Payment Due Date - Law Dictionary Search Results
Home Dictionary Name: payment due datepayment due date
payment due date Contract language specifying when payments are due on money borrowed. The due date is always indicated and means that the payment must be received on or before the specified date. Grace periods prior to assessing a late fee or additional interest do not eliminate the responsibility of making payments on time. Source: U.S. Department of Housing and Urban Development ...
payment change date
payment change date the date when a new monthly payment amount takes effect on an adjustable-rate mortgage (ARM) or a graduated-payment mortgage (GPM). Generally, the payment change date occurs in the month immediately after the interest rate adjustment date. Source: U.S. Department of Housing and Urban Development ...
partial payment
partial payment a payment that is less than the total amount owed on a monthly mortgage payment. Normally, lenders do not accept partial payments. The lender may make exceptions during times of difficulty. Contact your lender prior to the due date if a partial payment is needed. Source: U.S. Department of Housing and Urban Development ...
late payment charges
late payment charges the penalty the homeowner must pay when a mortgage payment is made after the due date grace period. Source: U.S. Department of Housing and Urban Development ...
balloon payment
balloon payment the final lump sum payment due at the end of a balloon mortgage. Source: U.S. Department of Housing and Urban Development ...
Interest
Interest, an interest for the purposes of the regula-tion was not limited to a direct financial interest and included membership of a panel such as the panel of which the claimant's solicitors were members that, therefore, the Claimant's Solicitors had had an interest in recommending the insurance which they recommend to her; that, in the circumstances, there had not been sufficient disclosure of that interest; and that, accordingly, there had been a material breach of regulation 4(2)(e)(ii) and the conditional fee agreement was unenforceable [See (English) Conditional Fee Agreements Regulation, 2000 (SI 2000/692), reg. 4(2)(c)(e)(ii)], Garrett v. Halton BC, (2007) 1 WLR 554 CA Cir.Interest, inter alia as the compensation fixed by agreement or allowed by law for the use or detention of money, or for the loss of money by one who is entitled to its use; especially, the amount owed to a lender in return for the use of the borrowed money [Black's Law Dictionary (7th Edn.) pp. 393-94 para 3...
Call
Call, 1, (1) The election of students to the degree of barrister-at-law, hence (2) the ceremony or epoch of election, and (3) the number of persons elected. See INNS OF COURT.2. The demand for payment of an instalment other than payments due at fixed dates by the terms of the prospectus or agreement to take shares, Croskey v. Bank of Wales, (1863) 4, 9 Giff 314, due upon shares. On the issue of shares a certain portion only of the issue price is usually demanded on allotment and at fixed dates thereafter: the balance is sometimes payable when demanded. In the case of limited companies the calls are limited to the total amount unpaid on each share. There is an implied promise by a purchaser of shares that he will indemnify the vendor against all future calls on shares, Spencer v. Asworth, Partington & Co., (1925) 1 KB 589. See COMPANY and CONTRIBUTORY; FLOATING CHARGE and TABLE A. (Articles 11 to 16).3. A Stock Exchange term for the right to buy stock or shares at a fixed price on a cer...
Post-dated cheque
Post-dated cheque, are not invalid, but the banker should not pay such a cheque if presented before the date it bears. If therefore, a cheque dated on a Sunday is presented on the previous business day, it should be returned with the answer post-dated. A post-dated cheque, however, if presented at or after its ostensible date, should be paid though the banker knows it to be post-dated, and even if it has been presented before the date and refused payment, Halsbury's Laws of England, 4th Edn., Vol. 3(1), p. 143.Means a cheque must not be post-dated, that is, dated after the day on which it is presented for payment to the drawee branch. Post-dated cheques present for more difficulties to the banker than antedated cheques. There are practical difficulties rather than legal ones ..... But a cheque is generally post-dated because the drawer does not expect to have the funds to meet it until that date arrives. It is a mandate to the banker to the effect that it should not be paid before that...
Preferential payments
Preferential payments, in bankruptcy, administra-tion of estates of persons dying insolvent, and winding up of a company:-One year's rates and taxes, four months' salaries of clerks up to fifty pounds, and two months' wages of labourers or workmen, up to twenty-five pounds (labourers in husbandry paid partly in a lump sum at the end of the year of hiring to have the whole or proportionate part of that sum). Also sums due under the Workmen's Compensation Acts, the National Insurance Acts (Health and Unemployment and Contributory Pensions). These debts rank equally between them unless the assets are insufficient, in which case they are to abate in equal proportions. By the (English) Bankruptcy Act, 1914 (see s. 34), the preference was extended to apprentices. See the (English) Bankruptcy Act, 1914, s. 33, and the (English) Companies Act, 1929, s. 264, by which these debts are directed to be paid in priority to all others; and by s. 264 (4) (b) of the Companies Act, 1929, these debts are ...
due
due [Old French deu, past participle of devoir to owe, from Latin debere] 1 a : satisfying or capable of satisfying an obligation, duty, or requirement under the law [the buyer's performance under the contract] [ proof of loss] b : proper under the law [obstructing administration of justice] 2 : capable of being attributed used with to [any loss to neglect] 3 a : having reached the date at which payment is required : payable b : owed though not yet required to be paid 4 : reasonable ...
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