slang and then distinguished from the official terminology used in a particular field of activity. The terms ''jargon'', ''slang,'' and ''argot'' are not consistently differentiated in the literature; different authors interpret these concepts in varying ways. According to one definition, j ... [...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 the use of the term as it is used in the application of different laws, and depending in which country and context it is used. 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 presumed. #The transferee acquires a good title, even though the transferor had a defective or n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Terminology
Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been variously described as a science and as the art of justice. State-enforced laws can be made by a group legislature or by a single legislator, resulting in statutes; by the executive through decrees and regulations; or established by judges through precedent, usually in common law jurisdictions. Private individuals may create legally binding contracts, including arbitration agreements that adopt alternative ways of resolving disputes to standard court litigation. The creation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and serves as a mediator of relations between people. Legal systems vary between jurisdictions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by 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 and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover 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. The term "debt" comes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
