what is the difference between a liquidated and unliquidated claim?
316828
A liquidated damages clause (or an agreed damages clause), is a provision in a contract that fixes the sum payable as damages for a party's breach. In comparison, unliquidated damages are damages for a party's breach which have not been pre-estimated.
970284
A claim rejection occurs prior to claim processing and is typically related to input errors or invalid data. A denied claim is processed by the payer and determined to be unpayable. In both instances, the payer will return a notification for the reason of rejection or denial.
806507
As a result the bad debts expense is more closely matched to the sale. When a specific account is identified as uncollectible, the Allowance for Doubtful Accounts should be debited and Accounts Receivable should be credited.
1460020
Yes – An unpatented mining claim is a unique form of property. ... The surface of almost all unpatented mining claims is not private property; the ownership and management of the surface and surface resources remains with the United States.
989342
Liquidated damages are presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.
433702
The basic difference between nil rated and exempt supply is that the tariff is higher than 0% in case of exempt supply. But there is no tax payable due to exemption notification. Whereas in case of NIL rated supply, the tariff is at NIL rate so there is no tax without the exemption notification.
659952
An uncashed payroll or dividend check is a common type of unclaimed property. The value of the negotiable instrument represents the debtor's obligation to the payee. When the payee does not extinguish the debt by cashing the check, this creates a property right protected by state unclaimed property laws.
637094
The key difference between amortization and depreciation is that amortization is used for intangible assets, while depreciation is used for tangible assets. ... Finally, because they are intangible, amortized assets do not have a salvage value, which is the estimated resale value of an asset at the end of its useful life.
460375
According to law.jrank.org, the definition for unascertained goods is the goods that are not specifically identified at the time a contract of sale is made. ... Specific goods are goods specifically identified at the time a contract of sale is made, e.g. a shirt made of cotton and with a Mickey Mouse cartoon on it.
1087078
In the case of breach of condition, the innocent party has the right to rescind the contract as well as a claim for damages. On the other hand, in breach of warranty, the aggrieved party can only sue the other party for damages.
1233583
The key difference between discounted and undiscounted cash flows is that discounted cash flows are cash flows adjusted to incorporate the time value of money whereas undiscounted cash flows are not adjusted to incorporate the time value of money.
1008057
Either 1) You have incurred an insured event and now you decide you want to sell your property while your claim is pending; or 2) In the midst of selling your property, an insurance claim occurs. The key principle in play supports that a loss should not hold up the sale or transfer of property.
974337
The key difference between expunging a person's criminal record and sealing it is that a sealed record still “exists” in both a legal and physical sense, while expungement results in the deletion of any record that an arrest or criminal charge ever occurred.
1108430
"Full Warranty" means the coverage meets the federal minimum standards for comprehensive warranties, while "Limited Warranty" means the coverage does not. ... This is an example of a full warranty. It specifies that the customer has a right to a replacement or a refund if repairs are not possible.
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Under the allowance method, if a specific customer's accounts receivable is identified as uncollectible, it is written off by removing the amount from Accounts Receivable. ... The customer states that its bank has a lien on all of its assets.
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Liquidated damages in a construction contract must not be such that they amount to a penalty—penalty clauses are (in general) unenforceable because English law does not allow contracting parties to punish one another for failure to perform. ... See Practice Note: Liquidated damages in construction contracts.
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The key difference between the two is the warranty. Many refurbished products are sold 'as-is', meaning you cannot return them. A recertified product, on the other hand, will come with a short-term warranty.