Balance due is the amount owed on a previous statement for which payment has been required but not been made. It is usually manifested as the amount of a debt still owed on an account or the principal outstanding on a promissory note. Balance...
business law
balance sheet
A balance sheet is a financial statement that consists of a three-part summary of a company's assets, liabilities, and ownership equity at a particular instance in time. It is intended to show the financial condition of a company at that time...
balloon mortgage
A balloon mortgage is a mortgage where the payments are not large enough to pay off the entire mortgage during its amortization period. Thus, the borrower must make an extra-large payment at the end of the amortization period to fully pay off...
balloon payment
Balloon payments refer to very large payments at the end of some short-term loans called balloon loans. Balloon loans are used in commercial settings and sometimes for personal loans, but since the balloon payment often is more than twice the...
Banking Act of 1933 (Glass-Steagall)
The Banking Act of 1933, commonly referred to as the Glass-Steagall Act, was a landmark piece of legislation in the United States that introduced significant reforms to the banking industry. It was enacted in response to the financial crises...
bankruptcy
Overview:
Bankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt....
bargain
The term “bargain” appears in two specific legal contexts:
The first is contract law, where a bargain is defined as a voluntary agreement between two parties in exchange for consideration. Consideration, here, can be money,...basis of the bargain test
Under section 2-313 of the Uniform Commercial Code, when determining whether an express warranty exists or is valid in a sale of goods between two parties, the court asks if any promise or affirmation, any description of the goods, or any...
basis point
A basis point (often abbreviated as bp) is a unit of measurement that denotes a change in the interest rate of a financial instrument and is equal to 1/100th of 1% or 0.01%. It is a usual practice in the financial industry to use basis points...
Battle & Sons Funeral Home v. Chambers
Battle & Sons Funeral Home v. Chambers, 63 Ohio Misc. 2d 441 (Ohio Mun. Ct. 1993), is a case in Ohio on what expenses are considered “necessary” for burial and the responsibility of the spouse to pay.
FactsThe...