A loan or lease where (1) payment from the lessee is not received on time, (2) payments have stopped, (3) Maturity date has passed and the agreement is still unfulfilled. In these cases, the lendor grants a grace period of usually 90 days, before making a demand for either the full loan principal amount, or additional collateral. The lendor also has the power to take possession of the lessee’s collateral or take foreclosure action.
An asset whose monetary value is variable and depends on economic conditions.
A loan no longer receiving regular payments.
The price, that is non-inclusive of the monetary, which is incurred by the customer when he/she buys the product. This includes the time spent shopping and the value assigned to the risk in assuming expectation deliverance.
In old English law. Default in not replevying land in due time, when the same was taken by the king upon a default. The consequence thereof (loss of seisin) was abrogated by St. 9 Edw. III. c. 2.
In English law. Persons who refuse to take the oaths, required by law, to support the government. Non jus ex regula, sed regula ex jure. The law does not arise from the rule (or maxim.) but the rule from the law. Tray. Lilt. Max. 384. Non jus, sed selsina, facit atipitem. Not right, but seisin, makes a stock. Fleta lib. 6, c. 2,
A legal accounting practice that does not show an expense of cash on the income statement. For example, due to the depreciation costs involved with machinery, the prinicipal cost on a piece of manufacturing equipment will not be stated on the income statement.
Instruments such as the receipt of higher interest with a dividend payment, that is not recorded in a ledger account.
Assets such as the manufacturing facility that are listed on a company’s financial statement.
Not subject to be levied upon. Non-leviable assets are assets upon which an execution cannot be levied. Farmers’ F. Ins. Co. v. Conrad, 102 Wis. 387, 78 N. W. 582. Non licet quod dispendio licet. That ? which may be [done only] at a loss is not allowed [to be done.] Tbe law does not permit or require the doing of an act which will result only in loss. The law forbids such recoveries whose ends are vain, chargeable, and unprofitable. Co. Litt. 1276.