Banking
Published: 14/10/2008
A promissory note, also referred to as a note payable in accounting, is a contract where one party (the maker or issuer) makes an unconditional promise in writing to pay a sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under...
Published: 10/10/2008
Throughout your life, you have probably learned a lot about money and finances. In school, you are taught all about how cash works and how to use it. You were also probably taught how to fill out a check.
However, you may not have learned much about a form of payment that combines cash and...
Published: 10/10/2008
The banking crisis is occupying the daily news reels as a matter of utmost importance. Those with savings in any bank are becoming increasingly worried about losing it all and those without are also being affected with a lack of confidence in all monetary systems and even manufacturing and job...
Published: 08/10/2008
Solicitors require specialist banking services for a number of reasons. Naturally solicitors need a personal account that suits their method of working but also their professional activities in many cases will also require banking of a specialised nature. Part of the reason behind this is because...
Published: 30/09/2008
Dateline Washington, October 19th (get it?) 2010: the Peoples Bank & Trust of America has now established itself as the only bank of any kind in the USA, totally owned and managed by the US House of Representatives.
A 2/3 majority must now approve all investment banking transactions; your...
Published: 29/09/2008
For the two weeks after the government takeover of Freddie Mac and Fannie Mae we saw a historic drop in mortgage interest rates. In fact it was the largest two week drop since 1995. This was after rates had been gradually falling for the previous two months on rumors of the takeover. After the...
Published: 25/09/2008
There's no denying that keeping precise and auditable escrow transaction records can be a challenge. From recording receipts and writing checks to reconciling accounts or delivering statements, you may be in need of better solutions to organize and manage data, as well as keep a cap on...
Published: 24/09/2008
A loan is a type of debt. This article focuses exclusively on monetary loans, although, in practice, any material object might be lent. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.
The borrower initially does...
Published: 22/09/2008
Annual percentage rate (APR) is the simplified counterpart to the effective interest rate the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the "cost" of borrowing in some standardized way as a form of consumer protection.
...
Published: 20/09/2008
A mortgage is the pledging of a property to a lender as a security for a mortgage loan. While a mortgage in itself is not a debt, it is evidence of a debt.
It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to...
